Bitcoin skyrocketed for the first time and broke the $40,000 high, the world's largest trading platform was overwhelmed

Recently driven by the U.S. Capitol riots and the full ruling of the Democratic Party, the price of Bitcoin rose again on January 7th.

In 2021, only the first week of the new year, Bitcoin has soared by more than 30%, and in the past 12 months it has soared by about 400%. The rise is quite amazing, and users who hold Bitcoin have made a fortune.

Recently driven by the U.S. Capitol riots and the full ruling of the Democratic Party, Bitcoin prices accelerated again on January 7th. At 2 a.m. Beijing time on January 8th, it broke through the $40,000 barrier for the first time, setting a record high of $40,324.01. , But then retreated to around 38,000 US dollars. But at the moment it broke through the high of $40,000, the surge in trading volume caused one of the world's most widely used digital currency trading platforms Coinbase to be overwhelmed and crashed. And just last December, the Coinbase trading platform, one of the largest cryptocurrency trading platforms in the United States, applied to the Securities and Exchange Commission for listing.

Bitcoin broke $40,000 for the first time at 2 am on the 8th, Beijing time

But this is not the first time that the platform has made a mistake. It is reported that while the price of Bitcoin soared last year, Coinbase was in constant condition. In July and October of last year, the transaction volume surged due to the high rise of Bitcoin, which caused Coinbase to be unable to trade. However, Brian Armstrong, the CEO of the platform, tweeted that the company would increase the capacity of servers and customer service to deal with the huge increase in traffic. However, the company has not issued any statement regarding the crash of Coinbase, only that the incident is still under investigation.

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