Coinbase 1st revealed that it was investigating an ongoing issue within which its API and web-site weren’t functioning properly at 1:47 p.m. PDT on its ‘status web-site‘.
As per the daily chart of bitcoin price by ‘CoinMarketCap‘, bitcoin’s price and market capitalization began to plummet around 1:25 p.m. PST, simply just after minutes before Coinbase’s 1st announcement.
By 2:13 p.m. Coinbase reported that it had identified the issue and was implementing the fix. By 2:38 p.m. the issue was resolved.
Today’s crash follows a degraded performance report on 25th June and another crash incident on 24th June, both of that were resolved within an hour of reporting.
The crash comes on the heels of today’s rally within which bitcoin ‘surpassed‘ both of its $12,000 USD and $13,000 USD price benchmarks in an exceedingly matter of hours.
At the reporting time, BTC seems to be recovering slightly from the dip, but is still 1.50% lower for the day, in line with ‘CoinMarketCap‘. Bitcoin is presently trading at a price around ‘$12,442.29 USD‘.