I've been doing some research on the macroeconomic conditions in China and they are not looking good. What that means for Bitcoin is unknown of course, because it depends on how badly the Chi-Coms and the PBoC react to it, and whether the flight to safety such as bonds, PMs and cash will include bitcoin.

http://www.zerohedge.com/news/2014-04-16/richest-man-asia-selling-everything-china

There is a high probability that China will crank up the printing presses. Poor(er) Chinese will either use Bitcoin as a hedge on inflation, use more traditional precious metals, or they will be too broke to hedge at all. Chinese capital is invested in all the wrong places. This was the inevitable consequence of their neo-mercantilist foreign trade policy, as it was for Japan and every other country that tried it.