Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.
50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.
the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.
if bitcoin in control by china I think there will be an adverse impact, bitcoin created it actually has a purpose no one of any country in the world as well as financial institutions can dominate or control the bitcoin
The Chinese are not controlling the bitcoin. The trade volume is just 30% of total volume now.
30% is a big number as a percentage of total shares, and that means China has a role to affect price significantly. No country has a bitcoin trading volume of more than 50%.
America has great influence to control European market, and China is driving bitcoin in Asia. This is just the price game. Fact that China market tend to have more volume for lowest price because mostly come from there. Even China government began to intervene, because bitcoin position is slowly changing demand for yuan.