JUST 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.
- Fed Governor Michelle Bowman Projects Two More Rate Cuts This Year
- Four Meme and BNB Partner on $45M ‘Rebirth Support’ Airdrop, First Batch Set to Begin
- Why Is Crypto Market Down Today (Oct 14)
- BREAKING: Elon Musk Endorses Bitcoin Again After Years Amid Crypto Bloodbath
- BREAKING: Metaplanet Stock Crashes 12% as Enterprise Value Falls Under Bitcoin Holdings
- XRP Price Prediction as Whales Dump 2.23B Tokens — Is $2 the Next Stop?
- Trader Sees a Dogecoin Price Surge as House of Doge Sets for a NASDAQ Listing
- Will Shiba Inu Price Recover After the Crypto Crash As Burn Rate Soars 8,194%?
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
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.
