The BRICS countries are currently calling the bluff of the dollar reserve system. The debasement trade has entered the popular lexicon. And the efficacy of the US's perceived leverage is being called into question. This was made abundantly clear over the weekend with Trump's flip flopping on the rare earth metals negotiations.
Using traditional metrics and heuristics to navigate these waters will be a futile exercise. Fiat is being called into question and many global superpowers are retreating to neutral hard assets.
The bitcoin price isn't moving much now, but it will most definitely benefit handsomely from this transition. Especially when you consider the fact that it is a strong counter-move to BRICS countries moving to a gold settlement network.
I 100% like the idea of Bitcoin becoming a counter to New Gold Standard of BRICS, however I doubt that US and co (politics) understand Bitcoin as much as BRICS have faith in Gold. One more thing is that It's highly mis-understood that BRICS nations are not taking Bitcoin as much seriously as USA and Co are.