Bitcoin Forum

All major exchanges  coinbase, bitstamp, kraken down all at same time!  BITCOIN price is going down as well...  what is really going on?

Any government intervention or so???

I guess the correction has begun. Better swap bitcoin for a rising altcoin

Kraken is somewhat OK, from every 3 clicks it accepts 1 so not as bad as it would be down...
There is / was a correction (according to Kraken the minimum of the price was $9,000.20 and now it's $9,888 again so the price is searching for it's true direction...
As I'm not a trader I just can't predict anything about the direction, but you can be sure that this volatility is not because of goverments, so just enjoy the ride :)

Thanks for assuring  8)  but all 3 exchanges were down at same time for almost an hour which really looked suspicious to me...

Was it really the mass traffic of traders all trying to exit through the same doors that caused the exchanges to become slow or is something else happening? It wasn't only the exchanges, other Bitcoin related sites were also hard to reach since yesterday. Like this forum.

Mania and volume.

 Exchanges have come along way, but they still aren't as robust as actual trade systems like the NYSE.

We've seen explosive growth (earlier today Coinbase was reporting 7x the traffic compared to their previous all time high), and now there was a bit of a dip.

The moment there is a dip during a mania period you get the market equivalent to a run on the banks (https://en.wikipedia.org/wiki/Bank_run). People rush to sell/get money out and cause the exchange to be overloaded.

When an exchange is overloaded, more people freak out and try to sell.

Meanwhile, algorithm traders are automatically reacting to the markets and people's "Stop Loss" sales are triggering causing the price to drop down further.

All in all this results in a drawback/correction, but, sometimes you see a larger 'crash.'

The Bitcoin frenzy is happening, the Exchanges are bombarded with new users.

I believe a lot of traders are trying to book their profit and exit from the position they had taken. That's the reason why some exchanges are facing increased server load. Coinbase is going through a maintenance. Kraken is somewhat running. With the falling bitcoin price, these kind of load was expected but at the same time coinbase decided to do the maintenance activity. I see no reason to worry just as yet. Give it some more time and every should be back on track.

The general assumption is that there was a huge level of traffic and the sites couldn't handle it, surprisingly bitcoin price wasn't hurt too bad from it. There could also have been some DDOS attempts going on we don't know.

This is a normal behavior for bitcoin. You shouldn't be too worried if you're a long term holder. Price rise was way too steep in the past few days so the correction was expected sooner or later. But usually after the dips price goes up again. So long term you're gaining just be patient.

Usualy when there is some crazy BTC movements, these exchanges will be down. So factor this in for when BTC reaches it ATH!

As others said. Normal behavior for exchanges to slow down during high volumes of market activity. They did this all the time when ETH was running, and Bitcoin is much bigger.

Maybe some issues ? Or maybe some new implements ? Or maybe a ddos coordonate attack ? or maybe correction is happening ? or maybe and maybe. There could be so many posibilities. Better not keep your bitcoins on exhanges tho...it's safer on blockchain or cold wallets.

I experienced this first hand not on GDAX but Coinbase.  I did not even know about GDAX at the time. I saw the price drop 25% in a hour. Managed to log in then the site went down.  Just another reminder of limitations crypto platforms currently have, even unicorns.

the day bitcoin reaches five figures, interest has been exploding for months, the price moves thousands in one 24 hour period, and people are blaming government hacks?

don't be ridiculous. it was good old fomo and unprecedented demand for capacity. accommodating this level of interest is gonna be on a whole new level.

Obviously, it's normal thing due to the recent spike in the prices. Whenever people notice the price is going down, massive access to exchanges will occur and you may find it hard to access the network. Some countries have regulated cryptocurrency or exchanges, and governments won't intervene the exchanges as long as there is no illegal activity. If you are a trader, it's time to sell as bitcoin price seems will be corrected again. But, if you are not interested in such things, just hold your bitcoin and wait until bitcoin reach a higher price.

Bitcoin has gained so much value in a short time, the price increase over $1000 within 24 hours which cause people aware of volatility. Bitcoin price seems to fluctuate a lot these days, but there is no doubt about bitcoin will reach another ATH over time.

All the people wanting to move their bitcoins from here to there, from small amount to big amount, wallet to wallet, would cause alot of traffic more than the usual traffic of these exchanges. only normal especially if there are more users trying to move their bitcoins.

Bitcoin price has now reached $9,750.I think its due to a correction in price.I read that some body mistakenly sold off his huge volume of bitcoins for just $10 each.That might be a spark for price fall and newbies would have got panic as usual as they do on seeing price fall and would have started to sell continuusly.That might be a reason.

If thats true, condolences to that guy. Selling bitcoin at $10 when it is actually traded at 10K must hurt badly. But thats the thing with controlling your money, you and solely you are responsible for your actions. About the exchanges issue: I didnt encounter any issues today using kraken.

Coinbase said the number of users online was 8 times higher than the peak during the June/July madness. Can you imagine how many people this is? Crypto is growing exponentially in adoption and investment... We're in for a crazy in 2018 my friends!

8 times! That explains the slow websites. I couldn't get on BitcoinTicker, this forum went down several times, if you could connect at all. Now it's just a peak, but how are we going to handle the traffic when it's like that permanently? 

Last day I experience network failure in blockchain it took almost 3 hours before I had successfuly transfer some of my fund to another wallet then while ago this forum was unable to open and says network busy or network failure that's why I failed to do my signature campaigns. I am worried especially that the price drops now I thinks something wrong is happening with bitcoin same as the market of all cryptos.

8 times is really quite astounding but it's also worrying as you said that the exchanges can't handle it, that level of traffic will one day be the normal daily traffic and so exchanges etc will have to find a way to improve so that they can handle that level of traffic and even much higher. If they do not it will only lead to more issues and spread FUD throughout the market and put off new investors.

Bitcoin is going up and there is a lot of people trying to purchase coins that they received when they cashed their altcoins out. That is why the price is not stable.

I was quite worried about the issue, But now it seems everything else will be okay. You can notice that market is going to be normal again!