Regulated cryptocurrency exchange Coinbase suffered a brief outage which coincided with a sharp drop in the Bitcoin price by around $1400 in just 15 minutes. The issue primarily occurred with tis website and APIs on June 26, 2019.
According to CoinTelegraph, the price of Bitcoin began falling just minutes before Coinbase’s first announcement about the crash. Coinbase resolved the issue in about an hour’s time.
The crash spoilt the party for cryptocurrency traders who were betting for Bitcoin to hit the $14,000 mark after it touched $13,900 before dropping below $12,000. At the time of writing, Bitcoin was trading at $12,879.
(Image Credit: Coinbase Screenshot)