This past week has been marred by a sudden Bitcoin price drop and the subsequent impact on crypto exchanges. Coinbase is currently getting a lot of flack for randomly going offline over the weekend.
It is not uncommon for crypto exchanges to suffer from outages.
Another Random Coinbase Outage is Triggered
Regardless of how or small the company really is, anything can happen in quick succession.
For Coinbase, its most recent outage has created a lot of bad blood with users and crypto enthusiasts alike.
Going offline during an unexpected Bitcoin price drop tends to fuel the bearish pressure on the market.
As such, some people now blame Coinbase for allowing Bitcoin to drop by over 10% in quick succession.
Given how this platform is widely used by newcomers – yet was inaccessible – it is possible that some form of correlation is going on.
However, one also has to keep in mind that there are dozens of reliable exchanges.
Coinbase was the only one that suffered an outage, yet no one knows why this happened.
One can only hope that things improve moving forward, although that seems very unlikely.
These issues have persisted for years now, and have yet to be resolved in an acceptable manner.