Bitcoin

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-sharply-and-tests-exchange-platforms" rel="noopener noreferrer nofollow">Bitcoin Climbs Sharply and Tests Exchange Platforms</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/anticipating-the-institutional-surge-in-crypto-by-2024" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent price surge to a high of $64,000 has led to technical difficulties on major <a href="https://en.bitcoinhaber.net/ftx-initiates-cryptocurrency-holdings-sale-in-bankruptcy-proceedings" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a>. This sharp rise, which approached record levels, triggered overwhelming traffic and led to issues, particularly on Binance and <a href="https://en.bitcoinhaber.net/huobi-token-undergoes-transformation-with-justin-suns-htx-dao-initiative" rel="noopener noreferrer nofollow">Coinbase</a>.</p>
<h2 id="exchange-outages-during-price-volatility">Exchange Outages During Price Volatility</h2>
<p style="text-align: justify">The rapid increase in Bitcoin’s value was followed by a swift decline to $59,000, all within minutes, which correlated with significant problems at Binance and Coinbase, two of the world’s largest cryptocurrency exchanges in terms of volume. Binance users experienced disruptions, particularly on the mobile app, with many reporting inaccessible wallets and incorrect balance displays showing zero.</p>
<p style="text-align: justify">Coinbase also acknowledged difficulties on their platform, informing customers of investigations into zero balance displays and transaction errors. They reassured clients that their assets were secure despite these issues.</p>
<p style="text-align: justify">While Binance seemingly resolved their problems swiftly, Coinbase’s issues persisted, with investors anxiously waiting for updates and resolutions.</p>
<h2 id="bitcoin-s-market-impact-and-price-fluctuations">Bitcoin’s Market Impact and Price Fluctuations</h2>
<p style="text-align: justify">The cryptocurrency started the day below the $60,000 mark but soon spiked to $64,000, a price point last witnessed in November 2021. The spike was short-lived, however, and prices plummeted below $60,000 within a brief period. Following the tumultuous fluctuations, Bitcoin’s price managed a modest recovery to $61,180. The market cap for Bitcoin saw an 8% increase, surpassing the $1.2 trillion mark, while its 24-hour trading volume escalated by 28%, hitting $68 billion.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-climbs-sharply-and-tests-exchange-platforms" rel="noopener noreferrer nofollow">Bitcoin Climbs Sharply and Tests Exchange Platforms</a></h5>

Bitcoin Climbs Sharply and Tests Exchange Platforms

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