{"id":14950,"date":"2019-06-27T00:00:00","date_gmt":"2019-06-27T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2019\/06\/27\/bitcoin-btc-flash-crashes-by-2k-as-coinbase-reports-platform-outage\/"},"modified":"2019-06-27T00:00:00","modified_gmt":"2019-06-27T00:00:00","slug":"bitcoin-btc-flash-crashes-by-2k-as-coinbase-reports-platform-outage","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-btc-flash-crashes-by-2k-as-coinbase-reports-platform-outage\/","title":{"rendered":"Bitcoin [BTC] Flash Crashes by $2K as Coinbase Reports Platform Outage"},"content":{"rendered":"

Bitcoin price<\/strong><\/a> volatility has reared its head again on Wednesday after ET following a rally to new year-to-date highs. The price of the flagship cryptocurrency rose to $13,880<\/strong> on the Luxemburg cryptocurrency exchange Bitstamp only to flash crash to $11,794<\/strong> a few minutes after losing more than $2,000 in a span of fewer than 30 minutes.<\/p>\n

<\/p>\n

In an attempt to salvage their portfolio, several investors on the Coinbase platform, a leading US-based cryptocurrency exchange flocked to the website causing a temporary outage at approximately 1:45 p.m. PDT. Users who visited the website were greeted with the blue screen with an automated error message stating \u201cAN ERROR HAS OCCURRED.\u201d<\/p>\n

\"bitcoin-btc\"<\/a><\/p>\n

The outage reportedly affected the entire Coinbase interfaces including the website, its mobile application interfaces as well as API. The outage was, however, fixed fast as a few hours later the popular trading platform announced through its status page<\/a><\/strong> that \u201cA fix has been implemented and we are monitoring the results.\u201d That was about 5:17 pm ET. So far the platform has not experienced any issues after the Wednesday afternoon mishap. Similarly, trading platform Robinhood also reported through its status page<\/a><\/strong> that it was experiencing issues around the same time that Bitcoin price plummeted.<\/p>\n

Bitcoin has continued its parabolic price rise over this quarter gaining more than 240% since the start of April on Bitstamp. The coin has blasted through several resistance levels without batting the eye including the highly anticipated $10,000 psychological resistance which was also breached definitively over the past weekend.<\/p>\n

The next resistance level that was at around $13,500 was also breached in its latest rally just before the brutal correction, from which the price has since rebounded to the higher $12K figures as of press time.<\/p>\n

Despite its $2K flash crash, the coin is still up about 8% according to Coinmarketcap still leading the overall cryptocurrency. Only Chainlink is currently registering more gains in the last 24 hours following its listing in the popular Coinbase exchange.<\/p>\n

The token is up more than 17% against a sea of red. Most altcoins are undergoing massive capitulation as they follow Bitcoin\u2019s fall as they are posting losses of about 4-8%. Ethereum, the leading altcoin has, rather impressively, recovered from a minor retrace also trailing Bitcoin\u2019s price action and is in the green as of press time with gains of about 5% over the same time period.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price volatility has reared its head again on Wednesday after ET following a rally to new year-to-date highs. The price of the flagship cryptocurrency rose to $13,880 on the Luxemburg cryptocurrency exchange Bitstamp only to flash crash to $11,794 a few minutes after losing more than $2,000 in a span of fewer than 30 … <\/p>\n

Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":14951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4602,4910,4642],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/14950"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=14950"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/14950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/14951"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=14950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=14950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=14950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}