Coinbase crash leaves hundreds of hand traders tied amid Bitcoin crash

For some reason, Coinbase apparently didn't fully respond when Bitcoin plummeted less than two days before its third halving. The leading cryptocurrency dropped $1.500 in under an hour. It's become something of a running joke that Coinbase seems to disappear whenever there's a surge in demand or a sharp drop. Once again, the exchange was unable to stay online during the most recent price collapse, according to social media posts.

The long-awaited Bitcoin halving event is almost upon us, and the markets are responding by dropping the price. Despite the bulls holding well above the $ 9.000 price, they were unable to claim $ 10.000 with any success. With traders on the brink, the downward movement was drastic. Bitcoin is now down 9% for the day and is currently trading around the $ 8.700 price.

Coinbase is not as 'Pro' as they claim to be

Coinbase, the major US-based cryptocurrency exchange, has reportedly gone offline again. Numerous users on Twitter complained about the problem, while data shows that there are more than 1,000 reports around the time of the accident. Many even joked that Coinbase is acting as the NYSE's circuit breakers that stop trading when legacy markets experience a violent crash. 

During outages like these, exchange infrastructure is expected to be reliable. However, Coinbase failed to deliver once again. Many traders encountered an unexpected 502 error when attempting to log into their accounts. They were effectively locked out during the crash. So far, Coinbase has not commented on the cause of the disruption.

Despite being the 'face' of the crypto world to many newcomers, Coinbase continues to have a poor infrastructure. Another outage was reported on April 30 when Bitcoin surged from $ 8,000 to $ 9,470. Coinbase, unsurprisingly, fell during the surge. It's safe to say that the exchange has a history of struggling to meet the demands of its own customers.

As of June 2019, Coinbase's infrastructure was still weak despite listing many altcoins. That summer, the exchange would suffer numerous interruptions. Coinbase was originally criticized for these outages during the 2017 bull run, but it seems sadly not much has changed. We are still struggling with some of the same problems that we had then.

If Coinbase can't handle this most recent drop, it's probably not ready for any new retail investors. In short, your infrastructure seems in need of a major upgrade.