I only got into the Bitcoin scene in Oct '13 (Mining and Trading). While I understand that China "owns" most of the USA's economy, I'm not talking about the USA here; since this is more of a WORLD economics question. Why does China reign the most influential when it comes to the Bitcoin market?
Remember the price rise from $150 to $1300? China is helping the pump..
China was definitely responsible for a large share of the rapid rise in the most recent bubble. However, the non-China publicity, development, and investment in BTC has increased dramatically over the last 6 months. The fundamentals of Bitcoin are drastically stronger than they were pre-China, so we should expect the value to be significantly higher than [Peak price - Chinese investment].
nostradamus is correct, and the market is due to start responding to good news and tending to ignore most bad news as the trend turns Bullish.