March 17, 2018

Bitcoin transaction temporarily disabled on Coinbase, one of biggest digital currency market

23 December 2017, 01:33 | Frank Carlson

Bitcoin transaction temporarily disabled on Coinbase, one of biggest digital currency market


One is the growing popularity of Bitcoin Cash, the derivative of Bitcoin that was born after one of the hard forks of the "people's currency".

Bitcoin wasn't the only currency hit by a sharp drop.

The markets have just opened, but there is already a lot of news getting pumped out to the world.

After hitting an all-time high of $20,000 just days ago, Bitcoin has now dropped with nearly one third of its value, now trading at around $13,000.

The price of bitcoin has plunged by another 18% following the latest drop on Wednesday, which means that it is down by over 30% since the cryptocurency reached the record peak of $20,000 last week.

There's been no explanation for the sudden and precipitous drop in bitcoin's value, but it isn't the only blockchain-based currency to see prices drop.

Woman claims hotel charged her $350 for bad review
Katrina Arthur stayed at the Abbey Inn and Suites in 2016 and wrote a review online complaining about the hotel's conditions. As any disgruntled vacation-goer would, Arthur channeled her inner angry Yelp reviewer and went to town on the establishment.

It's valued at about £2,600 per coin, which is much lower than the £11,700 a Bitcoin is being sold for right now.

With that being said, I'm sad to report that it's not just Bitcoin struggling on Friday.

A new kind of digital dosh called Bitcoin Cash is gaining mainstream acceptance and is now available to buy and sell through Coinbase, a major cryptocurrency exchange.

Earlier on Tuesday, traders on Twitter alleged that news of Coinbase's launch of bitcoin cash support had been leaked before the official announcement. The Coinbase team is reportedly looking into the problem.

Buys and sells on Coinbase, the largest cryptocurrency exchange in the USA, were disabled for a little over two hours Friday amid a massive cryptocurrency sell-off.

It was only a month ago that it was disclosed that Coinbase had more users than stock brokerage Charles Schwab, and for those reasons and many more, it is surprising to realize that this isn't the first issue the exchange has faced in recent months. Oldenburg goes on saying that investing in Bitcoin now would be the "riskiest" investment someone could make.

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