What do you think? China is making the second Gox thing? If so, the price may go back to 400's at any time. This is way too dangerous for anyone to get in right now. We experienced it back in 2013. I haven't forgotten that one yet.
Demand from China seems to partly come from people using Bitcoin as a tool to get money out of their country. It basically means that at some point they will unload the coins that they bought. It's just a matter of time.