Post
Topic
Board Speculation
Re: Crash to $2 imminent. Willing to bet.
by
Cluster2k
on 17/10/2011, 15:24:33 UTC
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.