Coinbase hit by tech trouble as bitcoin breaks $20,000 for first time

The full version of the article, along with thousands like it, can be found on the following page: Coinbase hit by tech trouble as bitcoin breaks $20,000 for first time

Bitcoin

Major cryptocurrency exchange Coinbase has said its own retail and professional-focused platforms have been hit by link issues and network congestion, as bitcoin crushed by $20,000 to its highest level ever.

Network congestion was also delaying the sending of ethereum - the second biggest cryptocurrency after bitcoin, and relevant tokens, it said. Its Coinbase Pro system was also hit by the network congestion problems, it said.

Bitcoin earlier jumped to $20,800, its highest ever, amid increased corporate and institutional interest. It has gained more than 170 percent this year as investors seek it because of its supposed immunity to inflation.

Ethereum, which often moves in tandem with bitcoin, also jumped more than 6%.

Last month Coinbase was hit by technology issues during a sharp correction for bitcoin, with users reporting difficulty trading.

The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Tom Wilson. Editing by Iain Withers.

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