If you think oil had a rough 2014, consider bitcoin. <\/p>\n
The digital currency has plunged 54 percent since the beginning of the year. <\/p>\n
By contrast, Brent crude has fallen 44 percent; the ruble is off some 46 percent against the dollar. <\/p>\n
The dramatic reversal bitcoin reached more than $1,100 in 2013 and is now trading at about $350 is prompting skeptics, who long said the currencys promise was overhyped, to say told you so. <\/p>\n
I dont know that its on its last legs, but its not looking good, said Nathalie Reinelt, an analyst at the financial-consulting firm Aite Group in Boston. <\/p>\n
Reinelt has written reports expressing doubts that bitcoin will become a mainstream currency. <\/p>\n
Its not in a healthy state, Reinelt said. <\/p>\n
There are still plenty of bitcoin die-hards out there. Silicon Valley investor Tim Draper remains a booster. <\/p>\n
Conferences devoted to the so-called cryptocurrency are attracting droves of adherents. <\/p>\n
Venture-capital firms are funding bitcoin-related startups. <\/p>\n
<\/p>\n
Read the original post: If you think oil had a rough 2014, consider bitcoin. The digital currency has plunged 54 percent since the beginning of the year. Continue reading
\nBitcoin ends year in the dumps<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"