About one year ago, I posited that merchant adoption might lead to a death spiral for bitcoin. It's interesting to see some data that suggests the downward pressure of merchant adoption on price. It looks like in the current situation, BTC found a floor around $200 with whatever demand there is. However, in about 2 weeks time, it is going to be far easier for people to buy BTC. I have a feeling that this is going to lead to another BTC bubble.

Here's a question: What makes for a good reserve currency? What would BTC need to be to qualify for one?