OH.MY.GOD !!!! Today was one for the Crypto history books...FOR SURE !!! Things are still being sifted through to figure out what happened today in the flash crash of Ethereum. In a matter of seconds , not MINUTES , SECONDS... ETH crashed to the low print price of $13!! THEN it was revealed that the lowest print came out at 10 cents. 10 FUCKING CENTS!! From $320 to $13 , to 10 cents???
HOW??How in the world could this have happened? So far, it looks like the price has recovered to it previous print of around $300, but trading for ETH has been halted on Coinbase, GDAX, and probably a few other exchanges. What makes this EVEN WORST, is that MANY traders had their stops WIPED OUT COMPLETELY!!! "OH, THE HUMANITY!!!"
Could you imagine?? Having sell order stops at say, $280 not be sold until the price hit 10 FUCKING cents? AND you weren't in om the deal, so you had NO buy orders! IF you are one of the MANY people who got ROYALLY screwed today, you have my sympathies. REALLY, YOU DO!! I always knew there was a reason so many people uttered the phrase "NEVER TRADE ON MARGIN!"
As of right now, word on the web is some LUCKY soul scooped up 1.5 million dollars worth of ETH for less than $500. YEAH ...NOT "DOLL HAIRS... DOLLARS!" All within a few minutes. Until We get some more info on what in the world just happened, it's all pretty much speculating as to what the entire story is. I'm sure we'll be getting more info as the hours pass.
I know there are a FEW people hunched over their toilets right now. 
I'm glad that I never built up the nerve to start dabbling into the trading aspect of this Crypto market. because those are some losses I don't think I could EVER handle.
Stay Tuned for updates!!!
.png)
PLEASE upvote , comment , and follow
it was a "Flash crash" but it rebounded to $296... wild though, wonder what happened? http://www.businessinsider.com/ethereum-price-flash-crash-2017-6
Nice to see it still hovering around $300. Some people on ywitter were even saying their exchange accounts were wiped on Coinbase, but I dont believe it...at least not yet.
Wonder if Coinbase is going to honor those trades, or simply undo them. After all, it's just virtual ETH and virtual fiat while they remain on the exchange.
coinbase shows low of $277. for today.
Its all still pretty unregulated, so who knows. What if coinbase was in on it? Lol. We just won't know for a bit.
That's true! and would be even worse a feeling than never spotting the flash crash in the first place. I'd be gutted if bought on Coinbase and they didn't honour!!!
Was it not just a massive dump? Someone clearly had an enormous amount of eth and dumped it. How this eth came to be i have no idea. Someone is now super rich
Thats what some are saying. Seems like it maybhave been planned? Coinbase has been pulling off some shady crap lately.
TBH I do not think it was planned because selling at such low's cannot be beneficial. Even considering the amount of cash they may make off the guys who trade on margin..poor fella's.. To me it more appears a very early adopter/creator? with a massive amount of eth just cashed in to buy a small Island somewhere. Or a hacker who figured out how to counterfeit eth haha
I'm gutted....I'd have backed the truck up if I'd have known!
This just shows that even cryptos are subject to manipulation....
That absolutely has to be a glitch or it has to have been a planned theft. There is no way that the actually market let that happen.
Oh, it hapoened...on purpose!
The market can't stop someone selling a large amount of shares. Just how large I do not know yet
I wrote about it here if you are curious: https://steemit.com/ethereum/@ccampbell/my-theory-about-what-happened-on-coinbase-gdax-today