Some part of the cryptocurrency trading community might have thought that $10,000 per coin is the absolute maximum Bitcoin can ever reach, and thus sold their Bitcoins lately, leading to a massive drop of the cryptocurrency price. Digital exchanges and services were not ready for such changes, and this is why the biggest and quite respected sites — Coinbase, Gemini, Bitstamp and others — stopped their work somewhere around 21:40 UTC.
In the case with Coinbase, for example, people could not enter their accounts, but the site itself worked and the team posted a link on a log that was often updated with assurances that the problem is going to be fixed soon. And in line with the...Read more BTC
In the case with Coinbase, for example, people could not enter their accounts, but the site itself worked and the team posted a link on a log that was often updated with assurances that the problem is going to be fixed soon. And in line with the...Read more BTC
This is what they call the 'psychological barrier'. I must say there are a number who really thought the $10,000 price of Bitcoin is the cap for the year 2017. Hence, traders sold their Bitcoins at such value (with a little profit perhaps) or withdrew their Bitcoins to convert it to fiat currency. What these people did not expect is that Bitcoin even reached $11,000+++. So the people who sold theirs at $10,000 lost as against those who bought the same for 10 - 30% profit on top of the selling price. This situation is telling us to keep holding onto it until all prices drops.