Claim $500JUST IN: Coinbase Down As Bitcoin Crashes Towards $8,000, Halving Fears?
It has happened again.
The skyrocketing price of Bitcoin (BTC) to $10,000 has been halted less than 48 hours to the halving leading to the collapse in Coinbase servers as an influx of sell orders floated on the platform. This is the second time in less than a fortnight that the exchange is fumbling the bag in processing large market movements.
Bitcoin collapses to $8,100, Coinbase crashes again!
The euphoria that has built up heading into the third halving must be a case of “sell the news” as the price of BTC is collapsing. Currently trading at $8,600, the sharp run towards $10,000 has been stopped in its tracks as the top crypto plummeted by 13% from Saturday’s highs of $9,900.
The dip comes less than 48 hours to BTC’s halving leading to questions on the miner capitulation and what the upcoming halving effects will have on BTC’s price. BTC/USD traded briefly in the $8,100 support levels on Coinbase leading to a crash on the platform as sell orders soared.
Like clockwork… pic.twitter.com/C5xBpQwFBZ
— Mike Dudas (@mdudas) May 10, 2020
Could this be the shakeout before the bull run or a miner capitulation that will push deep into the year post halving? We will keep you updated.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- January Fed Rate Cut Odds Fall to New Lows After Strong U.S. Q3 GDP Report
- Breaking: U.S. GDP Rises To 4.3% In Q3, BTC Price Climbs
- Breaking: Bank of Russia Proposes Allowing Investors to Buy Bitcoin and Crypto in Major Regulatory Shift
- Crypto ETF Issuer 21Shares Advances Dogecoin ETF Bid with Amended S-1 Filing
- Bitcoin Crash Risk Mounts As Peter Brandt Points to 80% Declines in Every Major Cycle
- Solana Price Outlook: Will SOL Recover With Strong Institutional Buying?
- Ethereum Price Risks Crash to $2,500 Amid Sustained Wintermute Dumping
- Is It Time to Sell Bitcoin for Gold- Analyst Spots 2023 Pattern That Triggered BTC’s Last Major Rally
- Bitcoin Price Prediction and Analysis: Will BTC Hit $100k Before Year-End?
- Bitcoin Price Prediction As Michael Saylor Pauses BTC Purchase- Is A Fall to $74k Imminent?
- Aster launched Phase 5 Buyback Program Allocating 80% Fees. Will ASTER Price Rally?
