Techcrunch reports Coinbase Suspends Trading Amid Cryptocurrency Rout.

Coinbase, the most popular site for cryptocurrency transactions in the U.S., has suspended all trading activity today amid a crash in cryptocurrency prices.

A statement on the company’s website this morning read, “Due to today’s high traffic, buys and sells may be temporarily offline. We’re working on restoring full availability as soon as possible.”

Senseless Statement

The statement regarding "working on restoring full availability" makes little sense.

What does it take to restore availability? A decline in traffic? You got one. There is zero traffic now.

Bubble Finally Burst?


Did the bubble finally burst? I have no idea, but the true believers are out there wishin' and hopin'.

Despite the plunge, many of the top 16 cryptocurrencies are still up for the week.

Feelin' lucky dude?

Proponents still claim Bitcoin will get to $1,000,000. Their rationale makes as much sense as the myriad of dotcom-bubble justifications we saw in 1999.

Buy the Dip?

Be my guest. Someone, somewhere will always buy the peak of the bubble. Don't worry, this may not be it.

Mike "Mish" Shedlock

Bitcoin Crash Accelerates

The top 26 cryptos are in the red, with the 4 majors down double digits. This week, 9 of the top 11 are down over 20%.

Bitcoin Stable: CBOE Website Crashes

Nobody was quite sure what would happen when the futures markets opened on Sunday night. We now know.

Inflation Expectations Plunge: What, Me Worry?

Fed chair Janet Yellen keeps repeating the mantra “inflation expectations are well anchored”.

Max Keiser Says "Bitcoin is Peer-to-Peer Gold, Fight Me": Challenge Accepted

Max Keiser challenges anyone to dispute his claim that "Bitcoin is Peer to Peer Gold". I accept the challenge.

Boeing Will Suspend 737 Max Production: Thousands of Jobs at Risk

Boeing has over-promised and under-delivered on getting the 737 Max back in service. In Jan, it will suspend production.

Checking in On Rickards' Bitcoin Crash Prediction

In February, Jim Rickards predicted Bitcoin would plunge to $200 on April 17. Let's compare to actual results.

Bitcoin Near Support, Bitcoin Cash Crash: Where to from Here?

Technically speaking, the chart of Bitcoin looks god awful. Each bounce has been feeble compared to the prior decline.

Bitcoin Debate: It's a Bubble! No, It's Not, It Cannot Be a Bubble!

The bitcoin debate goes on and on. Some claim it's a bubble. Others say it isn't. Still others say it can never be a bubble.

Valuing Bitcoin: Millennials Fake Gold or "Something Else Entirely"?

Vitaliy Katsenelson emailed an article about the Bitcoin bubble. Let's compare to the "Something Else Entirely" belief.