Bitcoin Goes From Trendy To Tacky In Just Three Months Analyst Says
The late mogul’s insight into the rag trade may also apply to Bitcoin. “Just as a ‘fashion faux pas’ can happen suddenly, we just received the proof that digital currencies can also quickly become passé,” Dr. Marion Laboure, an analyst at Deutsche Bank in London, said in a research report. “It took Bitcoin a mere three months to go from trendy to tacky.” Bitcoin’s recent swoon sliced as much as 50% off the cryptocurrency’s value from its all-time high before recovering some of the loss and raises basic questions about its emergence as an asset class and its utility in commerce....