Bitcoin Cash makes waves as it becomes available on Coinbase — and then halts trading

Bitcoin Cash, a fork of the more popular cryptocurrency that was created in August, is now fully supported on Coinbase’s exchange, so you can buy and sell the currency there — just not immediately.

Abbreviated as BCH, the currency showed Cash prices at roughly $8,500, or nearly three times higher than the value it commands on other exchanges (Coinmarketcap has it at $3,381 at the time of writing).

TechCrunch noted that the price surge was likely the result of a glitch, as no other exchange reflected a similar increase in value. Coinbase’s US-based sister exchange GDAX noted that it’s clearing BCH markets until 9AM PST on December 20. As such, Coinbase has halted BCH trading on its platform as well — though sends and receives are still possible.

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The company noted that you should be able to buy and sell BCH again tomorrow, but didn’t say whether it determined what might have caused the hiccup.

Update: GDAX explained that it paused BCH trading owing to high volatility, and that order books will reopen on December 20 at 9AM PST.

 

Author ABHIMANYU GHOSHAL

 

Posted by David Ogden

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