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Coinbase Goes Down as Bitcoin Approaches 2019 Highs
Coinbase has halted trading on its platform as bitcoin rises to 2019 highs.
Updated Sep 14, 2021, 10:24 a.m. Published Oct 27, 2020, 11:49 p.m.
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U.S. cryptocurrency exchange Coinbase has disabled trading due to feed issues amid bitcoin's ascension towards 2019 highs near $13,880.
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- According to a company update on Wednesday, Coinbase said it is "currently investigating the issue," but no further comment was provided.
- Coinbase has suffered a number of outages during busy trading periods this year including on Sept. 4, the last time an outage caused trading to halt, according to the company's status page.
- The outage comes at a time when bitcoin has been fast approaching new highs not seen since June 26, 2019.
- "All updates will be posted in the link," Coinbase Senior Manager of Communications Crystal Yang told CoinDesk via email.
See also: Coinbase Received Over 1,800 Law Enforcement Information Requests in the First Half of 2020
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
Bilinmesi gerekenler:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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