With Bitcoin Price Near To $19K, Poloniex Goes Offline - Report.

With Bitcoin Price Near To $19K, Poloniex Goes Offline - Report.

2020-11-21 | Robin Williams

With Bitcoin Price Near To $19K, Poloniex Goes Offline - Report.

With a new all-time price high in view for Bitcoin [BTC], cryptocurrency exchange Poloniex recently went offline.

“Poloniex is presently unavailable due to an unexpected issue,” the exchange’s user support Twitter page added on Friday. “We are investigating the difficulty and will keep you updated here throughout.”

Bitcoin has yielded exuberant upward price action in recent weeks, also catching growing attention. When traffic becomes dense on exchanges, their systems sometimes go down, locking out traders. This went on with other exchanges within the past also, as well as BitMEX and Coinbase.

“Poloniex is now out of maintenance mode,” Poloniex posted within a follow-up tweet. “Our spot and margin markets are in post-only mode and withdrawals are temporarily unavailable.” A subsequent update stated the return of futures contract trading on the platform.

Moreover, Bitcoin remains painfully on the brink of its all-time price high near $20k. This year has seen a big amount of mainstream financial attention on the asset. Paul Tudor Jones, Jack Dorsey’s Square, and MicroStrategy have all jumped on board, purchasing big positions within the digital coin.

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