BitcoinBitcoin and Ethereum Just Crashed, Taking Coinbase Down With ThemJen WiecznerAfter both hit all-time highs earlier this week, Bitcoin and Ethereum prices plummeted as much as 25% Thursday — but many investors were unable to trade for much of the selloff.Coinbase, a leading cryptocurrency exchange, confirmed that it was completely offline by 9:35 a.m., though the outage appears to have begun several hours earlier, with investors reporting problems on Twitter throughout the night.The company blamed "sustained heavy traffic," likely caused by intense Bitcoin and Ethereum trading, for crashing the Coinbase website and mobile app, which remained completely down for at least four hours.As has become a familiar frustration to blockchain enthusiasts in recent days, Coinbase went offline at the worst possible time, just as extreme price swings in the cryptocurrencies made investors desperate to buy or sell.Around 10 a.m.Thursday, the Bitcoin price fell as low as $2079, a more than 30% drop since breaking the $3,000 milestone last weekend (and a 19% decline in the previous 24 hours alone).Relatedhealthcare billWhy the Senate Healthcare Plan Looks Like Obamacare 2.0healthcare billWhy the Senate Healthcare Plan Looks Like Obamacare 2.0At the same time, Ethereum, a rival cryptocurrency whose eye-popping 40-fold gain this year has far outpaced Bitcoin's returns, was down as much as 25% from its price a day earlier.

The Ethereum price dipped below $274, just three days after it traded above $400 for the first time.Coinbase had a similar outage in late May while Bitcoin was trading at record highs, illustrating that new systems for trading blockchain currencies are not yet as reliable as traditional stock market exchanges — a lesson a number of investors were learning the hard way, based on their tweets.(While Coinbase initially said it had restored full access to the exchange by mid-afternoon Thursday, it was still trying to repair service for at least some users after 5 p.m., according to a status report on its website.)$BTC is down.$ETH is down.@Coinbase is down.--All the feels.//4tERCTPHLi- MONETARY MAYHEM™ (@MONETARY_MAYHEM) June 15, 2017Does anyone have a reliable alternative to #Coinbase?It seems to be down at every critical moment- Jeffrey Schmidt (@JeffSchmidt9) June 15, 2017Bearish comments by influential investors have triggered several recent selloffs in Bitcoin and Ethereum, such as when Mark Cuban said he thought they were "in a bubble" last week.

Morgan Stanley likely contributed to this week's declines by publishing a couple of research notes casting doubt on whether the surge in cryptocurrency prices is justified."Market likely getting ahead of itself as we have not seen exponential rise in use case yet, but value is rising exponentially," Morgan Stanley analysts wrote in a note Wednesday.That followed an even more skeptical research report the bank released a day earlier titled "Blockchain: Unchained?""The rapid appreciation of Bitcoin and others is somewhat surprising in light of some developments that seemingly would have put downward pressure on the currency," another group of Morgan Stanley analysts wrote, citing the SEC's rejection of a Bitcoin ETF, among other factors."Their values are too volatile and too hard to actually use for payment for most to consider them currencies," they added.The cryptocurrencies’ prices bounced back later in the day.As of 6 p.m.Thursday, Bitcoin was down less than 3% and Ethereum was down just under 8% over a 24-hour period.

Bitcoin and the top altcoins have reached new all-time highs as Ethereum and Ripple both climbed 20 percent.bitcoin is a penny stock"The broad uptick in the top 10 cryptocurrency table began on Thursday with multiple altcoins seeing sudden gains.bitcoin encrypt walletDash, Monero and Golem also posted double-figure growth for the 24 hours to press time on Friday."bitcoin x64Bitcoin’s growth was comparatively modest at just under two percent, but Coinbase nonetheless managed to post a new record price high of just over $1,350.japan vps bitcoinAn interesting exception to the trend came in the form of Litecoin, which had previously exploded in value upon news that Segregated Witness technology would activate.bitcoin a ponzi scheme

