Whether you like in or not, the Chinese market is very important for any commodity now and have a dominant market force, and the action of PBOC is going to affect the price becuase the exchanges are going out of control and the volume and margin trade is out of order.
Concerning the recent price rally of Bitcoin is completely different from 2013, solid fundamentals drive the price up in 2016 strating with halving, Brexit, Trump victory, high inflation in some countries and war on cash.
Maybe but if the Peoples Bank of China keeps putting their finger in the business of the Chinese BTC exchanges then that dominant market force will stop getting involved in BTC trading. Some other market force will fill this gap surely because lets face it, theres money to be made. There will always be someone who wants to profit from BTC.
