Bitcoin's value is up 500 percent in the past two months (click for larger image).
(Credit: Bitcoincharts.com)
The value of Bitcoin has been skyrocketing of late, gaining more than 50 percent in the last few days, but two unrelated events today knocked the virtual currency back down a bit.
The peer-to-peer currency, which was languishing in the midteens in January, surged past $100 on Monday and was trading as high as $147 today before an hour-long outage at Mt. Gox, the world's largest Bitcoin exchange, pushed its value down to $115. The currency rebounded a bit to close at $123, a 500 percent increase in the past two months.
Mt. Gox initially blamed the outage on a surge in trading volume that created a lag in trading and order cancellations. However, in a subsequent tweet, the exchange said it was experiencing a distributed denial-of-service attack.
@binarybits @dksdan can confirm we are eating ddos right now, and for some reason Prolexic didn't block it
— MtGox.com (@MtGox) ... [Read more]
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