Right. And for that. They can control the price of bitcoin. But in the interferance of PBOC. I dont think the impact will be weaken. China leading exchangers are guilty of violating the law of anti money laundering. For that, the PBOC will be keeping their eyes on exchanges. Exchangers there also quietly made a policy which i think will limit the trading transactions
http://www.coindesk.com/china-bitcoin-exchanges-trading-policy-updates/China exchanges can NOT control the price of btc....
what happened is that exchanges did leveraged trades!
PBOC does not want that for good reason!
if you want to see the trade volume in REAL coins look
https://coinmarketcap.com/currencies/bitcoin/#markets Also the story that china controls the miners is bull.
There are a few pools , but the miners are not all located in china!
they can switch at all time!
to a pool outside china.
China knows this , controlling a price is impossible if the supply is limited by 21.000.000 ever.
I buy a $50 btc every month and store it in my own wallet! , if everybody does this btc price will explode.
Because you need the REAL btc to play in the market! , you cant use paper btc ,,, like paper gold to control the price!
the network will expose you the moment you try.
From geopolitical point of view it could be very good i f there is one coin no one can control
and has the properties of gold , and can be trusted by your foo not because of you but because of the math calculations everyone can do for them self!
Math as a model to enforce , that's the power of Bitcoin!
That's why it will be the new gold!
The thing is that people are not yet capable to understand the abstractness of bitcoins rules ,
Those who do have a huge advantage , like those who understood stocks in 1602 , and those who understood oil in the 189x
