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View Full Version : Ethereum Flash Crashes from $360 to $13 Before Recovering


barn32
06-21-2017, 09:45 PM
"Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements. ... Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer."

OK, whatever the hell that is.

I had never heard of Ethereum until I read this article. Apparently it's traded in one form or another because it flash crashed from $360 to $13. One trader, who was using stops, got filled at 10!

"GDAX just sold a good chunk of my ether at 10 cents each!

So I had a stop order at 316, when GDAX went down (for whatever reason) all my ether was sold at the highest (at the time) price available. When I logged in I saw a small USD amount, I though it was a hiccup. Checked the fills and indeed it was sold at 10 cents. There is no way this will be reversed right? If that's the case I believe I will be leaving the crypto market at least until it stabilizes.

Just lost 3k in the blink of an eye."


Read full article here: (http://www.zerohedge.com/news/2017-06-21/ethereum-flash-crashes-after-status-ico-clogs-network?page=1)

AltonKelsey
06-22-2017, 01:31 AM
If it had been filled at 7 cents it would have been reversed. Crypto has a very wide allowable range, and $330 to 10 cents is considered fair, but 7 cents would be called erroneous.