Bitcoin Crashes: Crypto Exchanges Are Battling Hard
The course correction and the associated plunge of the prices of almost all crypto currencies naturally also expresses themselves in an extremely high concentration on the websites of the crypto exchanges and marketplaces. These are completely overwhelmed and can not meet the increased demand at the moment. However, this is no reason to get worried.
Looking at Coinmarketcap this morning has almost made you want to close your eyes immediately - so dominant was the color red in the list of the 100 most capitalized coins. At times, except for Ripple, the number 4 in the tableau, only two other crypto currencies in the past 24 hours had a rise behind - one of them was tied to the US dollar currency Tether. The remaining coins had a nearly two-digit minus, many of them shuttling between -20 and -30%.
Of course, the sharp price changes are closely linked to increased activity at crypto trading venues. So, Coinbase,
Anycoin and Co. are experiencing an onslaught that is unlike anything they have ever experienced in a single day. This means for the moment longer waiting times, the end of which is currently not foreseeable, as well as requests that can not be answered at first. Due to network congestion, there are also temporary failures in many places, which means that no action can be taken for an indefinite period of time. First of all, patience must be maintained and the trading platforms given the time they need.
Taking the beginning of December as a starting point, the bottom line is still a big green plus. Experienced crypto investors will also notice that in recent years there have always been situations in which Bitcoin and other crypto currencies have fallen temporarily - only to return stronger thereafter. Because even if it temporarily goes steeply up and just as steeply down: The long-term line goes up.