China has got to impact the crypto currency market because of its strong crypto holding in the market. China can affect the prices of the bitcoin seriously but cannot completely eliminate Bitcoin or detsroy its rapport. CHina has become a threat to the crypto market, especially the bitcoin according to the latest reports. The ban imposed on the bitcoin by the People's Republic in China had worsened the situation for the crypto trading in the country.

Go through this report by : Researchers from Princeton and Miami International University: "The looming threat of CHINA" :
https://bravenewcoin.com/insights/china-is-a-threat-to-the-bitcoin-network-says-new-report