I do think another reason for this increase, was China's decision to lift crypto mining out of their black-list (grey-list? ) for industries targeted most for government scrutiny. That said, upon reading this news, I'm somewhat concerned. With 2/3 of Bitcoin's Hash Rate centered around China, any future government crackdowns (e.g electricity theft/over-consumption, permits, pollution, fraud etc. and any other minor excuses ) could spell doom for Bitcoin's network security.
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I've been trying to count how many of the scam exchanges are Chinese and I've never managed to count them all... In large country like China, there is always the downside... There is more people taking advantage of the honest people... But good thing about China is that they have so much money that they are giving it free to people like me... American people usually give free money to just other American people...