The broader cryptocurrency market corrected significantly over the past few hours after yesterday’s bloodbath in response to Russia’s invasion of Ukraine. Bitcoin managed to recover around $4,000 of its value, but it appears that the popular retail trading platform Robinhood is facing some challenges in this regard.
- The price of bitcoin dropped to $35K on popular retail trading platform Robinhood, as several people revealed on Twitter today.
running with wtf #bitcoin on Robinhood? I pic.twitter.com/ELYmG3PyBm
— nebraskungooner (@nebraskangooner) February 25, 2022
- This came as a surprise to many, as at the same time, BTC was trading above $38K on all cryptocurrency exchanges, drawing a gap of around 10%. Some began to consider arbitrage opportunities as well, but the discrepancy was quickly resolved.
- Robinhood’s official support account on Twitter revealed The issue was simply an “incorrect display value” and it lasted for about an hour:
The Robinhood app experienced a temporary issue that caused an incorrect display price for the crypto for one hour at 6:50 a.m. PT. The issue is resolved now. Some customers may have market orders not filled due to this display issue. We apologize for any inconvenience caused.
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