For the past few weeks we have been detailing the tightening of China capital controls and what that may mean for Bitcoin (most recently here). It appears the outflows (that offshore Yuan weakness relative to onshore Yuan suggests) are accelerating as Bitcoin just traded above $314 (up from around $200 when we first warned about China) – near the highest since December 2014.

Perhaps today’s acceleration is on the heels of The Fed statement and expectations of a response from China…

Click on image to enlarge

Notably look at the consistently increasing volume (lower panel) reinforcing this surge.

As we recently concluded, the last week or two suggest, perhaps more importantly, that China easing (and outflows implict from further devaluation) now appears to go straight to Bitcoin.

As Overstock’s Chairman noted previously: gold is great, but tough to transport; thus, forcing Chinese into Bitcoin  (up from around $200 when we first warned about China)