It really seems like china is driving much of the activity in Bitcoins. If you tally up the volume that's being traded it amounts to almost 7BB dollars worth, that is 1/2 the market cap of the entire bitcoin network. It's not that difficult to imagine how high bitcoin prices can reach with this type of a trend. If China doesn't come down hard in regulation USD/BTC could be trading upwards of 7 to 8K per token.
From @himalayanguru