Bitcoin Back Above $18,000 After Coinbase and GDAX Crash


The price of Bitcoin (BTC) has now reached over $18,000, consistently.

Source: CoinMarketCap

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At press time, Bitcoin is at $18,239.10 – just below its record of $18,465 reached at 8:28 AM PST as per CoinBase. The Bitcoin-U.S. dollar (BTC/USD) exchange rate has increased in value by 26.49 percent in just 24 hours, as per CoinMarketCap. As you can see from the chart below, CoinBase’s system suffered a major blow and was taken offline by record-breaking traffic flooding the system.

Source: CoinBase

Some users have been in the news stating that they say Bitcoin at around the time of the crash reached the $19,000 mark but due to the technical difficulties of the site, it is not recorded on the chart. Coinbase’s partner exchange GDAX, also went down simultaneously. It only took two hours for the developers to get the website up and running, much faster than the last time around. Bitcoin’s price shot up so quickly, most price trackers weren’t even able to track it’s price accurately.

Source: CoinMarketCap

As you can tell from the chart above, CoinMarketCap only shows that BTC’s price reached a peak of $16,923, almost a $1,500 difference between charts. As the CBOE futures are only days away, Bitcoin’s price will continue to climb but can the exchanges keep up?

Featured Image: twitter

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