Coinbase, one of the biggest bitcoin marketplaces, says buying and selling temporarily disabled amid price rout
Coinbase says at 11:11 a.m., ET, that "all buys and sells have been temporarily disabled."
The interruption in service comes as bitcoin briefly tumbled below $11,000, down 44 percent from its record high hit Sunday.
On Thursday, Coinbase had temporarily disabled buys and sells at 5:57 p.m., ET, according to its status website. The issue was resolved within 15 minutes.
Coinbase, one of the biggest bitcoin marketplaces in the U.S., said Friday that buying and selling was temporarily disabled amid a price rout in cryptocurrencies.
"Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET.
The company added in a subsequent statement that "due to today's high traffic, buys and sells may be temporarily offline. We're working on restoring full availability as soon as possible."
Bitcoin traded about 18 percent lower near $12,800 on Coinbase as of 11:39 a.m., ET. Earlier, the digital currency had fallen as low as $10,400, down 44 percent from its record high hit Sunday.
Coinbase's mobile app, one of the most popular overall applications in the Apple App store this month, is a leading way in the U.S. to buy and sell major digital currencies bitcoin, ethereum and litecoin. The company added trading and buys and sells for bitcoin's offshoot bitcoin cash in a rocky rollout this week.
On Thursday, Coinbase had temporarily disabled buys and sells at 5:57 p.m., ET, according to its status website. The issue was resolved within 15 minutes.
Coinbase has struggled in the last several months to keep up with high demand. On Dec. 12, the company temporarily suspended buys and sells of ethereum twice in one day.
Sources:
www.coinbase.com
https://news.bitcoin.com/coinbase-set-raise-10-5-million-japanese-investors/
Tumbled below 11k, a support level proposed by @haejin , weird that Coinbase would block trading at that particulat point, russian collusion?
Maybe ... Coinbase is not stable at all since they released Bitcoin Cash
Coinbase is ridiculous, I was really waiting for this dip and was thinking 13k to 11k is what I thought will be a good entry point to convert more of my fiat to BTC. But when the price dipped to 10.3K , coinbase would not let me buy at all. Until it crossed 11k
Wrote about dip buying here : https://steemit.com/cryptocurrency/@aram1231/the-long-awaited-correction-and-btfd-opportunity-did-you-buy-like-crazy
In my humble opinion ... Coinbase played a huge scam when released Bitcoin Cash ... now Coinbase doing another scam ... I have no trust in Coinbase or what so ever.
It seems to me the "big money" is now in the game, which means it's time for the sheep to get fleeced.
100% agree with you ..
That is pretty ridiculous that Coinbase is refusing any transactions because now is a great time to buy. Anyway great blog man, way to keep us informed.
@joshuagamboa You are correct brother ... That is pretty ridiculous
You are the man ... Thank you for your nice words ... happy new year my friend