Bitcoins are a virtual currency based on computer algorithms. Recently their exchange rate for US dollars hit a high of $266 per bitcoin on April 9th. But just a month ago in mid March the rate was under $50 at around $47-48. As I write this today their value is now worth $87.
Here is a chart of the past 60 days :
|Data source : http://bitcoincharts.com/, |
This chart is licensed under a
Creative Commons Attribution-ShareAlike 3.0 Unported License.
If that isn't a bubble bursting then I don't know what is. It was a quick one too. In just 3 weeks the value shot up over +400% and then a week later it had plummeted -67%.