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Bitcoin was World's Worst Performing Currency in 2014

Bitcoin was World's Worst Performing Currency in 2014

Bitcoin was World's Worst Performing Currency in 2014

Bitcoin was World's Worst Performing Currency in 2014

 

It has been a bad year for several of the world's currencies as conflict, politics and the global economic downturn are affecting many of the world's nations. The Russian Ruble and the Ukrainian  Hryvnia are among the worst performing currencies in 2014 the Cryptocurrency Bitcoin has performed much worse with it's value lowering from it's peak value of $1,130 a year ago to around $326 now.

 

Bitcoin was World's Worst Performing Currency in 2014Image above from Bloombergview  

 

Since January of this year Bitcoin has dropped in value by over 56%. A lot of this price drop has been attributed to the use of Bitcoin for money laundering and for other illegal purposes with even the vice-chairman of the Bitcoin Foundation, Charlie Shrem, being imprisoned for 2 years for illegally transferring money. 

 

here are some more of Bloombergview's views and lessons when looking at this years currencies. 

"So what are the lessons from this year's currency losers? Being at war is worse for a currency than not being at war, whether you're fighting the world's financial authorities for legal validity, or engaged in a guerrilla skirmish as either aggressor or victim. Having friends with deep pockets helps when you get into trouble; Russia does, while Ukraine's international agency pals are hamstrung by their lending rules," 

"Most of Bitcoin's supporters, meanwhile, seem to be hackers whose resources depend upon the Ponzi-scheme nature of the enterprise itself."

 

With a current value of $326 Bitcoin is certainly not dead yet, but with a drop of over 50% this year a lot of analysts think that Bitcoin is on it's last legs. 

Many sites are even calling aging industries like Newspapers and even Camera Film as safer investments than Bitcoin.

 

Join the discussion on Bitcoin being this years worst performing currency on the OC3D Forum.

 

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Most Recent Comments

30-12-2014, 11:32:12

d3rrial
Hehe, true, 2014 was rollercoaster time Quote

30-12-2014, 11:39:03

Thelosouvlakia
If Bitcoin was going good anyways the banks would fight it to death, so...Quote
Reply
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