Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Tanimariya on June 13, 2020, 04:25:41 PM
-
2020 has been one of BTC’s most volatile periods, but why do cryptocurrency exchanges keep crashing under high demand?
Nobody can really predict Bitcoin’s (BTC) price volatility. But one thing is becoming painfully predictable when the price of Bitcoin suddenly lurches in one direction or another: One or more of the major cryptocurrency exchanges simply goes offline. This leaves users powerless to prevent losses from spiraling, as they are left unable to trade or buy more positions as a hedge.
These outages have happened time and time again. Most recently, as Bitcoin started climbing toward the $10,000 mark, Coinbase went offline. At the time it happened, Cointelegraph reported that this is the fourth time in the last three months that Coinbase has shut down during major moves in the price of BTC. Additionally, Twitter user CryptoWhale pointed out that there have been no fewer than 11 Coinbase outages over the last 12 months, each one coming at a time when Bitcoin’s price had moved more than $500 in value.
Source: https://cointelegraph.com/news/blackout-cure-needed-btc-price-volatility-challenges-crypto-exchanges
-
2020 has been one of BTC’s most volatile periods, but why do cryptocurrency exchanges keep crashing under high demand?
Things like this have always been normal and this is definitely very difficult to do if we go against the direction because Bitcoin is certainly very independent and does not favor anyone.
I often talk about this because Coinbase and Kraken classmates can't even predict the price of Bitcoin.
Exchange will continue to benefit as long as Bitcoin is around and there is no need to doubt the fluctuations!
-
Many people make different predictions about the bitcoin market. But if they were right then why aren't they investing. They already know the market. Aren't they shooting their money on bitcoin? I don't think any of them know what the market will be like. I think bitcoin is independent. Its price did not fluctuate in anyone's gestures or words. Thank you for posting like this. Many will find out about this.
-
Many users of Coinbase are already complaining of this problem because it happened many times already so Coinbase could not anymore reason that it is just a normal occurrence. One or two can be understandable but beyond that then it can already be so annoying and losses should be shouldered by the company or at least they should be doing something on this problem.
-
If you noticed about it. Most popular platform such as Coinbase, Bitmex or even Binance suddenly go down if the crucial time of the market is happening. I remember Binance went off or acting strange when the Bitcoin Halving event, its like they dont want or planning to set up the market to accumulate profits and leaving the users no choice but to lose. I am not so pessimistic but Bitmex liquidation during that time and the huge drop was dissapointing. Market will not be stable on 10k at least if there are people dont want btc to rise.
-
If you noticed about it. Most popular platform such as Coinbase, Bitmex or even Binance suddenly go down if the crucial time of the market is happening. I remember Binance went off or acting strange when the Bitcoin Halving event, its like they dont want or planning to set up the market to accumulate profits and leaving the users no choice but to lose. I am not so pessimistic but Bitmex liquidation during that time and the huge drop was dissapointing. Market will not be stable on 10k at least if there are people dont want btc to rise.
Disappointing, indeed. In any industry, the many infrastructure around it are all playing good role for its success. The same thing with cryptocurrency. We are all depending on big players to do their parts, otherwise we can have a big problem. I hope these big name companies are realizing that they are doing big disservice to the very industry that is making them good money.
-
It seems that cryptocurrency exchanges do not like big price fluctuations. Also, the cause of failures in their work may be that they can not cope with the increased activity of the auction. Indeed, at this time, every trader is trying to use the opportunity to profit.