Are the Chinese Manipulating the Bitcoin Market? Should You Sell Your Bitcoin before It All Goes Down the Drain?
Ok, so by now you should know that China controls over 90% of the Bitcoin trading market, which is huge.
China is also the world's 2nd largest economy, which is also huge.
What does this mean?
Well, it means that China dominates the bitcoin market. It has a monopoly. Over 60% of the world's bitcoin hashing power is held up in China in such huge mining pools like Bitmain, F2Pool, AntPool, BTCC Pool and BW Pool. These are four of the largest, each grossing over $1.5 million a month! -- That's a lot of power and influence.
So why do they have so much control?
Check this out.
It takes a A LOT of electrical power to have that much influence power in this bitcoin game. And China has relatively cheap electricity costs, compared to other countries, so Chinese bitcoin miners can operate at the highest efficiency for longer periods. And they do it mainly with coal, which they burn and then use the energy from it to mine bitcoin.
Is Your Bitcoin In Danger?
Listen. This is a very risky, volatile business. Yes, I believe bitcoin has always been in "danger". Look at it this way, if China felt threatened in some way that bitcoin was placing a damper on its economy or on its fiat, then they have the power to effectively create big problems in the bitcoin system. Also, if there is some sort of political motivations behind manipulating the price of bitcoin, they could do so easily.
Outlook for Bitcoin
The question whether to sell bitcoin before it all goes down the drain is easy to answer, at least for me. And that answer is NO. At least, I wouldn't sell all of it.
Listen, people. Realize that this is an opportunity wave that fluctuates heavily. My advice is to stop being greedy and cash out periodically so that you have something to show for this ride, in case it does crash, and something held onto in case it doesn't.
Sounds like a plan to me.
Thoughts?
If you find this post of interest or value, please UPVOTE and RESTEEM! 
You should buy and HODL imo. Crypto assets along with gold and silver are long term investments and with be money in the near future.
Yes. I believe that crypto assets are here to stay. I just think it is better to cash out, say $50,000 or so if one can do that, instead of holding everything and possibly ending up with nothing. Unless, of course, the person holding already has wealth. LOL! #steemit!
Wise thinking. Because even though bitcoin has regained a little bit from the dip (which is making a lot of novice investors rejoice), the technical chart is indicating a very weak gain and we're yet to see another major slap in the face.
And yes China has a great influence on bitcoin, making it less of a decentralized currency; people should wake up and see that, because it defeats the whole purpose of bitcoin. China has become the Wallstreet of Bitcoin, and we all know what happens on Wallstreet.
Good analogy about Wallstreet. That is so true. It's a bit scary to me because it could cause chaos in other areas of life.
Have you thought about using crowdsourcing in order to accumulate Bitcoin with minimal out of pocket expense? Only difference is you acquire the Bitcoin over time instead of all at once and your money is not nearly as at risk! Thoughts?