Bitcoin price dropped to $1,400 shortly after a crash Coinbase crypto exchange.
According to the daily chart of bitcoin price on Coin360, bitcoin’s price and market cap began to plummet around 1:25 p.m. PST, just minutes before Coinbase’s first announcement.
At press time, bitcoin seems to be recovering slightly from the dip, up 0.71% in the past hour and still up 9.48% on the day, according to data from CoinMarketCap. Bitcoin is currently trading at $12,690.
As a reminder, Coinbase first reported that it was investigating an issue in which its API and website were not functioning properly at 1:47 p.m.