$/BTC, Mt. Gox, last 6 months.
That is an absolutely classic speculative bubble. And when bubbles pop, they pop all the way. Because there is no intrinsic value to Bitcoins (unlike, say, houses), "all the way" means down to zero.
Bitcoin was an interesting idea as a medium of exchange for micropayments. But it turned into a pyramid scheme. Once it did, it was doomed to repeat the pattern of all pyramid schemes.
Read the FTC's history of pyramid schemes in the last 30 years..
Oh, and for those people who keep yelling "Troll":
"Beware of any plan that delays meeting its commitments while asking members to "keep the faith." Many pyramid schemes advertise that they are in the "pre-launch" stage, yet they never can and never do launch. By definition pyramid schemes can never fulfill their obligations to a majority of their participants. To survive, pyramids need to keep and attract as many members as possible. Thus, promoters try to appeal to a sense of community or solidarity, while chastising outsiders or skeptics. Often the government is the target of the pyramid's collective wrath, particularly when the scheme is about to be dismantled. Commission attorneys now know to expect picketers and a packed courtroom when they file suit to halt a pyramid scheme. Half of the pyramid's recruits may see themselves as victims of a scam that we took too long to stop; the other half may view themselves as victims of government meddling that ruined their chance to make millions." - FTC general counsel, 1998.
