It’s not a good sign when your currency falls even faster than that of a discredited, sanctioned, and unstable nation. Bitcoin has fallen in value faster than the Russian Ruble. Within super-secret Bitcoin it is harder to learn the reason for the drop, but it may reflect the effectiveness of police actions against the illegal transactions that were taking advantage of Bitcoin’s super-secrecy. That’s doesn’t undermine the long term value of the concept of cryptocurrencies, because digital currencies are uniquely suited to a digital world. It does mean, however, that Bitcoin et al may have become established far faster than they would have if only legal transactions were conducted. Entire nations began because of unpleasant solutions to problems that eventually found reasonable solutions. Hello, Australia. Whether this is the time to buy Bitcoin is another issue that will only be knowable in retrospect.
PS Shift that chart’s initial condition by a week and the situation for Bitcoin is even worse.
“The Bitcoin Collapse Is Even Worse Than The Ruble Route” – Quartz
Pretending Not To Panic 