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Bitcoin is headed to the ‘ash heap’

January 16, 2015 /

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The Swiss Franc might be the currency getting all the attention, but the real blood bath is in Bitcoin.

Remember how Bitcoin was supposed to change everything? And the dollar was dead? Boy, was that ever wrong. The value of Bitcoin is in absolute freefall – as the U.S. dollar strengthens and looks even more promising given the Fed’s stance on rates.

Talk about a bust. Today you can buy a Bitcoin for $196.546, says currency tracker Oanda. That’s means the digital currency – that was supposed to render the greenback obsolete – has lost two-thirds of its value in just six months. Ouch.

By: Matt Krantz

Full Story: http://americasmarkets.usatoday.com/2015/01/16/bitcoin-is-headed-to-the-ash-heap/

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