{"id":8447,"date":"2019-01-04T13:17:04","date_gmt":"2019-01-04T18:17:04","guid":{"rendered":"http:\/\/162.241.156.118\/~azzadasset\/?p=8447"},"modified":"2024-04-15T13:00:01","modified_gmt":"2024-04-15T13:00:01","slug":"the-bitcoin-bust-of-2018","status":"publish","type":"post","link":"https:\/\/intelliserver.net\/wordpress\/market-commentary\/the-bitcoin-bust-of-2018\/","title":{"rendered":"The Bitcoin bust of 2018"},"content":{"rendered":"

\"Bitcoin\"If you thought investing in stocks was bad in 2018, be glad you stayed away from Bitcoin.<\/p>\n

While stock market investors are still nursing their wounds from a down year in 2018, Bitcoin investors were devastated. The cryptocurrency has fallen considerably from the dizzying heights it reached in December 2017. As of this writing, Bitcoin has lost 80% of its value since the beginning of 2018, while the total market value of all cryptocurrency had fallen about 87%.<\/p>\n

Part of the problem is that Bitcoin is hard to value, and its value fluctuates wildly–even worse than stocks did in December. A typical asset has a set of cash flows, and its value is driven by investors\u2019 expectations of those cash flows. Cryptocurrencies have no cash flows. Because of this, they’re more like gold; their value is driven to some extent by their desirability and potential uses, but mostly by the cost of mining.<\/p>\n

While there are many estimates of the cost of mining Bitcoin, most suggest that it’s close to $5,000 per coin. As of this writing, Bitcoin is valued at around $3,600 per coin.\u00a0Now that it is valued below its cost of mining, there is little incentive to mine any more, which doesn’t bode well for the cryptocurrency’s future prospects.<\/p>\n

Of course, there could still be ups and downs because there’s no good way to value the asset. Either way, it’s clear that investing in Bitcoin was a bad idea. Be glad you didn’t.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you thought investing in stocks was bad in 2018, be glad you stayed away from Bitcoin. While stock market investors are still nursing their wounds from a down year in 2018, Bitcoin investors were devastated. The cryptocurrency has fallen considerably from the dizzying heights it reached in December 2017. 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