I think that many expects that the Chinese exchanges will not close or will reopen very soon after 30/9, that's the reason for this recovery.
"Buy on rumors, sell on news"
Stale news and the community have already moved on! China is only a fragment of Bitcoin and the cryptocurrency world, they erred by jumping to the conclusion that they were indispensable, of which they're not.
And many buyers and sellers - whether they are speculators and want to use Bitcoin as store of value - do they trades based on what's expected to happen next.
Many Chinese (and not only miners) have panic-sold. If the things get back on track in China, the trend will reverse: many people will buy again, whether as speculation or store of value.
Do u think the price may keep raising or decrease ??
Depends on the news. If the exchanges will remain open, we may get back to $5000 very fast.
If not, even one more price decrease is possible.
Japan have taken over more than 50% of daily trade volume, there is South Korea, there is Australia and a voracious global appetite, China will now have to fight to merit relevance.
I still believe that China was the one that made Bitcoin reach 5000$ and China was also one of the many that made Bitcoin fall to 3000$.
Of course, the newcomers help with keeping Bitcoin at 4000$ and even without China Bitcoin will rise sooner or later, but with China it'll rise earlier and faster.