Did China Drive Bitcoin's Price to 2016 Highs?The price of bitcoin surged nearly 20% during the week ending 3rd June, rising to its highest point in 20 months. But what was the cause of the increase?
Mainstream media sources have largely attributed this sharp increase to demand from the Chinese market, prompted by yuan devaluation. But not everyone agreed with this explanation, as some market experts asserted that the rally was tied to other developments both within and outside of the digital currency ecosystem.
http://www.coindesk.com/china-drive-bitcoins-price-2016-highs/