You just missed an Ethereum flash crash to $13.00
It's June 21st 2017 and Ethereum went from about $300 to $13 in a flash.
Wow... that is all I have to say...
I had a limit order in so I'm stoked... but wow. THAT IS Volatility!
So what can we learn from this?
- If you trade on margin it only takes one shake-out like this to close out your trades (at a loss) without your consent on a margin call.
- There is real volatility here (which means there is legitimate opportunity).
- Limit orders could put you in a good spot during shake-outs like this (I had a limit order in for a buy around the current uptrends support - $300).
- Is it worth putting some limit orders aside to pickup on crazy flash crashes like this?
Hopefully this is all good food for thought.
FYI:
@bluesky2100 saw this in real time too. Here is a link to his piece on it.
https://steemit.com/cryptocurrency/@bluesky2100/usd13-eth-and-coinbase-down-again
Reminds me of the MtGox crash from $17 to $0.001.
@wekkel yeah it does! Thanks for sharing your thoughts!
That's quite scary! :o
Nice post man you get my vote!
my friend told me about this also I couldn't believe it but I know if Ii saw it real time I would have never been able to deal using coinbase. Do you know of any apps that allow you to set limit orders?
This is the best video response I've seen on this so far.
That was some good thoughts. I have thought about the same things.
I think one important thing to understand, is that there always is the risk of a flash like this.
And the flash will always (i think) be down.
So i would pay much caution to going long on margintrading in currencies with a lot of traction and movement.
This also leaves the opportunity to put in long options, at places in the graph where the accumulative forces in the volatility would have started.
Stay safe! :D