It's Monday morning in Shanghai. The next 6 hours are critical. 

http://news.yahoo.com/imf-experts-recommend-inclusion-chinese-yuan-elite-currency-010527771.html
So, will BTC go down because China dumps their hodlings, or will it go up as USD devalues?
Perhaps both? First China dumps and we revisit $275. When they run out inflation takes over again and we're back to $400 before you know it.
The dollar has been dying for as long as I remember, or so they´re always saying, but is presently at a 7-year high and looking pretty healthy. The FED will most likely be forced to start hiking rates in the near future which should be good for the greenback. I would imagine that this would be rather bearish for bitcoin. If it is a counter-trade to the dollar like most things that is.
Perhaps. Looking at that chart, I can't help but think we're getting close to the other side of the hill. I don't know if the Fed will raise interest rates or not next month, but I suspect they're thinking about more QE. If the world starts dumping USD for Yuan, they won't have to.
