Bitcoin Prices Down

Bitcoin Prices Down As Mt. Gox Concerns Escalate, Uncertainty about the future of major bitcoin exchange Mt. Gox is growing in light of its recent decision to take down its website amid escalating, as-yet-unconfirmed rumors that it has been the victim of widespread theft and could be nearing a lengthy or even permanent shutdown of its services.

Mt. Gox, through intermediary sources, told CoinDesk that it has no comment on the news at this time.

Now, the market is reacting to the lack of information about the developments.

At press time, prices at major bitcoin exchanges have recorded steep declines in just the last few hours, fueled by consumer uncertainty about the impact of a worst-case scenario at the once-leading bitcoin exchange.

After holding steady at roughly $550 throughout most of the day, the price of bitcoin on BTC-e declined sharply to a low of $480. From 9:00 pm to 12:00 pm EST, the exchange saw prices fall rapidly from $546.
The price of namecoin, novacoin, peercoin and primecoin also declined on the news.

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