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.
Honestly, i have been in bitcoin since 2012. My first Bitcoin was around 300 dollars.. that value is now 55K. Crypto currency has become much more reliable. Even with the occasional crash, if you dont panic and continue to hold (dont sell) it always recovers and comes back stronger.. also if the dollar ever tanked you can exchange crypto for any other type of currency so it is actually very smart considering the socialist attacks on our economy.. I have made hundreds of thousands of dollars in crypto and I completely disagree with your opinion..
You made money when there was money to be made. It’ll never grow like that again.
Almost the entirety of Bitcoin’s value is propped up by China these days, the dirty little secret that they never tell you.
$3T was minted in 2020 right? Bitcoin and many other cryptocurrencies has a cap of 21 000 000 coins, more than that can never exist. People lose their keys, less is sold on exchanges etc etc..
If it continues like this, then yes, the valuation in USD will keep rising to insane levels. Tho you might not actually get richer in purchasing power, but at least you won't loose your purchasing power due to hyper inflation in the dollar.