The Chinese bitcoin exchanges has certainly gotten a lot smaller ever since the government stopped bitcoin withdrawals on most of the chinese exchanges such as BTCChina, Huobi, OKCoin etc. and all the trading activity basically moved to localbitcoins which obviously has a 1% fee on all exchanges compared to 0 fee on btcchina, meaning that volume is significantly lower as prfoits have gotten less and less.

I think that the current pump is a healthy one. There is essentially no way that we are going to go under $2000, and if we do, people will buy coins asap because they know from the experience over the past month that bitcoin should be naturally be valued at over $2000. It is nothing like 2013 because if it was, bitcoin would be at $1250 right now instead of $2750.

If we can get more countries to legalize bitcoin, like INdia, austraila, and japan, then i think we can actually turn this "bubble" into a healthy market.