Why Ethereum price fell from over $300 to 10 cents in a day (Simplest explanation)
Here's a simple explanation for why Ethereum price fell down to so low so suddenly.
So if you follow crypto news even the slightest bit (do follow me if you don't, cause from tommorow I am gonna constantly post updates on every fucking thing that happens in the crypto world) I am sure you are aware of the fact that the prices of Ethereum on GDAX exchange fell down to 10 cents.
Now the reason behind it is pretty simple, someone with multi million dollars worth of Ethereum deciding to take an exit. This triggered a fall in price on the exchange which further triggered a few stop loss orders which further caused a greater decrease in price and the chain went on to somewhere around 800 stop loss orders (as mentioned in a GDAX blogpost). This caused Ethereum to trade for as low as 10 cents on the GDAX exchange temporarily.
Is there a need to panick?
Not at all.
What you should do if you want to be the first one to know about anything that happens in the Crypto world?
Follow back cause from tomorrow it'll be my solemn duty to make sure that anybody and everybody who follows through my posts doesn't miss a single news of importance related to the crypto world.
Why it is important?
Well, a lot of us make our trading decisions based on predictions from the people we trust and the limited research that we are able to do due to our busy schedules. But I don't feel the need to explain that you will definitely be able to make better and quicker trading decisions if you knew what's happening out the there. The crypto world is moving fast. So fast that a difference of a day can cost you a lot. So there is no way you wanna miss the first ticket.
So go ahead, hit the follow button get on the bus and make sure you follow every post that I will be posting from tommorow that'll have the words Crypto news in the title....
Cheers.
Have a good day.
Happy steeming :)
Well, it is back up again so it does not matter. Upvote me and I will Upvote you :)
Which is why I said
"Is there a need to panick?
Not at all."
Keep following, resteeming and upvoting and I'll do the same. :)
Great post!
Means a lot. Thank you. I hope my news updates help you make better decisions :)
Some of the biggest updates for Ethereum are not even out yet. It's like the beta version just now. Wait until it's fully up and running the price will moon and beyond.
I appreciate your optimism and really hope that the prices go moon and beyond. I have myself placed a huge bet on Ethereum. Anyways, do follow for updates from the crypto world. :)
Too be honest, if i would have noticed that the price of ether dropped that low I would have tried to purchase as much as possible. I trust Ethereum over any fiat currency any day.
Interesting blog. I was about to start a similair discussion. The blockchain is here to stay. No matter what any crypto will do in the upcoming years. I think that's a conclusion we can make by now. I found this great website: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. See: https://www.coincheckup.com/coins/Ethereum#analysis To watch Ethereum Investment research report.