looks like everyone was pretty quick to snatch up those cheap $1100 Coins.
Let's be honest. No one has any idea what the value of 1 BTC is, they're watching China and following their lead. On every single thing. China will determine the final valuation.
At this point in time, yes, mainly because China drug us up to 7000 CYN.
But China did not start this rally or the ones before it. China
lagged this rally from the gates.
I do not believe that China is the main determining factor in bitcoin pricing. Sometimes, yes, but man we have had several boat loads of awesome news and pro-bitcoin events in the US the last 2 months and THAT has ALOT to do with this price too.