Coinbase CEO Says Bitcoin (BTC) and Other Digital Currencies Are In A Correction Phase

crypto-market volatility-bitcoin-fall

On the 8th of September, during the TechCrunch conference, Brian Armstrong – the CEO of Coinbase – talked about the reaction of the firm to the attention digital currencies got in the last quarter of 2017. He also talked about the speedy growth of the company and some of the challenges they have encountered over the years.

The Trend of Bitcoin (BTC) and Other Coins over the Years

Bitcoin (BTC) and other digital currencies experienced a massive increase in their values in December last year. This attracted a lot of institutions from all over the world, and it also resulted in the mainstream media talking about digital currencies on a daily basis.

The Evolution of Coinbase

This was one of the major factors that led to the enormous growth of the digital currency trading platform – Coinbase – which is now seen as one of the largest digital currency trading platforms in terms of registered users. Coinbase also offers several products to its clients. The most prominent products they offer are Coinbase Pro, Coinbase Wallet, Coinbase Custody, Earn.com, and Coinbase Prime.

Bitcoin (BTC) and Other Digital Currencies Are in Their Correction Phases

Brian said that at the moment, the digital currency market is in one of its correction phases. The CEO also talked about the customer service and extreme operational issues faced by the platform. Brian said that at a point, the platform saw about forty thousand new signups in one day. This was accompanied by about 500,000 new sign-ups the following month.

This resulted in the platform encountering some issues with scaling and customer service support team in order to keep all the new users to learn and buy digital currencies.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$0.00-0.15%

Bitcoin (BTC) is currently worth $6,230 after losing about four percent of its value over the past twenty-four hours. Bitcoin (BTC) currently has a market cap of $107.53 billion with a trading volume of $3.85 billion over the past twenty-four hours.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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