China’s stance over bitcoin and other crypto currencies is watch quite closely before china is a large country and one of the major market for cypto currencies. Many investors in crypto market are from china. China is quite much involved in crypto market financially than rest of the countries. Any action taken by government of china can manipulate the prices of crypto assets as it might cause major sell off if banned and if legalised, can cause market to skyrocket. When the news came that india had not considered crypto currencies as legal tender, the price of cryptocurrencies fell quite hard, now think how much china’s news will affect the market.