Community post
$13 ETH and Coinbase Down again!
Someone just sold a big chuck of ETH at Gdax and of course Coinbase is now down again.
Seems like it was around $30 milllion in one sell order on Gdax exchange.
The dip was bought by orders set under 300!
Until next time,
Rick
Replies (7)
@bluesky2100 great catch!
I saw the same thing and was just blown away...
Limit orders... They saved the day for me.
https://steemit.com/ethereum/@jfgrissom/you-just-missed-an-ethereum-flash-crash-to-usd13-00
Nice video! Just upvoted you. I have set more limit orders just in case we get another dip!
Thanks Rick! I added a link to your post here. I thought people should know that you caught this also. You're up-voted and followed my friend! :)
I've seen reports of people with margin calls losing their entire portfolio...
eg. 400 ETH
2.3 ETH on margin
400 ETH sold for $2 a piece
Ouch. Ouch. Ouch.
@blakeh - I've seen a bunch of messages like that too on Reddit an Twitter...
Absolutely brutal. (I always trade with limit orders and never use margin so my only regret is not having set a limit order that seemed crazy at the time.)
There is metion of an ICO that caused it on ZeroHedge. http://www.zerohedge.com/news/2017-06-21/ethereum-flash-crashes-after-status-ico-clogs-network
Cheers, following you now as well!
This is the best video response I've seen on this so far.
https://www.youtube.com/watch?v=CcPqkIz0CR0