Bitfinex, Bittrex & Binance Halt Registrations
New users are flooding onto exchanges and causing infrastructure concerns. Major exchanges are temporarily halting new user registrations. This includes big players like Bitfinex, Bittrex and Binance.
On their website signup page Bitfinex stated “Bitfinex focuses on serving professional traders. The reason we have decided to temporarily stop accepting new accounts is that we cannot undermine the quality of our services for our existing traders by flooding the system with new, small accounts.”
The halt is temporary with reopening slated for January 15 2018 or sooner.
The new account sign up page on Bittrex says “We have received an enormous number of new account registrations over the past few weeks. We are excited to have so many new users who want to join the Bittrex community. Unfortunately, we have to make a few upgrades to our support and backend systems to handle the increased traffic and load. As such, we have halted new user registrations for the time being.”
There is no stated timeline for resumption of registration services.
Due to the overwhelming surge in popularity, Binance will have to temporarily disable new user registrations to allow for an infrastructure upgrade. We apologize for any inconvenience caused.
Thank you for your support!
Again there is no indication of a registration resumption date.
Trading Accounts Become a Valuable Asset
Almost overnight an account on a large cryptocurrency exchange has become of value. With scarcity and demand increasing it won’t be long before we see individuals trade their unused trading accounts for $BTC. This will present another level of complexity for exchange security on crypto exchanges already maxed out on infrastructure.
Cryptocurrency Goes Mainstream
On the surface it appears that crypto has gone mainstream. Major exchanges are experiencing “overwhelming surge in popularity” and “an enormous number of new account registrations” and “flooding the system with new, small accounts”.
Look for this pent up demand to cause some upwards price pressure on crypto when new registrations come back online.
Analysts Predict Uptrend
Knowledgeable crypto analysts have been saying that crypto will be on an uptrend for at least two to three more years. The halt to registrations because of overwhelmed infrastructure is the signal of a pending bullish market about to drive cryptocurrency prices up.
Look for an overall substantial increase in the price of bitcoin and other crypto for the year 2018.