Bitcoin is still a total disaster

There’s one thing a currency is supposed to do that bitcoin never has. That’s maintain a stable value.

Indeed, as investment analyst Eddy Elfenbein points out, bitcoin has gone through four bear markets in 2018 alone. Now, maybe you don’t care if your money periodically loses 20 percent of its value, but most people tend to. They want to be able to afford things whether or not cryptos are having a good day. Although when it comes to bitcoin, the price changes so quickly and so violently that it really matters what point you’re comparing it to. Over the last year, you see, bitcoin is actually up 91 percent, but over the last nine months it’s down 67 percent. That, as you can see above, is why inflation would alternate between being nearly negative 100 percent and positive 100 or 200 or even 300…