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Coinbase, the popular cryptocurrency trading platform, faced intense criticism from its users after it experienced a significant outage, coinciding with Bitcoin reaching an unprecedented all-time high of $70,000 on Friday.
Third crash in recent few weeks
This incident marks the third time Coinbase has encountered such issues amidst a surge in Bitcoin’s value over recent weeks.
NEE: Coinbase crashes again.
3rd strike out of 3 price pumps.
Unlike stocks #Bitcoin doesn’t have circuit breakers.
Bitcoin has Coinbase instead. 🤨 pic.twitter.com/mgWfn61c5W
— Radar🚨 (@RadarHits) March 8, 2024
The timing of the crash, occurring as Bitcoin shattered records following a two-year period of anticipation, has left many Coinbase users frustrated and angry.The repeated outages during critical moments of trading activity have raised concerns about the platform’s reliability and capacity to handle spikes in trading volume.
I don’t don’t do price predictions but if bitcoin goes back above 70k I see Coinbase shutting down again.
That’s a prediction I know will happen. pic.twitter.com/s6tsE7Kpon
— Digital Asset News (@NewsAsset) March 8, 2024
The repeated disruptions have sparked a dialogue about the need for enhanced infrastructure and support to accommodate the growing interest and investment in digital currencies.
Do you think Coinbase is trying to
Manipulate the Bitcoin price ?
Last 3 times when Bitcoin have came
close to new all time high, Coinbase
crashed all the 3 times.
— Ash Crypto (@Ashcryptoreal) March 8, 2024
Coinbase has yet to respond to the backlash or provide a detailed explanation for the repeated technical difficulties.More By This Author:Dogecoin Price Forecast: Analyst Predicts Surge To $1 By Mid-April Crisil Predicts India’s GDP To Grow Up To 6.8% In FY25 DAX Index Forecast As The ECB And Fed Delivers Another Catalyst
