Did Ethereum Drop to $20??? It Really Happened!!!
I read somewhere that Ethereum dropped to $20 at some point for around a minute and a half. I didn't believe it until I found an image on Facebook (the one with the notifications) and then I checked CoinBase.
It really did happen! This is shocking! People who bought it at that price must have made a lot of money!
I checked on eToro but it was not the case. eToro's charts didn't show Ethereum dropping below $290. I wonder why?
Any thoughts on this? Did you invest when it was at $20 for a minute? It definitely must have been a glitch.
I did an article explaining what happened, hope it helps: https://steemit.com/gdax/@gartz/understanding-coinbase-gdax-eth-crash-and-why-circuit-break-could-make-it-worse
It wasn't a glitch, some posh motherfucker with 38,000+ Eth from a few years ago dumped it from his wallet into GDX I believe it was, and, well, only 12k buy ordered were in place, sooooo
Nobody picked it up who didn't have an auto-buy though, it lasted too short and everything crashed.
Imagine if i was sitting there looking at the screen on coinbase and sudden realised it had dropped and bought a few hundred eths! I wouldn't be here!
A much better explanation can be found here: https://t.co/vBMQLoVo8i
Essentially a fat-finger triggered a stop-loss sales cascade, which wiped out the order book. It's a total disaster for many people.
coinmarketcap.com still has ethereum at $336.89
Yes it must have been a glitch.
It really happened, it wasn't a glitch.
It was a glitch, I read somewhere thatno buy orders went through at that price.
It wasn't a glitch, some posh motherfucker with 38,000+ Eth from a few years ago dumped it from his wallet into GDX I believe it was, and, well, only 12k buy ordered were in place, sooooo