China is no longer the important factor as they were before the regulations that have been put in action by the PBOC.
In reality, they just fooled everyone into thinking they were really that important to Bitcoin -- it was one big theater show. It was insane how they were trolling the entire markets there with daily volumes of 2-4 million traded coins per exchange (referring to Huobi, OKCoin, BTCChina). I am glad that the market gets dominated by western exchanges again. Thank you PBOC.
I agree with that
In fact, this is what I wanted to write myself, namely, that they tricked us into thinking that they were somehow important with their insane volumes. To be honest, this is what I claimed myself back then giving the numbers of their daily trading volumes which had been by far exceeding those of the rest of the pack (Bitstamp, Btc-e, Bitfinex, to name a few). It turned out that their real volumes were a lot less (if not to say orders less). If things were like that with Bitcoin mining, China would be completely out the picture