Exchanges going down is the circuit breaker of cryptos.
Coinbase outages
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Re: Coinbase outages
#12Definitely worth 2x Nasdaq!
Re: Coinbase outages
#13According to Binance, Bitcoin just went down from $42k to $30k in 2 hours. Elon Musk selling his cryptocurrencies??
Re: Coinbase outages
#14It's quite concerning given the amount of people who will be trying to sell right now. Even a short period of being locked out of trading could cost people thousands of dollars. I'm sure they're protected in their terms of use but I wouldn't use an exchange that can't keep live with high volumes.
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Re: Coinbase outages
#15Well yeah, we’re in the middle of the dump phase of pump and dump in an unregulated marketplace.
Re: Coinbase outages
#16I wonder how much the volatility of cryptocurrency is influenced by the stability of exchanges. Does it make the price more stable by artificially restricting trading, or does it ultimately induce more panic?
I'd venture to say directly -- current lvl2 data shows about 1-10% of previous order depth available.
Which also asks the next question, how much of the price action and volume is automated trading in these platforms?
Not that automated is necessarily good or bad - but how much is a retail interest
Re: Coinbase outages
#17I wonder how much the volatility of cryptocurrency is influenced by the stability of exchanges. Does it make the price more stable by artificially restricting trading, or does it ultimately induce more panic?
wow what's going on with all the crypto prices today?
Re: Coinbase outages
#18[deleted]
Re: Coinbase outages
#19[deleted]
Re: Coinbase outages
#20Watching the absolute freefall of the crypto market on coinmarketcap is rather entertaining. Glad I cashed out ~10 days ago, even if I missed out on some gains.