Even if you don't short, the fact that dollars are worth more after tapering will lead people to not pay as much for a bitcoin. Dollars would purchase more of other assets. It's going to be problem regardless, but I think one of the large hedge funds dumped a lot of BTC yesterday. I saw an order for a 30,000 BTC sell yesterday. Right after the FOMC minutes came out... Co-incidence?

The USD is rising in value against many major western currencies such as the AUD and CAD and GBP...