What is Bitcoin Cash and where to buy the cryptocurrency?

Posted December 23, 2017

The announcement comes in the midst of a price slump for Bitcoin and other cryptocurrencies, and it's not yet clear when Coinbase will open back up again.

Coinbase announced the news on its site Friday morning.

Buys and sells on Coinbase, the largest cryptocurrency exchange in the United States, were disabled for a little over two hours Friday amid a massive cryptocurrency sell-off. "We are working on a fix and apologize for any inconvenience".

The value of Bitcoin, the world's largest cryptocurrency, has fallen over -15 percent today, down nearly 30 percent from its record high of almost $20,000 reached earlier in the week.

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In the last several days, many Reddit and Twitter users have also complained they are unable to complete transactions smoothly on Coinbase.

Adding to the confusion, Coinbase said a little after 11 a.m. Coinbase says it is "monitoring for stability". Long Island Iced Tea (LTEA) sank 18%, after popping 183% Thursday on news it was getting into blockchain and changing its name to Long Blockchain.

Coinbase, one of the larger markets for buying and selling bitcoin, announced that all buying and selling has been temporarily disabled.

Bitcoin tumbled more than 25% to below $12,000 Friday, after topping $20,000 on Sunday, to cap off the worst week for the cryptocurrency since 2013, amid a flurry of warnings from central banks and an insider trading probe at a key exchange. The company said in a blog post it disabled trading because of "significant volatility". "If we find evidence of any employee or contractor violating our policies - directly or indirectly - I will not hesitate to terminate the employee immediately and take appropriate legal action".