I think it's China.
I am tired of hearing bad news about China. Every time the Chinese government has bad news, the whole cryptocurrency market will collapse. I hate this country. shit.
I agree to this that China has the biggest impact on bitcoins. Unfortunately, the country has only brought negative news regarding bitcoins for us in the recent past. Again, another Asian country which has good impact on the price of bitcoins is India. This country has huge investment potential. A lot of people have already started investing and we can expect this number to grow exponentially in coming years. I heard that more than 20 exchanges opened in that country in last one year.