Crypto Currency Outright Lies in the Media
I look out for articles in the media with regards to crypto currencies and I must say just lately its been hard keeping up during these last couple of weeks. This particular article by CNBC caught my eye, it seems most news agencies are pushing the warnings of crypto investment just a little too much. Don't get me wrong, I believe people should be warned about the dangers of investing and that goes with any investment. Crypto has been particularly volatile over its life time and a big correction could come at any moment.
It was when I watched the video that I got the biggest shock, they actually stated that earlier this year Ethereum crashed to 10 cents!! now that may have technically happened but I certainly cannot find any evidence of this in the charts.
Video with outright Ethereum lie
I am I wrong on this, did Ethereum crash to 10 cents earlier this year? If it did I missed the buying opportunity of a lifetime!
Yes, it did drop to 10 cent during a flash crash for as far as I remember, but only few were actually able to get it at that price and it bounced back quickly. There was a very large sell order with a low minimum price which bought pretty much all the buy orders, this made the price drop hard which set of a lot of the stop loss orders which on it's own triggered more stop loss orders like a domino. Many who had these stop loss orders as a safety mechanism actually lost a lot of money. I hope this clears things out. (search google ethereum flash crash)
Thanks for info, on further research it was on the GDAX Exchange only and it was a blip, Technically accurate but they don't clarify that and it looks like its presented to scare people from investing.
And then there was this lucky fella
http://www.ubergizmo.com/2017/06/ethereum-crash-wiped-out-and-minted-millionaire/
I think these type of articles are representative of the powers that be trying to prop up the existing fiat system. If too many people start moving their capital into the cryptosphere all at once it could trigger a bank run and accelerate the financial downfall which is underway.