In my honest opinion, I don't think that the Chinese people are controlling the bitcoin because if they are really controlling it then we can see different abnormal pump and dump in the market to wipe out the other people's money. One thing for sure is, bitcoin is not manipulated by the Chinese and the market is now more free than before and it is now relying on law of demand and supply.
Bitcoin is independent and stay by his self, but when people said China have control with bitcoin price is not true, just lucky moment when bitcoin have higher price after announce by China president and keep down after issues China created their own coin. Bitcoin only control by investor and buyer where if many people sell their bitcoin make price will be down.