Dow Ends 5-Day Losing Streak; The End of Bitcoin May Be Near

After closing down all the week the Dow snaps a 5-day losing streak and ends the day up around 200 points. Despite the rebound, both the Dow and the S&P 500 are down 1.3% for the week. While Swiss Franc has been getting all of the attention this week, the real problem is Bitcoin. In just six months the currency that was supposed to make the dollar obsolete has lost two-thirds of its value and can now be purchased at the low price of $196.546. Jeffrey Gundlach, well-respected money manager, stated that Bitcoin is "pretty much on its way to the ash heap of alternative currencies."

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Published on Jan 16, 2015
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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