Ethereum flash-crashes to $13, then bounced back to $296!!!!

in crypto •  8 years ago  (edited)

Wow! I have seen Ethereum dropped by 30-45% before last month, but this is the first time I have seen it flash crashed down to $13.

Furthermore, it is another example of how volatile the cryptocurrency markets can be. The move was so bad that Coinbase has decided to disable trading of the ETH.

Apparently, the cause of the crash was created by Status poorly designed ICO. Status ICO clogged up the network yesterday with a huge number of high gas fee transactions.

Does that mean Ethereum will eventually head up back to it all time high or pull back even harder?

http://www.businessinsider.com/ethereum-price-flash-crash-2017-6

flash-crash.jpg

Coinbase-servis-nedostupen.jpg

crypto currency ethereum investment
8 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.34
  • Past Payouts $0.34
  • - Author $0.31
  • - Curators $0.03
6 votes
9
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  • Trending
    • [-]
      ·  8 years ago 

    wait! what?
    what does that even mean? newbie.
    so what happens to ethereum on coinbase?!

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      [-]
        ·  8 years ago (edited)

      I think it's a technical problem on Coinbase / GDAX website. Either they can't handle the heavy volume or it was a denial of service attack.

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.04
      • Past Payouts $0.04
      • - Author $0.04
      • - Curators $0.00
      1 vote
      [-]
        ·  8 years ago 

      Geezus!!! That is alarming and concerning :(

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00
        [-]
          ·  8 years ago (edited)

        Actually, I just found out it was caused by a poorly design ICO by Status. A huge number of transactions clogged up the network.

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

        • Disagreement on rewards
        • Fraud or plagiarism
        • Hate speech or trolling
        • Miscategorized content or spam

        Submit
        $0.00
          [-]
            ·  8 years ago 

          How long was it down for?

          Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

          • Disagreement on rewards
          • Fraud or plagiarism
          • Hate speech or trolling
          • Miscategorized content or spam

          Submit
          $0.00
            [-]
              ·  8 years ago 

            I heard Coinbase was shut down for about 2-3 hours.

            Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

            • Disagreement on rewards
            • Fraud or plagiarism
            • Hate speech or trolling
            • Miscategorized content or spam

            Submit
            $0.00
              1 vote
              [-]
                ·  8 years ago 

              That's crazy that would have been a steal I'd anybody bought some at 13. Did you buy any when it dipped??

              Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

              • Disagreement on rewards
              • Fraud or plagiarism
              • Hate speech or trolling
              • Miscategorized content or spam

              Submit
              $0.00
                [-]
                  ·  8 years ago 

                Nah. I ran out of money. Hopefully, next time.

                Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

                • Disagreement on rewards
                • Fraud or plagiarism
                • Hate speech or trolling
                • Miscategorized content or spam

                Submit
                $0.00
                  1 vote
                  [-]
                    ·  8 years ago 

                  Oh man you can't miss it next time brother let me know if it hits 13 again.🙏

                  Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

                  • Disagreement on rewards
                  • Fraud or plagiarism
                  • Hate speech or trolling
                  • Miscategorized content or spam

                  Submit
                  $0.00