The return is... Not here

Almost there... and nope...

With the huge dent in the Bitcoin market yesterday many people sold out and left... but some thought it was a new beginning. Some people yesterday took advantage of the low prices and bought huge quantities of coins hoping the market would shoot up again. which it seamed it would. looking at the very left most column on the picture (above) the market shot back up from 120 USD to 170 USD in one hour! many thought this was encouraging. Some may have profited but these waiting for it to hit its 220 USD mark were sadly mistaken when the market took another turn. in a matter of hours the market plummeted again to 120 USD on the Mt.Gox exchange!

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Bitcoin Loses Nearly Half Its Value TODAY!

Well it was speculated for a long time and now it's here!

        The Bitcoin market has crashed to a monthly low... Deja vu, With Bitcoins at an all time high earlier today people kept buying. "It will stop at 100" they said, but it continued and more a more people climbed on the Bitcoin Bandwagon. Seems familiar doesn't it. Let's go aback to Black Tuesday and think of what happened. The invincible way of making money was gaining attention. The stock was the platonic ideal to people. I won't go as far to say the same about Bitcoins but some but a lot of faith in it. Well the market did start from ~14$ to 250$ in a month or so, i can see how that's tempting but many of us have been awaiting this day. The day the large coin holders sell out. And today is that deathly day... The day shall be remembered, the day the the price went from 266.00 USD to a shocking 105 USD in 8 hours according to the Mt. Gox exchange. So what does this mean? Certainly not the end of Bitcoin to say the least. the price has been changing all day but is about 157.58 USD at the time of writing. But the Market has been shook. As watching the live chart prices will change as much as 5 USD per minuet.  Some new investor have sold their coins bought at 200 USD for huge losses, only making the drop bigger. How could this have happened? I know by now you are crying into you monitors so ill spare you some time. It was most likely carried out by a pump and dump scheme, in which prices are inflated by one or more people then sold once more people have invested and brought the price higher, resulting in a "bubble pop". Thankfully it seems as thought the community has recovered and is going up, but who know for the future. lat this be a wake up call that this is not yet a concrete currency.