Bitcoin Was Also The Worst Performing Investment of 2011, 2012 and 2013
The mainstream media has declared bitcoin as the worst performing investment or currency of 2014. I did some analysis and found out that bitcoin has been the worst performing investment for all the past years too. Let me explain.
Including the current cycle, Bitcoin has gone through 4 cycles as the worst performing investment.
You cannot really see how poorly bitcoin has performed in the above cycles. Below is a zoomed in version of each cycle.
Cycle 1 (2010)
As can be seen below, bitcoin went from a high of $0.39 to a low of $0.19. This was a loss of 51%, making it a really bad investment in 2010.
Cycle 2 (2011)
After a terrible performance in 2010, bitcoin continued to perform terribly in 2011. After gaining 7,315% from it’s previous high of $0.39, touching $28.92, it went to a low of $2.05, wiping of 93% of it’s value. This made bitcoin by far the worst performing investment of 2011.
Cycle 3 (2012–13)
The period between 2012–13 was no different. Though bitcoin gained 695% from it’s previous high and touched $230.00, history repeated itself and bitcoin embarrassingly lost 71% of it’s value. Making bitcoin the worst investment, not strictly this time for a certain year but definitely for 2012 to mid-2013.
Cycle 4 (2013–14)
As rightly reported by the mainstream media, bitcoin continues to be a terrible investment and earned the well deserved distinction of the worst performing investment of 2014. Although it gained almost 400% touching $1,147.25 from it’s previous high of $230, it lost 76% of it’s value as on date.
Bitcoin is doomed, kaput, done for, finito. We look forward to updating this post when we are in cycle 5. And yes, bitcoin has been the best investment of 2010–2014.
* All charts are screenshots taken from CoinDesk
