Bitcoin surges past $15000 because why not

Bitcoin surges past $15000 because why not

In a blog post on his site, Coinbase CEO Brian Armstrong sought to "remind customers of some of the risks associated with trading digital currency" - which include wild price swings.

Coinbase said its site was down for some users because of record-high traffic.

Bitcoin crossed the $15,000 mark today just 10 hours after topping $14,000. As the digital currency skyrockets, many of us ponder upon what is happening and how it is possible for something that was worth $100 back in 2011, to multiply its value by 170 times for 6 years.

The company, which is the largest platform for buying and selling cryptocurrencies in the USA, has experienced a number of outages as the price of bitcoin has skyrocketed to new highs.

For those who were able to trade during the period of performance issues, Coinbase may have overcharged. Coinbase is one of the major cryptocurrency exchanges accounting for a third of bitcoin trading volume. "But of course it is worth it since its web site is usually down and you can not reach tech support".

Armstrong warned in his post on Thursday that the increased interest in cryptocurrencies, which was punctuated by a stunning bitcoin rally earlier this week, has led to "extreme volatility and stress on our systems".

Coinbase isn't the only cryptocurrency to have collapsed under pressure at the last minute. "We're glad to have expanded to the USA at this time with so much interest due to the impending Bitcoin futures launches", bitFlyer COO Bartek Ringwelski, said in an email.

International Business Times reached out to Coinbase regarding the price difference but did not receive a response at the time of publication. What this new bitcoin product means is that its legitimacy is confirmed. What that meant was that the rate got magnified by over 20% in the course of a single day.

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