The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money. Bitcoin is investing in currency 2016 stranger to extreme fluctuations.
Luckily, for those that follow the digital currency closely, those fluctuations were mostly pointed in an upwards direction for 2016. 23, which is more than double its value from the beginning of the year. Were any other global currencies able to compete with bitcoin’s strong performance throughout the year? Traders are hoping that center-right President Michel Temer can ease public spending following the departure of Dilma Rousseff. Russia’s ruble also finished the year with double-digit gains, up 17. However, a rosier picture for oil was not enough to buoy all producers.
Africa’s biggest economy, Nigeria, fell into its first recession in 25 years during the opening half of 2016. Unofficially, Venezuela’s struggling economy has been pushed to the brink by its ongoing currency crisis. And in the opening days of 2017, the cryptocurrency has already gained a head start on other global currencies. 1,000 mark in the first days of New Year trading, and could be poised to three-peat for the title of best-performing currency of the year. Jeff Desjardins is a founder and editor of Visual Capitalist, a media website that creates and curates visual content on investing and business.
38 Incredible Facts on the Modern U. Subscribe to get daily visuals on money and investing. 2016 has been a roller coaster of a year, and currency markets are no exception. A few countries have fared well, but others have seen the value of their currencies fall dramatically. Egypt took the radical decision to let its currency float freely in November. The move was part of an attempt to ease its deep economic crisis and secure an emergency loan from the International Monetary Fund. Nigeria struggled with low oil prices for most of the year, a trend that put its currency under pressure.