Bitcoin! It’s big! It’s skyrocketing! It’s something that many people are talking about but few understand! It did this:

2013 04 10 12h45 06 730x432 The only two Bitcoin charts that you need

And then it did this:

2013 04 10 12h46 18 The only two Bitcoin charts that you need

And now its price is:

2013 04 10 12h46 49 730x270 The only two Bitcoin charts that you need

Update: We have a rebound, folks:

2013 04 10 14h44 23 730x491 The only two Bitcoin charts that you need

Personally I blame @SteveStreza.

In all seriousness, what is going on? An apparent DDoS attack on two key markets for Bitcoin has taken down trading speed to a crawl. When things get tight in that way, the price falls. Bitcoin may recover once the assault has passed, but that it can be so easily harmed isn’t likely to inspire new confidence in the currency.

That said, Bitcoin remains a relative unknown. To make too bold a pronouncement either way in terms of its long term viability is premature.

Top Image Credit: Luz Bratcher