Ethereum is crashing by 20% right now after confidence in bitcoin rival shaken
Bitcoin rival ethereum plunged Monday despite a major exchange's efforts to shore up confidence by announcing a credit for customers who lost money during last week's flash crash.
Ethereum, also known as ether, traded 20.9 percent lower at $239.63 Monday afternoon, according to CoinDesk.
If you're new to the world of crypto currencies then this seems like a big deal but once you've gone through a few rollercoaster price rides (usually takes a 3-5 days to acclimatise), you'll realise that dramatic price gains and drops are just par for the course.
I think what this proves is that no one really quite knows what to make of crypto at the moment and confidence is easily gained and lost as a result.
After the massive gains in the last two months I am not surprised. I think it really depends on where you got in at as to how you feel about these drops. Now is a good time to buy as this should be around the bottom....but you never know for sure :O