It appears that nearly every time Bitcoin goes on one of its wild rides, the Coinbase exchange crashes. Is it just a coincidence or is something else afoot?
Coinbase users might miss out on a big opportunity window once again, as the website encounters downtime amid critical buy orders.
Buy orders will have been executed across the world as the asset broke resistance just below $8,000. Bitcoin has surged over a thousand dollars in the past 24 hours taking prices back towards US$9,000 [AU$13,753] again as the buying pressure ramps up.
— Coinbase Support (@CoinbaseSupport) April 29, 2020
Coinbase is like the Apple of crypto— it attempts to simplify the technology for the laymen and charges a lot for that service.
The outage happenstance was not missed among the crypto community, some of which commented:
“Coinbase crashes practically every Bitcoin pump, and I don’t think it’s because they can’t handle the traffic”
While others added:
“Just like clock work, everytime there is a spike and big profits coinbase always had an issue where people cant get their profits.”
The San Francisco-based digital currency exchange service hoovers up some of the largest profits in the crypto industry with its charges and excessive fees.
Therefore, it should be able to support instances where the volume is high and people want to trade or take their own profits.
Image courtesy of Coinbase