Chinese Capital Flowing Through Bitcoin

WSJ: China Buying Sparks Bitcoin Surge
“There’s a lot of hot money in China that has to go somewhere,” says Du Jin, chief marketing officer at Huobi. Huobi has seen a surge of new registrants in the past one month, he said.

Expectations that new supply of the virtual currency will decrease next month could also be behind the latest price surge. The creation of bitcoin via a complicated computing process called “mining” gets more challenging over time, thanks to a mechanism which cuts the number of bitcoin that can be created in half every four years in order to limit supply.
It's obviously Chinese demand because of the massive volume on CNY exchanges and the premium being paid in China.

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