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Coinbase bitcoin exchange has temporarily disabled the trading

Coinbase is one of the leading currency exchanges headquartered in San Francisco, California is back in action after trading was disabled for more than two hours.

Coinbase stated on its website

Buys and sells have been re-enabled, we are monitoring for stability

Bitcoin Sets Record

Bitcoin has set a record of $19,800 on Sunday and was trading approximately $15,000 on Thursday. But after the massive selloff at the end of the day, Bitcoin plunged 30.2 percent Friday morning to a low of $10,400 on Coinbase. Further, it has recovered 27 percent from the all-time high i.e. above $14,600 by afternoon.

Till then there is no significant explanation for the selloff and extreme instability.

Hence, Coinbase exchange has disabled its trading for more than two hours amid. It has said, that the company consists of 13 million of registered users at the end of the November.

The company said the inconvenience was due to the high traffic. Therefore buying & selling was temporarily disabled.

According to the CryptoCompare

GDAX exchange operates under Coinbase for institutional investors observed about $1 billion in Bitcoin-USD trading volume for the last 1 day. The website revealed, only Bitfinex based in Hong Kong has better trading volume for the currency for nearly $2 billion.

Also Read: Bitcoin is more like dancing up and down

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Kerin

Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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