Bitcoin Price Slumps Following Bitfinex Outage
The price of bitcoin slumped again today after Bitfinex closed its order book, citing issues with its post-trade processing. The Hong Kong-based exchange, which witnessed a 'flash crash' just last week, halted trading for a seven-hour period this morning. The Bitfinex price promptly fell a further 3.8% when it reopened at 12:31pm UTC. In a statement on Reddit, Zane Tackett, Bitfinex's director of community and product development, said: "Earlier today, at 5:27 UTC, we encountered an issue with post-trade processing, upon which we decided to halt trading to ensure consistency in the order....
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Some unfortunate news is in the bitcoin books. Following an outage of global digital currency exchange Bitfinex, everybody’s favorite coin has undergone quite a plunge, and is hovering around $671 USD at press time, a drop of nearly $100 in the last 48 hours. Bitcoin Price Plunges Following Bitfinex Outage. As Bitcoinist.net recently wrote: “The Bitcoin price has taken a tumble today with the Bitfinex trading outage, starting around 5 PM Eastern Time, and continuing into the night… Bitfinex is citing “server migration issues” as the source of the outage delaying their projected re-launch....
Bitfinex, while still listed on its website as being in the "beta-phase," is the largest USD based bitcoin exchange. Bitfinex is currently experiencing an outage, as they have acknowledged on twitter. Beyond tweets acknowledging the existence of an issue, Bitfinex has not yet released any information concerning the current service interruption. This latest outage follows an outage just four days ago on July 6th. Few details have been released about that outage, though it was addressed quickly. In late may of this year, Bitfinex' hot wallet was hacked to the tune of $5,400,000. No customer....
The Bitcoin price has taken a tumble today with the Bitfinex trading outage, starting around 5 PM Eastern Time, and continuing into the night. This news follows scheduled maintenance on th 17th. Bitfinex is citing “server migration issues” as the source of the outage delaying their projected re-launch time several times while attempting to fix the problem, allowing bursts of cancellation requests through as they worked. The outage coincides with as much as a 9% drop from the $740 USD level down to $685 at it’s lowest point. Bitfinex has since come back online, and prices and volume are....
On June 20, the Bitcoin world came to a halt for some traders — twice in 24 hours, in fact — when popular Hong Kong exchange Bitfinex, owned and operated by iFinex Inc. (Bvi), unexpectedly went offline, preventing trading at the exchange for several hours. Bitfinex Outages Raise Important Questions. Industry-related media reported because of news regarding the outage rippling throughout the trading community, it sparked a temporary sell-off that ultimately contributed to bitcoin’s fall from the US $740 range to $685 at its lowest point. When Bitfinex went offline the first time, which was....
The price of bitcoin fell below $700 on 21st June, dropping more than 10% in an aggressive correction to recent gains. The decline came just a day after the price surpassed $780, rising to a fresh 28-month high, CoinDesk USD Bitcoin Price Index (BPI) figures reveal. But while this could be viewed as a positive for the digital currency, investors didn't quite see it the same way. The currency appeared "slightly overbought" after reaching the “high 700s,” according to Arthur Hayes, co-founder and CEO of bitcoin leverage trading platform BitMEX. To some market observers, the trading....