Bitcoin Price Tumbles Nearly 10% as Coinbase Access Disrupted

Bitcoin’s relentless ascension upwards in recent weeks was temporarily stymied today after several issues have cropped up at larger exchanges, including Coinbase, which saw account access temporarily unavailable. At this juncture it is unknown what the issue is and the status has caused a temporarily plunge in price of the cryptocurrency from a peak of $2800.

The London Summit 2017 is coming, get involved!

Bitcoin had managed to summit a price of $2800, officially peaking near $2806, before it started to pare its recent gains, ultimately falling over -9.0 percent to trade at $2230 today. Interface problems are likely the biggest culprit for the retreat in prices, though the scale and scope of account availability cannot be understated.

Coinbase has indeed been intermittently down for the past two days and presently is not available, which is certainly an unwelcome development for investors of the currency. Given an unparalleled amount of Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term in the bitcoin and altcoin market presently unfolding, as well as a rally that up until today has shown no signs of slowing, concerns are unlikely to dissipate anytime soon, especially not until account access is restored on an overall basis.

This is not the first time that bitcoin has ran into such issues, as many investors still remember back in 2008 when Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term issues dictated the currency’s availability. Any prolonged disruption of account services is likely to drive the price of bitcoin lower in a $2.0 billion daily market. Presently, most of the trading activity for bitcoin is relegated to Asia, though with the disruption affecting most large exchanges, this phenomenon could have global ramifications for the bitcoin market.