Investors Selling Bitcoin and Fleeing Coinbase

The first half of 2018 has been a rough outing for Bitcoin as investors continue to unload the cryptocurrency, sending down prices almost 60 percent year-to-date and now, the latest data shows the outflow of money from cryptocurrency exchange Coinbase exceeded the inflow.

According to an article in Fortune, Coinbase customers withdrew more money than they deposited in April–data extrapolated by Chime, a San Francisco, California start-up that offers free checking accounts. Withdrawals have been on the rise since December, but April marks the first time withdrawals exceeded deposits.

Bitcoin is now trading below the $6,000 mark and could be heading down more with the price falling by 3.42 percent the past 24 hours. It has been trading just slightly below $6,000 the past few hours, but a gradual decline could be on the horizon.

Investors Unloading Bitcoin and Fleeing Coinbase