the The Bitcoin-to-noise of the last few days has led to massive delays on the Trading platform Binance. After the price of Bitcoin fell asleep first, a steep climb, slumped on Sunday, the 24. February, back below the magic 4,000 to the US Dollar mark. The resultant rush to the trading platforms, apparently, was too much for Binance: The crypto-stock exchange adopted in the meantime and for many users is not reachable.
Selim Baykara
26. February 2019BTC$had 3,818,88 0.53%part Facebook Twitter LinkedIn xing mail
It was a turbulent weekend for Bitcoin. On Saturday, the 23. February 2019, against 18 at the crypto-currency cracked finally the psychologically important 4.000-US-Dollar-brand. Then it went for several hours steadily upward – at times, the rate even rose to almost 4,200 US dollars.
The height of the flight, however, continued not long: On Sunday morning the course broke within half an hour, just as quickly, and fell to 3,800 US dollars. Many investors took the descent, apparently for the occasion, fast sell: The world’s largest trading platform Binance recorded an all-time high in the trading volume and not more came out to process the many requests. The result: massive delays when Trading.
Binance is collapsing: Bitcoin descent leads to massive delays
In a Tweet, Changpeng Zhao, the CEO of Binance, commented on the incidents. Thus, the System would have difficulties to scale during periods of particularly high activity effectively. Therefore, some users have had problems with the user interface. It is working to fix this Problem.
We lakes ATH for trading system load about an hour ago, some users experienced ui delays during system auto scaling. Still improving.
— CZ Binance (@cz_binance) February 24, 2019
We had about an hour ago, an all-time high on our platform. Some users had a UI [User Interface to the user interface] in the case of the Auto-scaling of the system. We are working on a solution.
Is the crypto Winter for Bitcoin, finally over?
the question Remains: what now? On the one hand, the price of Bitcoin and other crypto-put currencies such as Ethereum, Litecoin or XRP for a weekend ride. On the other hand, the volume of trade of crypto-currencies has grown rapidly. It currently stands at about 38 billion US dollars, which is the highest value since April 2018.
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You can take this as an indication that the interest in digital currencies is high and rising. However, it could mean that more Coins are available for sale than there are willing buyers. Sudden price falls as well as not just a good mood among investors and lead to rapid kick movements, before the price drops even further.
Some experts advise, therefore, to keep a cool head and not to rush. The well-known experts DonAlt is that the bear market is not over yet. In the next few months, investors would have to adjust accordingly to sideways movements in the Bitcoin price. Of a bull market, you could speak only if and when the price increases about $ 6,000.
However, there is also evidence that Bitcoin is slowly but surely on the rise: The number of transactions increases, there are more and more Bitcoin Wallets and also over-the-counter trading. If and especially when this leads to rising prices, however, it remains to be seen.
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