Circular text in the Voynich: does the writing actually form a loop?

[eggyk]

I have always assumed that the writing must start and end somewhere within the circle for it to make sense. Why would it keep looping seemlessly? 

Normally there is a clear mark or gap to show that the text ends, but not always. Note that the inner circle of the capricorn example below doesn't have an obvious start or end point. I do not think that the text "loops", or that the beginning and end transition into eachother.