Coinbase , one of the great market for buy and selling bitcoin , announced that all purchasing and selling has been temporarily handicap . The proclamation comes in the midst of a damage economic crisis for Bitcoin and other cryptocurrencies , and it ’s not yet clear when Coinbase will open back up again .
Bitcoin ’s value has zoom over the retiring few months , but has been rectify back downward this week and receive a significant drop in economic value today . Although its value has been fluctuating quickly , it ’s currentlydown about 33 percentfor the week .
On itsstatus website , Coinbase said that the freeze was triggered by high traffic . “ Due to today ’s high-pitched traffic , buys and sells may be temporarily offline . We ’re working on reinstate full availability as soon as possible , ” the site said .
https://gizmodo.com/bitcoin-crashed-and-took-the-whole-market-down-with-it-1821529613
This is n’t the first prison term Coinbase has been forced to broach a impermanent freeze . Earlier this calendar month , the situation halted sales of ethereum twice in one 24-hour interval , CNBC reported . Coinbase also attribute that issue to eminent traffic , which come during a spike in ethereum ’s value .
inventory exchanges sometimes issue trading halts when a public company is announcing news that may cause its store to fluctuate . But these exchanges are heavy regulated — and cryptocurrency exchanges , of course , are not .
Update 1:45 p.m. : Coinbase is back online and users can start buy and sell again , according to the sitestatus Sir Frederick Handley Page . Coinbase say it is “ monitoring for stableness . ”
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