As the rest grew, Litecoin remained stagnant, even posting a modest loss of around 0.8 percent overall.litecoin worth"The Ethereum ecosystem, meanwhile, is capitalizing on the launch of another major economic tool which should help bring it to new audiences."ganar bitcoin gratis jugandoThe Ethereum Classic Fund, run by Barry Silbert’s Digital Currency Group, officially went live this week, causing a predictable surge in the price of the Ethereum Classic token (ETC).ethereal focus bladeEther itself (ETH) appeared to profit from a knock-on effect, with its own dedicated exchange-traded fund (ETF) currently under consideration by the US Securities and Exchange Commission.bitcoins kaufen von privat

Both versions are currently at all-time price highs.Lesser announcements came from the Ripple camp this week, with another 10 financial institutions signing up to its gateway.The network already counts members such as JPMorgan Chase and BNP Paribas, the former also signaling this week it had pulled out of so-called distributed ledger group R3 Consortium.Username * First Name Last Name Email * Password * Repeat Password * You registration completed successfully.Confirmation email sent to email address provided.Email * Password *EthereumTraders Get Burned In Ethereum Flash CrashJeff John RobertsThe white hot cryptocurrency Ethereum went on a wild ride on Wednesday, plummeting from around $320 to around 10 cents in a so-called "flash crash."The price soon recovered but not before some investors took a terrible bath and some others made out like bandits.Ethereum, a popular new digital currency, trades on exchanges much like its older rival bitcoin.

The most widely-used exchange, Coinbase-owned GDAX, operates like a traditional stock exchange, and lets traders buy stock on margin and place so-called "stop loss" orders—an automated instruction to sell if the price falls below a certain point.As Adam White, the VP of GDAX, explained in a blog post, one investor placed a multi-million dollar Ethereum "sell" order at 12:30 p.m.The size of the order caused the price of the currency, which is already volatile, to dip.Things started to go really haywire, however, as the price dip triggered a series of stop loss orders."Thisslippage started a cascade of approximately 800 stop loss orders and margin funding liquidations, causing ETH to temporarily trade as low as $0.10," White explained.voice assistantsGoogle Home Outsmarts Amazon Alexa in 3,000 Question QuizBitcoinBitcoin and Ethereum Just Crashed, Taking Coinbase Down With ThemEthereumThis Cryptocurrency Hit a Record High—And It’s Not BitcoinBitcoinBitcoin Breaks $3,000, Continuing Epic Bull RunBlockchainSpeculators Are Driving a Cryptocoin BubbleBitcoinStartup Raises $35 Million in 30 Seconds With Crypto-Currency OfferingBitcoinBitcoin Fans Say Cryptocurrency Tokens Are the Future of Tech FundingBitcoinWhy Bitcoin Just Dropped 30%In other words, the computers executing the stop loss orders began to sell at all costs and, so long as there was someone on the other side to match the order, the trade went through—even if the price was totally irrational, and driven only by an algorithmic frenzy.Get Data Sheet, Fortune’s technology newsletterThis is hardly the first time such a thing has happened, of course.

/DOGTnCnX2Q- Alex Melen (@amelen) June 22, 2017This is terrible news for those who sold Ethereum while the price was falling through the floor.It would be like seeing a computer sell of your Apple shares for $1 and not being able to do anything about it.Meanwhile, those who had put out "buy" orders to buy Ethereum if the price fell super-low would have made a killing.Some seasoned traders on discussion forums like Hacker News basically shrugged at the news, and said such events are not uncommon in foreign exchange trading, and that those who placed the stop-loss orders should have known better.Others noted this just how markets work, and praised GDAX for how they handled it:A trade is a trade...Large sell fills the bids, triggers the S/L orders and then some!All is in 'order' folks.https://t.co/4iYfV7JV5D- Nigel Quantick (@nigelquantick) June 22, 2017So some1 placed a massive sell.The day after, it appears that @gdax handled everything extremely well.https://t.co/26cJxu4DjO- RogomonZ (@rogomonz) June 22, 2017Others, however, are grumbling and calling for a class action suit against Coinbase.