China is the biggest bitcoin mining in the world for right now, and the largest factors to infect about the price is China. If the exchanger market from China down, the price is also down. So I believe that China can controlling bitcoin price and stock.
Yes true, china strongly influenced the bitcoin. When the Chinese new year, many of user sell bitcoin so the price drop from $1.160 to $800. And after the new year, they bought bitcoin again so the prices look stable and continues to rise.