The fears in Crypto currencies : Etherium Down fall to 0.10 USD
The instable nature of altcoins, and their various exchanges (Poloniex et al), was exposed recently when the price of Ethereum (ETH) fell from over $317 to touch a ‘spike-low’ of just $0.10, on the GDAX exchange.
This is due to a multi million USD sell off by a big investor , which raised fear and triggered a sell off effect, causing ETH to temporarily trade as low as $0.10.”
Top coin Bitcoin (BTC) remained immune to the trading problems at GDAX and traded just 1.25% lower at $2642.
Chart: Bitcoin Daily Timeframe (February 25 – June 22, 2017) Source Ref: https://www.ig.com/uk/charts
This is a serious limitations with crypto currencies because of the volatility nature and its (sometimes) dependency on movements in the market, news and huge investors decisions.
What do you think? is Steem immune to such effect? send in your comments, feel free to resteem, upvote and follow me.
Also read : Why Steemit will disrupt social media and make socializing profitable again : https://steemit.com/steem/@charles1/why-steemit-will-disrupt-social-media-and-make-socializing-profitable-again
Source Refrence:
Thanks for your support guys @mcekworo
Liked and followed
Thanks same here
same
Nice chart view - with the highlighted fib. retracement levels!
Bless you buddy and keep up the good work.
Thanks a lot, I appreciate your comment and support
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Thanks, fired up and ready to go
The volatility may be a man made plot to make crypto seem unstable? We'll see...... Thank you for sharing!
I agree or even to cash in on the fall. These big traders can change the market in their favor
It will be interesting to see how this plays out.
Good point
Market has corrected after the investor repurchased..lol...made more millions
We'll see..........
Correct
👍😁
welcome
thank you for your input. I think we could see it continue the rising trend throughout next week.
Thanks for your comment ...again
no problem! hope you're enjoying the chainbb :)
Absolutely, hope it lasts forever
Absolutely...hope it lasts forever..hahah. Win win for all
Welcome buddy...you are fast, I like it. I think Etherium will do great
I try to stay on my toes ;) Now following you as well. I like your feed. Keep on Steemin'!
Good one, haha
welcome and we will certainly stay in touch
working great
watch
watch what? see my new post
Volatility concerns I understand. But I don't know why this specific situation would spark fears for crypto as a whole. A similar type of scenario would have happened if someone sold massive amounts of any stock at a super low price, like was done in this situation. Granted, someone would need to have the opportunity to buy super amounts of stock at a low price(if they didn't want to lose their tail), but it could happen.
Good point
really did Etherium drop to 10c - unbelievable
Yes, read the article and link there. This is crazy..but price is back . Thanks for your comment
yeah i checked and saw the price is still high
Crazy indeed.Lol
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This is serious. The recent trend in plunge calls for concern! ... But i still believe Ethereum will go up again.
Thanks for sharing @charles1
Point
it corrected already however some lost money when they sold very low
...feel free to resteem
Has already...Keep steeming