News except China is a big influence on our cryptocurrency market. Many major cryptocurrency exchanges are based in this country. Do you think the market is too dependent on China?
Bitcoin is a decentralized asset and as such it is not too dependent on any single market. But the political developments in major markets such as China, United States, Japan.etc can have a large impact on the exchange rates. Also, there is another factor that chips in. The other markets may be having more long-term holders, but a large part of the day traders come from China.