Coinbase has gone offline four times in the last three months during major Bitcoin (BTC) toll moves and furious users unable to admission their portfolios are demanding answers.

On June 1, when Bitcoin rallied from the $9,600s to $10,380 in less than an 60 minutes, Coinbase users trying to access their portfolio were met with a bulletin that the site is "temporarily unavailable."

Error

Source: Coinbase

On May ix, two days prior to the anticipated rewards halving, the price of Bitcoin plummeted virtually $2,000 in under 24 hours, probable due to a massive selloff by whales and other investors. On April 29, BTC rose nearly 12% to attain the $eight,600s. On both occasions, many Coinbase users once once more were unable to merchandise any digital assets.

Alarmingly, this issue wasn't resolved even post-obit the crypto bloodbath in mid-March, when some users of the exchange weren't able to sell off their Bitcoin during the price driblet to the $3,000s.

Coinbase down when it'due south needed about

Many users of the largest cryptocurrency exchange in the The states have reported being unable to trade during these times of peak Bitcoin volatility.

Unfortunately, huge downturns or price surges are ofttimes when traders desire to purchase and sell the most. Losses tin mount when users aren't able to access their accounts to sell their crypto, and potential profits tin merely disappear when they can't buy annihilation.

Merely… why?

Coinbase's status page includes updates on current outages, but cites cipher more than "connectivity bug" for June ane, May 9, and April 29, and "network congestion" on March 12.

In the absence of whatsoever kind of official statement from CEO Brian Armstrong or other representatives of Coinbase, members of Crypto Twitter have been quick to offer their two cents on the exchange going down at crucial trading times.

Twitter user CryptoWhale posted a chart to his 18,000+ followers on June 1 presently after the recent outage, speculating that Coinbase had a built-in algorithm to automatically close it down anytime there was a BTC price movement over $500:

Chart

Source: CryptoWhale

Dan Gambardello from Crypto Uppercase Venture asked just, "How does an exchange with an $8 billion valuation crash every time bitcoin pumps 5%?"

Crypto exchanges, even large ones similar BitMEX, do have bug with user admission during toll swings. Withal, Coinbase seems to be developing a reputation for information technology amongst the crypto customs. The site itself completely crashed in June 2019, causing the price of Bitcoin to fall $1,400.

Cointelegraph has reached out to Coinbase, merely did not receive a response at printing time. Nosotros will update this article if we hear dorsum from them.