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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.
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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Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
Ano ang dapat malaman:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
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