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Poloniex Records Brief Downtime As Bitcoin Moves Closer To $20K

The price of Bitcoin has been moving the right way as the king coin has been pushing past its previously made records. Poloniex, and Coinbase instead of aiding the growth of the coin, have been making its users miss out on the action. While the crypto community was seen recovering from Coinbase’s recent outrage, it was once again struck by Poloniex’s “unexpected issue.”

Poloniex Goes Offline

Bitcoin surprised an array of people by moving past $18K in the last few days. While several continue to speculate the movement of Bitcoin, Poloniex revealed that it had experienced a problem that was rather unexpected. In a recent tweet, the cryptocurrency exchange announced that it had to go offline. The tweet read,

“Poloniex is currently unavailable due to an unexpected issue. We are investigating the issue and will keep you updated here throughout. Thank you for your patience”

This was further followed by an array of tweets regarding the matter. The exchange asserted that the crypto platform was out of maintenance mode. However, there was a temporary ban on withdrawals and the spot as well as margin markets were in post-only mode. This was re-enabled after a while. The futures contract trading on Poloniex was also enabled once again.

The crypto exchange also figured that certain users had mistakenly received BCH from the exchange. This was also taken note of by the exchange and affirmed that the funds of the users were safe during the course of the maintenance.

Bitcoin Moves Ahead Despite Poloniex Outrage

At the time of writing, Bitcoin was seen trading at $18,669.02 with a 3.29% rise over the last 24-hours. The king coin was garnered profits up to 16% in the last seven days while its market cap was reaching new heights.


In the daily chart of Bitcoin, the key indicators suggested that the king coin was in for an uphill journey. The MACD indicator had prolonged its bullish crossover as the signal line reposed below the MACD line. The Relative Strength Index indicator [RSI] also revealed that BTC was in the overbought zone with its marker way above 70 median.


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