Bitcoin was supposedly being used as an inflationary hedge, particularly in the Euro region. Today we got news of substantially depressed Chinese growth foreca

Bitcoin was supposedly being used as an inflationary hedge, particularly in the Euro region. Today we got news of substantially depressed Chinese growth forecasts, which caused the S&P 500 to drop more than 2% and Gold to fall close to 10%. (John Paulson's funds lost more than $1BB today apparently, since he has $9.5BB in Gold exposure in his hedge funds [1]) Given the anti-inflationary data (I hesitate to call it deflationary at this stage) that came out today and the massive drop in Gold price, a similar fall in Bitcoin price isn't particularly surprising. [1] http://www.bloomberg.com/news/2013-04-15/paulson-gold-bet-loses-almost-1-billion-chart-of-day.html http://www.bloomberg.com/news/2013-04-15/paulson-gold-bet-lo...