Nothing is collapsing, it went down ~1k and now going back up. Just a regular day in BTC.
Original title: Bitcoin's price is collapsing and people can't trade because 2 big exchanges have crashed
Techmeme summary: Becky Peterson / Business Insider: Winklevoss' Gemini exchange and Coinbase suffer extended service outages, citing “all-time high traffic”; bitcoin dropped to $9.4K from all time high of ~$11.4K
Coinbase had degraded service. One exchange can't build or crash the price.
This is one of the big differences between trading in 2013 and trading today. It's not like with Mt. Gox where one exchange holds nearly all the cards. A greater variety of services today can help Bitcoin users weather more inconveniences.
Collapsing? The price is higher than it was 4 days ago...