Ah man, those levels brought back crazy memories of what it was like trading during the GFC. It was truly pandemonium!
Financial markets are simply a representation of human emotion and when panic sets in, there is nothing that can done. Stock markets have 'kill switch' triggers but decentralised markets like currencies don't and there's nothing to stop the panic selling from coming and coming, and coming some more!
Check out this video from the stock market crash in 2010:
Listen to the bloke's voice. That is perfectly reflected in the price and why it just didn't stop.
Ah man, those levels brought back crazy memories of what it was like trading during the GFC. It was truly pandemonium!
Financial markets are simply a representation of human emotion and when panic sets in, there is nothing that can done. Stock markets have 'kill switch' triggers but decentralised markets like currencies don't and there's nothing to stop the panic selling from coming and coming, and coming some more!
Check out this video from the stock market crash in 2010:
Listen to the bloke's voice. That is perfectly reflected in the price and why it just didn't stop.
Unreal!