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Bitfinex Resumes Trading After Unexpected 2hr Outage as Crypto Markets Surge

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Hong Kong-based cryptocurrency exchange Bitfinex notified users in a tweet Saturday, Feb 9th 2019, that it had temporarily gone offline for all users, as crypto markets saw major gains.

Initially, the company wrote that the platform was unavailable only “to some users” and apologised for the inconvenience, without specifying a cause for the outage.

However, about thirty minutes later, Bitfinex clarified that it had gone offline for all of its users, citing a “poor […] choice of wording” as the reason for the misinformation. The full statement reads

We apologise for our previous tweet. In the rush to make users aware of our issue promptly, we were poor in the choice of wording. We can confirm Bitfinex is offline to all users. Please be assured that funds are safe. We will communicate here with further updates.

After remaining inaccessible to users for a little over two hours, the exchange announced it is back up and running with full functionality.

In the most recent tweet from the cryptocurrency exchange, the firm cited issues with “connectivity” as the reason behind the temporary shutdown, stating;

The issue that caused this downtime was attributed to connectivity. […] Your safety is our top priority and we can confirm that all funds were safe during this period.

Bitfinex is currently the world’s 18th largest crypto exchange by adjusted daily trade volumes, according to CoinMarketCap.

Almost all top 100 coins on CoinMarketCap are seeing major growth on the day to press time, with top ten coins up as much as 20 percent.

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4 BITCOIN TRENDS LIKELY TO DOMINATE 2019

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Now is the time when people typically start assessing what the year ahead is likely to bring for various topics and industries. Bitcoin is no different. Investors and enthusiasts will likely notice several Bitcoin trends becoming prominent. Here are four of them to look out for.

1. BITCOIN-COMPATIBLE ATMS BECOME WIDELY AVAILABLE

Reports indicate 2019 will be the year that Bitcoin ATMs take off in cities across the United States. Chicago recently got 30 new machines, bringing the city’s total to nearly 100, with Philadelphia having approximately the same amount.

Those ATMs are solely for dispensing bitcoin, but there are traditional ATMs in New York that give this currency to users. Interested persons create accounts with LibertyX, a bitcoin payment provider. After passing the approval process, they can purchase up to $3,000 worth of bitcoin per day using their debit cards at ATMs.

Bitcoin ATM

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News

Bitfinex Resumes Trading After Unexpected 2hr Outage as Crypto Markets Surge

single-image

Hong Kong-based cryptocurrency exchange Bitfinex notified users in a tweet Saturday, Feb 9th 2019, that it had temporarily gone offline for all users, as crypto markets saw major gains.

Initially, the company wrote that the platform was unavailable only “to some users” and apologised for the inconvenience, without specifying a cause for the outage.

However, about thirty minutes later, Bitfinex clarified that it had gone offline for all of its users, citing a “poor […] choice of wording” as the reason for the misinformation. The full statement reads

We apologise for our previous tweet. In the rush to make users aware of our issue promptly, we were poor in the choice of wording. We can confirm Bitfinex is offline to all users. Please be assured that funds are safe. We will communicate here with further updates.

After remaining inaccessible to users for a little over two hours, the exchange announced it is back up and running with…

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Bitcoin News News

BITCOIN PRICE ANALYSIS – BTC BULLS DRAW THE LINE AT $3.2k

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Bitcoin price Analysis – Bitcoin (BTC) ran hard this week and now appears to be taking a breather and consolidating; or receding to double bottom near $3,200.

BITCOIN PRICE ANALYSIS: MARKET OVERVIEW

What a week! The stock market is closing in on the worst week in a decade. The American government is on the verge of a ‘shut down’ that could extend over the Christmas holidays, Brexit is still happening, Italy can’t manage their debt, and France has been under siege by ‘Yellow Jacket’ protesters for weeks.

Clearly, the world is in a tizzy.

Fortunately, things are looking up for in the world of crypto. Bakkt is on the verge of launching, Bitcoin and Ethereum reclaimed a swath of recently lost territory, and a handful of notable analysts are suddenly feeling quite bullish about crypto’s prospects for 2019.

4 HR CHART

BTC 4HR Bitcoin Chart

As mentioned above, after a decent 30% move…

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Bitcoin News News

Will Bitcoin Reach Another High in 2019?

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Bitcoin was a big disappointment in 2018. For investors on the bullish side of the market that is.

After starting the year near an all-time high, the “people’s currency” entered a bear market, hitting one low after another. And dragging along scores of other cryptocurrencies.

But with prices stabilizing in the last few days, which coincides with Bitcoin’s peak last year, some bulls are encouraged that the bear market may be over.  Reghav Jerath, Founder and CEO of Gath3r, is one of them. “The current market decline is just a phase,” Jerath says.“In its short history Bitcoin has corrected 80-90% many times over. This is just another bump in the road and was overdue.”

bitcoin charts btc

Jerath doesn’t have a price target for Bitcoin, but he thinks it will remain the dominant cryptocurrency.“Bitcoin as a first mover and the underlying technology can solve a lot…

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Ripple & Coinbase : A Complicated Relationship That Could Have an XRP Happy Ending!

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2018 was a difficult year for most of the crypto assets in the market, including XRP. Companies have also been affected by this bear trend. XRP has been during the last years among the top 3 virtual currencies in terms of market capitalization. However, Coinbase, one of the largest and most important crypto platforms available has not listed XRP yet.

Earlier this year, different rumours circulated on the internet and social networks regarding the possibility for Coinbase to list XRP as one of their virtual currencies. By that time, Coinbase had only four assets on its platform: Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH).

Because of these rumours and a crypto market that was growing really fast, XRP was able to reach $3.84, its highest price ever recorded. Nevertheless, the company itself announced that they were not going to list XRP in the short term.

At the same time, XRP and Ripple face more…

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Cardano News News

Cardano Foundation Going to be a Powerhouse in 2019” Says Founder on Releasing Cardano 1.4

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While being down 97 percent from its peak, Cardano (ADA) is currently focused on the development phase as its creator Charles Hoskinson announced December 18 as the date for the release of Cardano 1.4 along with changes in the Foundation council in order to strengthen it.

Development in Bear Market

Cardano (ADA) is one of the highest bearers of losses, having lost more than 97 percent from its all-time high (ATH). In a month only, Cardano (ADA) Price has lost over 55 percent of its value as it currently trades at $0.0279 with 24 hours loss of 4.17 percent while managing the daily trading volume $10 million.

Cardano Price Chart ADA Price Chart
Source : Coinmarketcap

At one side, the price is tanking while on the other side, Cardano development is progressing as its founder Charles Hoskinson announces the launch of latest version of…

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