BitCoin Falls Another %10-15 in Last 24 Hours June 28, 2013
Bitcoin has been steadily falling since the ASIC hardware based bitcoin mining machines have started shipping. ASIC miners such as Butterfly Labs 5GH/s ‘Jalapeno’ unit have finally shipped to customers, causing a new flood wave of advanced high speed mining. This in turn has caused the valuation of the virtual currency Bitcoin to fall dramatically.
Standard economics dictate this will continue until the last block is hashed out and the currency will then rise again.