Bitcoin Recovers After ‘Flash Crash’ As Cardano Continues Advance

Bitcoin recovered after undergoing a new flash crash yesterday and Cardano leaves Tezos directly behind in the battle for tenth place at Coinmarketcap.

After Bitcoin broke the $ 10,000 dollar mark for the first time in 25 days earlier this week, a cold shower followed a day later with a new small but lightning-fast flash crash.

Just like on May 9, the price of Bitcoin suddenly went down at lightning speed, and the most famous cryptocurrency lost as much as 8% in a matter of minutes, to $ 9,400.

Since then, Bitcoin has steadily climbed back up to $ 9,600 where it is at the time of writing. The weekly chart of Bitcoin shows the spike to $ 10,000 and the fall back afterwards.

Coinbase outage and flash crash

However, crypto traders are already used to the high volatility and so their main concern was the new outage of Coinbase, the largest US trading platform and the second largest worldwide (after Binance).

Several well-known Twitterers reacted sarcastically to the news of yet another outage at Coinbase.

Also on June 1, when Bitcoin rose from $ 9,600 to $ 10,380 in less than an hour, Coinbase users attempting to access their portfolio received a message that the site was “temporarily unavailable.”

Cardano explosive

Cardano, the cryptocurrency of former Ethereum co-developer Charles Hoskinson, was happy a few days ago that it had re-entered the top ten coinmarketcap’s largest cryptos by market capitalization.

Where Tezos fought for that place for two days, Cardano has since continued its explosive growth and already has $ 170 million more capital than Tezos.

CEO Charles Hoskinson stated that the ultimate goal is to do better than Ethereum.


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