Will China’s Regulatory Decisions Affect the Bitcoin Price?
China’s state council is imposing stricter regulations for businesses that invest abroad. While this isn’t the full-on legislative map reported earlier, the move is likely to bear some consequences on the overall price and on the way digital currency companies do business. China’s influence on bitcoin has been staggering. This can be a good thing or a bad thing, depending on the events that occur. If the yuan drops and Chinese investors look to bitcoin to stabilize their assets, the price goes up and everybody’s happy. When something negative occurs, like the early month rumors or the Bitfinex hack, the price can fall within minutes.
http://www.newsbtc.com/2016/11/27/will-chinas-regulatory-decisions-affect-bitcoin-price/