Over the years Bitcoin has had a tendency to have spikes of speculative trading. Most of these spikes last for fairly short periods of time and tend to settle a standard trading rate.
I don't think it's indicative of the viability of the currency itself. Just think of oil. There are frequent speculative spikes in price and subsequent falls in price but the oil still flows and people still buy it.
Over the years Bitcoin has had a tendency to have spikes of speculative trading. Most of these spikes last for fairly short periods of time and tend to settle a standard trading rate.
I don't think it's indicative of the viability of the currency itself. Just think of oil. There are frequent speculative spikes in price and subsequent falls in price but the oil still flows and people still buy it.