China never have to touch BTC. All they have to do is short it. You see all these dumb companies lining up to buy a ponzi scheme while China just keeps making money dumping on them. BTC mining is being phased out or move to other countries to drain their electricity. They also control money printing machine tether and Binance.
Sell your bitcoin now and focus on newer currencies like ETH, Polkadot, and etc.
How simple would one have to be to jump in late on a digital fiat currency because paper and metal fiat currency is failing... ponder that. Then think about the average person you know, who owns crypto.
There are so many other better options. They don't even have an active dev team any more and their transport protocols are getting old.
You can't even transfer BTC fast enough to save yourself from a crashing market. It takes HOURS. You can't even earn high interest on it.
It's only the current price because people are still stupid enough to buy it.