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This article was published on April 10, 2013

The only two Bitcoin charts that you need

The only two Bitcoin charts that you need
Alex Wilhelm
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Alex Wilhelm

Alex Wilhelm is a San Francisco-based writer. You can find Alex on Twitter, and on Facebook. You can reach Alex via email at [email protected] Alex Wilhelm is a San Francisco-based writer. You can find Alex on Twitter, and on Facebook. You can reach Alex via email at [email protected]

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

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And then it did this:

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And now its price is:

2013-04-10_12h46_49

Update: We have a rebound, folks:

2013-04-10_14h44_23

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