Most btc mining is done in China because electricity is cheap there and all mining hardware originates from there also right?
China controls over 50% of the btc hashrate meaning they can do a 51% attack on the bitcoin network or control which btc transactions are valid according to their liking correct?
even though china is the biggest miner but they will not be able to control all bitcoin price movements in the crypto market. There are still many other miners and investors from countries other than China will fight if China regulates the price of bitcoin, bitcoin holders will not benefit if buyers refuse to buy it. The traders also have to be careful of everything they do because if the traders make a fatal mistake with bitcoin then the buyers will choose another coin and leave bitcoin.