22June2017
Bitfinex exchange glitch dramatically reduced Bitcoin price

Bitfinex exchange glitch dramatically reduced Bitcoin price

Bitfinex Bitcoin exchange glitch happened on June 21 dramatically reduced Bitcoin price. Having lost 8% of the cost, the price fell to 661 dollars (as of June 22, 2016).

"We are working on this issue"

Bitfinex explained that this glitch was caused by “infrastructure issues” and “network stability fluctuation”. Later, exchange representatives said that the emergency situation was caused by technical reasons from the provider, which led to other resources suffering. Bitfinex claims that the problem has been found and specialists have been working on it.       

Bitfinex exchange appealed to be careful while transferring significant sums and keep a close eye on the cryptocurrency rate.  

It should be reminded that one Bitcoin price was 750 dollars before the glitch. Along with the price decline, Bitcoin market capitalization also fell to 11 billion dollars.

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