Regardless of what you think about Bitcoin’s viability as a currency that people actually use, it should be clear that one pre-requisite is price stability.
Plunging exchange rates means nobody will want to hold the currency for any length of time. Surging prices means nobody will want to actually use Bitcoin for purchases, and instead just horde it for speculative purposes.
And stability is exactly what Bitcoin has been displaying of late.
After some major instability back in April, the month of May has been very quiet, with the price rising quietly and modestly throughout the month.
Via Bitcoincharts, you must admit the month of May has been nice.