Except that all Chinese exchanges / ICOs got banned a couple of months ago. The US is probably that largest market, it's the home of Coinbase ... I just don't see what you are basing this assertion on.
Edit: Also, I don't think the closure of the Chinese exchanges matters much since they can still buy Bitcoins, the exchanges just can't operate in China.
Edit 2: And my reason for the assertion wasn't any special knowledge of cryptocurrencies, but rather that there's lots of Chinese money pushing up asset prices in other markets, so I don't see why they same wouldn't be true of cryptocurrencies as well.
Just guessing here, but... If I were Chinese, and I liked the idea of cryptocurrency (especially the untraceable part), and the government banned it, do you think that ban would make me less interested in it? Or more?
Edit: Also, I don't think the closure of the Chinese exchanges matters much since they can still buy Bitcoins, the exchanges just can't operate in China.
Edit 2: And my reason for the assertion wasn't any special knowledge of cryptocurrencies, but rather that there's lots of Chinese money pushing up asset prices in other markets, so I don't see why they same wouldn't be true of cryptocurrencies as well.