Bitcoin! It’s big! It’s skyrocketing! It’s something that many people are talking about but few understand! It did this:
And then it did this:
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And now its price is:
Update: We have a rebound, folks:
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
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