The Chinese have a huge market and plays an important role in case of the price of bitcoins and other crypto currencies. The government right now is kinda being very harsh on those who use crypto currencies. They are imposing strict regulations like blocking websites that allow users to trade bitcoin or join ICOs. They are not anti crypto currency or anything since they are also doing trials of making their own crypto currency. Now if the government starts being normal or does anything that will affect crypto currencies positively we will see a huge price rise for which others keep a close eye on China.