Does Bad Back links Devalued By Google ?

Hi

We are Continues Seeing Penguin update ... Whether Google did not Declare it  ....After Penguin 3.0 Update ....Google Confirmed about next To Penguin 3.1 But According to my Data ; I Noticed Many updates During 15 Days ....

At The Time of Penguin 3.0 Release , Many websites Disappeared From search ( 17 October 2014 )  
And on 25 November Mostly Recovered without Any work , 99 % Websites are on the main track now; but All Keyword Did Not Get Old Ranking , If A Websites Keyword Was on 1st Position Then now it is on 7th Position.

WHAT CAN BE NEXT IN GOOGLE SEARCH ENGINE ALGORITHM ?


Google is now Tricky and some Webmaster said that Google did not Give any Thanksgiving day Gift; their was an whole upgrade in Google algorithm and Google have to Implement in the search but Google employee still working on it.
So Google Taken Back whole Google Algorithm and now we have to only Wait for New Version of Penguin.