Is China the cause of Bitcoin's rise today? I honestly don't think so.
China announced expansionary measures to stimulate its economy, which has been really weak this past year and which also has no good prospects. Specifically, it has announced that it will increase its debt significantly.
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It also announced other measures such as making the rules for buying a home more flexible or reducing the reserves that banks need to grant loans. All of these measures would add up to more than 100 billion in liquidity in the market.
The markets have reacted in a mixed way but in general upwards, especially the Asian ones. These measures may be a support for Bitcoin like the reduction of American interest rates, but I don't think that is the main reason for the rise. I think that there is a more important underlying sea that deals with the change of financial paradigm.
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