First of all, india has not legalized bitcoin. They have only proposed a law that is not yet implemented. Both India and china do not control the bitcoin market. A country that has the biggest bitcoin mining farms does not mean that they are controlling the bitcoins.
Practically no one can control this bitcoin market. It's all decentralized with no one in the power to control it.
Practically no one can control this bitcoin market. It's all decentralized with no one in the power to control it.
Exactly. Just because some countries have big mining farms doesn't mean that they control the entire crypto market. There are a lot of players involved, each looking for their own benefit. Whales and big exchanges are the ones who control the market the most. That, and also the fact that mainstream events can have either a positive or negative impact over Bitcoin's price.
All in all, I wouldn't worry much about the price, since it's all driven by speculation. With the ability to trade Bitcoin "over the counter" and through decentralized exchanges, it may be impossible to control or manipulate the entire market. Only centralized exchanges are easy to manipulate because of their single points of failure. Bitcoin is truly about decentralizing finance, so as long as it does the job well, nothing else matters. Just my thoughts
