The Bitcoin halving rally which we’ve been warning you about (check our article from 1 week ago) is picking up steam. After various financial magazines and television channels drew attention to it, many classic investors also seem to have stepped into the FOMO rally. In the last 24 hours, the most famous cryptocurrency climbed by 17% to $ 9,155 at the time of writing. Coming from a low mid-March around $ 3,000, this means it has tripled in value since the Corona crash.
The famous “it’s over 9,000” meme from Dragonball was quickly trending on all social media channels.
Along with Bitcoin, all other cryptocoins are also doing good business. According to the figures on coinmarket cap, Ethereum rises smoothly above $200 and both Bitcoin Cash and Bitoin SV are up more than 10%. At the time of writing, 98 cryptocurrency out of the top 100 on coinmarketcap went up.
Coinbase, the largest U.S. crypto platform, got so much traffic to handle as Bitcoin soared from $8,000 to $ 9,000 that it dropped out at one point. The funny thing is that one of the last times this happened was in 2017 during the Bitcoin bullrun to $ 20,000. Many social media commentators therefore considered it a good sign.
Still, Coinbase reported over $ 300 million in daily volume on Wednesday afternoon, which was an incredible volume growth compared to the past seven days.
Coinbase tweeted an announcement on its resolution on Wednesday afternoon. The outage “only affected customers’ ability to access the user interfaces of Coinbase and Coinbase Pro and did not affect trading through our APIs or the underlying markets,” said the US company.
The Kraken platform in the US also had problems with its API, but was able to restore it after a short 30-minutes outage.
The U.S. press (Forbes, Fortune, Yahoo) has already paid extensive attention to the rapid rise of Bitcoin since the mid-March corona crash, and if the best-known crypto breaks through the $10,000 again before the halving, global media can also be expected to jump onto the phenomenon as there is a need for good news.