Wow, I leave for a couple of hours and someone broke bitcoin. $2.26. Just... wow. I'm honestly surprised the market has capitulated so fast and deep.
Some posters have blamed the bears on this forum for the fall from $20+ to $2. Well, if a few bears are enough to crash an entire market then bitcoin has very serious problems.
Can we finally bury the notion that bitcoin is in a bull market? Even the fanciest log graph isn't likely to put a gloss on 90% price drop from peak.
At least now we should see miners quitting en mass, and returning the difficulty level to something more realistic. 50% off would be nice. I can't believe the majority of miners left out there are power thieves or on fixed contracts.