$117 with many big buys. its 10AM sunday in hong kong. are we sure this action is from the CCTV news piece?
News will backfire. Btcchina sucks, it's a small exchange for pocket change. Withdraw from there is limited to 10 BTC per day.
Chinese can trade BTC now. What's stopping other exchanges from outperforming BTCCHINA? I don't see why limit should stay at 10 BTC with many wealthy Chinese wanting in on the action.
It will change but I suspect it's going to take weeks or months.
Speculative trading on the Chinese news is happening now which in my opinion is way too early.