It’s definitely possible and knowing China, I know they will do everything to get it done especially if it is the way to get something they want (and they want a lot of things). I can see China doing this for political gain, how? That I am not sure but one thing’s for sure if China were to take control of 50% of bitcoin investors might lose some confidence on the coin.
Yeah could be possible only if China is willing to spend a whole lot of money just to take control of the Bitcoin market no doubt about that as we all know how clever chinese when it comes to money making or business or almost anything. But I think if China has to do this thing they are just wasting their time for it unless they have something that will benefit their intention.
That could be possible for me but I doubt any party will take the risk of crashing Bitcoin because all of these powerful nations are currently having trade wars, tensions and military expansion so why do they bother spending more money into something that could possibly delay their country's progress right? Nowadays, countries all over the world are busy pumping their military expenditures for some reasons.