Bitcoin recently crossed the 200USD threshold this week, largely led by Chinese interest.
China is a very interesting market for BTC. In my experience, they are generally more technically savvy and motivated than the US (they have a higher threshold for technological inconvenience and complexity), and the economic environment is very different. China likely has uses for bitcoin that much of the rest of the world does not, the most commonly mentioned is capital controls, but I suspect there are others.
I predict another bubble, maybe of an order of magnitude higher than the last.