Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
I will want to disagree that the influence of China on bitcoin is insignificant because if a mere rumor like some people have argued could cause a damage that it does not seems recovery is in sight, I wonder what will happen if it's the news is being confirmed and spread across board.
Being insignificant would mean nonexistent but in this case no. Even with the good news from Japan, Philippines and a host of other countries could not do the magic of returning the lost confidence, it then points to how much influence the Chinese have on bitcoin which to me, is not in any where close to insignificant.
Until when we are fully away from this red zone, I can then admit that the influence is minute.