How did the temporary suspension of Coinbase on July 31, 2017, impact the availability and price of cryptocurrencies?

3 answers

• Kjeldsen SteensenMar 31, 2021 · 4 years ago
  The temporary suspension of Coinbase on July 31, 2017, had a significant impact on the availability and price of cryptocurrencies. With Coinbase being one of the largest and most popular cryptocurrency exchanges at the time, the suspension caused a disruption in the trading of cryptocurrencies. This led to a decrease in liquidity and availability of cryptocurrencies on the market, resulting in a temporary increase in prices due to limited supply. Traders and investors faced difficulties in buying or selling cryptocurrencies during this period, which caused a sense of panic and uncertainty in the market. As a result, the temporary suspension of Coinbase had a short-term effect on the availability and price of cryptocurrencies.
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• Jesus RicarteMay 09, 2022 · 3 years ago
  The temporary suspension of Coinbase on July 31, 2017, was a major setback for the cryptocurrency market. Coinbase was a trusted platform for many traders and investors, and its suspension created a sense of distrust and uncertainty. This led to a decrease in trading volumes and liquidity, which in turn impacted the availability and price of cryptocurrencies. The limited supply of cryptocurrencies during this period caused prices to surge temporarily, as demand outweighed supply. However, once Coinbase resumed its operations, the market stabilized and prices returned to normal levels. It is important to note that the impact of the suspension was temporary and the market quickly recovered from this incident.
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• Denise SchleierNov 28, 2021 · 4 years ago
  The temporary suspension of Coinbase on July 31, 2017, had a ripple effect on the availability and price of cryptocurrencies. As Coinbase was one of the leading cryptocurrency exchanges, its suspension caused a disruption in the market. Traders and investors who relied on Coinbase for their transactions were unable to access their accounts or trade cryptocurrencies, leading to a decrease in liquidity and availability. This scarcity of cryptocurrencies resulted in a temporary increase in prices, as demand remained high while supply was limited. However, other exchanges stepped in to fill the gap, offering alternative trading options and helping to stabilize the market. Overall, the temporary suspension of Coinbase had a short-term impact on the availability and price of cryptocurrencies, but the market quickly adapted and recovered.
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