What is Bitcoin Cash and where to buy the cryptocurrency?

Chelsea West
December 23, 2017

Coinbase - the largest Bitcoin market in the US - has disabled all buying and selling as the digital currency Bitcoin dramatically loses value.

Update: As of 1:44PM Eastern Time, buying and selling bitcoin on Coinbase has been re-enabled.

On Thursday, Coinbase had temporarily disabled trading at 5:57 p.m. ET, according to its status website.

With that being said, I'm sad to report that it's not just Bitcoin struggling on Friday.

Since January, the price of the most recognizable cryptocurrency in the world has risen from $998 to almost $20,000 earlier this week.

More news: Ryanair Pilots Set Recognition Deadline as Strike Threat Lingers

Shares of Long Island Iced Tea had soared Thursday after the New York-based beverage company announced it would rebrand and refocus on blockchain technology, a digitized ledger of all cryptocurrency transactions.

The crash has been so drastic that Coinbase, one of the leading Bitcoin marketplaces, halted buying and selling of the currency on Friday morning.

It was only a month ago that it was disclosed that Coinbase had more users than stock brokerage Charles Schwab, and for those reasons and many more, it is surprising to realize that this isn't the first issue the exchange has faced in recent months.

Bitcoin cash was created on August 1 when a group of Bitcoin miners announced that they would be "forking" to create a new currency which makes trading faster and easier. By that point, it had declined more than $6,000 from its short-term peak the morning before, having lost more than one-third of its value.

Coinbase has struggled to fully function under high-traffic and volatile moments in the crypto-market. The two countries had dominated trading volume for major cryptocurrencies in the last several months.

Other reports by TheSundaySentinel

Discuss This Article