THEN: May 28th, 2014

BTC to break $2,000 mark by Christmas – Experts

http://cointelegraph.com/news/111597/btc_to_break_2_000_mark_by_christmas_experts

So, you can just imagine the staggering overinvestment  NOW in bitcoin mining.

Maybe the market is just trying to get rid of overcapacity.

A few big bankruptcies in the coming months would probably do wonders.