Bitcoin surges, exchanges run hot, and Coinbase glitches—lather, rinse, repeat. Following widespread reports that Coinbase users were logging in to see zero balances in their wallets, CEO Brian Armstrong said Wednesday afternoon that the problem had been fixed.

Coinbase’s history of going down during surges in traffic prompted crypto Twitter another opportunity to poke fun at the exchange, designating the familiar technical difficulties as a positive market indicator.

“Coinbase app is down,” Reflexivity Research co-founder Will Clemente wrote on Twitter. “We are SO back.”

Cryptocurrency exchanges often experience outages during Bitcoin rallies, which bring massive surges in user traffic and trading activity along with intense unpredictability in Bitcoin’s price.

“We had modeled a ~10x surge in traffic and load tested it,” Armstrong said on Twitter. “This exceeded that number.

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Author: Jason Nelson

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