Bitcoin Started The Week High But Congestion Caused It To Drop
May 11, 2023
On May 7, 2023, Binance Tweeted the following:
- BTC started this week off falling below 29,500, since then, BTC has continued to drop, now reaching $27,138.
- Over two hundred thousand transactions were waiting to be validated as of 6 p.m. on Thursday
- This was a result of Binance’s congestion issues that forced the exchange to temporarily suspend BTC withdrawals over the weekend.
Overall, there’s not much you can do when something like this happens. The BTC team would just have to upgrade or change the structure of BTC. It becomes a “wait and see” game.
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