Where did you get 44% from? Was it from FUD article? You cannot really say that 44% is on Chinese hands, what a pile of shite.
Chinese can keep all their coins and use localbitcoins or buy services with them.
And the Chinese Govt was pretty lame, they will come back in a few days/months/years with regulations and there will be a second chinese bubble, wait for it
Okay smart guy
44% of Bitcoin trade was on BTC China. This of course isn't 44% of all BTC in existence, but it is certainly almost half of the trade responsible for pushing the price up to over $1200.
Now, what might happens when this market places fully dissolves...hmm let me see? Ah, I got it! Now that all the weak hands have been shaken out the trade, Bitcoin 2 da Moon!
A 2nd Chinese bubble, one part of me is thinking, "i will certainly keep my ears tot he ground for any news of a relegitimisation of Bitcoin in China"; the other part of me is thinking, "yet more überwishful thinking from someone sitting crying into his empty beer glass?"
44% of trade volumes means nothing.
BTChina had 0 fees , meaning that it encouraged bots and fast trades.
With 0 fees , 10 btc and a bot I alone can surpass Mtgox trading volume.