Ethereum Drops To $13.00steemCreated with Sketch.

in ethereum •  7 years ago  (edited)

For those of you worried about Ethereum, don't be as although it has dropped, it is still relatively high in price. Earlier today, the price of Ethereum dropped to $13.00 as the ethereum network was being clogged by transactions, many exchanges suspended Ethereum and Ethereum token transactions.... And even with this, there was a big backlog causing the price momentarily to drop.

I'm not a financial adviser, so take this at face value, but I personally think the price might go down a little bit more then pop back up. What do you think? Let me know below

If you like this post feel free to "Resteem" this post and follow me at "https://steemit.com/@cryptowallet"

*Props to the lucky few who got it at $13.00

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I personally like bitcoin more, as there is a maximum supply of 21 million coins.

Is there a hard maximum of ETH tokens that can be mined?

As far as I now there is no cap, but this can change when they will switch to Proof of Stake.
For me inflation is a very important criteria.

Guys this is real right now go on coinbase! Buys and Sells Offline
Coinbase.com buys and sells are offline while we work to bring the site back online for all customers. This all happened on coinbase today someone turned in a $30 million sell at market and thats where it went on coinbase!

Actually it is more severe then they are saying. Looks to me low was $.10 on GDAX

Wow!!

giphy (28).gif

That drop was very strange. I saw It was dropping but I didn't know that it had dropped to that low level. I wonder if anyone had the opportunity to buy at such low price... if if someone did, he/she is very lucky.

It was because someone sold 8000 ETH below market value or for whatever reason. OOPS.

Sad to see the drop. Hopefully Etherium will bounce back. It is so good to see they're going up chasing Bitcoin. Go go!

It happened on coinbase all other exchanges are fine

  ·  7 years ago (edited)

I should wait to buy when price drop below 300 $

meep

13 dollars?? Seriously? Imagine if you bought it at that point..

  ·  7 years ago (edited)

Yeah today's low was $284 not $13... A considerable drop none the less - it was high near $365 a day ago.
No offence but you should recheck your work here.. it's miss leading.

It is true just because it didn't happen on poloniex doesn't mean it didn't happen. A guy turned in a $30 million sell order at market price on coinbase and that is where it took the price. If you go on coinbase they are still closed hours after!

  ·  7 years ago (edited)

So you're going to imply that I used Poloniex as my source ? Maybe if the author put up a full chart and source... We wouldn't be having this debate. Anyhow I guess this post served it's purpose...

hour_CryptoCompare_Index_ETH_USD_337_11498085420865.jpg

Actually it is more severe then they are saying. Looks to me low was $.10 on GDAX

He's right. It was 13$ on Gdax/coinbase

i thought the same thing i check the charts on a couple of exchanges and never saw it anywhere near 13.00

  ·  7 years ago (edited)

I've looked all over the exchanges and have seen no graph showing this drop, ethereum's price is down but nowhere near that much.

You can't trade on Gdax/coinbase because of this issue. That's where it happened, other exchanges are fine

Ok, but the price didn't go down, it was a bottle neck, and trading just stopped.

I sincerely hope Coinbase gets up online so I can buy at this amazing price!

Interesting... But I have been following ETH price all day and the lowest I saw it was $288 on kraken. Would have loved to buy some ETH at $13 nom nom nom

It happened on Gdax/coinbase ,you still can't login. They are working on it

Omg crazy 💥

In the charts nowhere to be found this drop you speak about.. where is this based on?

It was very very brief, so it may not be on some.

Check Here: https://cryptowat.ch/coinbase/ethusd/3m

Coinbase. You still can't login

The whale wallet tha cash out back from Genesis time

https://etherscan.io/address/0x7d551397f79a2988b064afd0efebee802c7721bc

Ethereum update!

i think this will go up more. just hanging around. thank you for good info.

I use Coinbase as my primary purchase broker. The official LOW PRICE FOR THE DAY is $277.22 and I guaran-damn-tee you that NOBODY bought @ $13 or 10¢ at Coinbase. They bought at whatever the 8000 ETH were offered at. Even if it WAS $13 or 10¢ it was 8000 ETH, and no more. If that is the case, it is the "F'ed Govt" using MANIP-MANOP to spook the ETH holders. Which would be a STUPID Move, since they just OK'ed ETH for 401K's and IRA accounts.

No, there were people who absolutely got orders filled at $0.10 and $13.00.

I don’t believe that the transaction backlog had anything to do with the price dropping down to $13. This was due to big fish manipulating the market. See my post about it here:

https://steemit.com/ethereum/@ccampbell/my-theory-about-what-happened-on-coinbase-gdax-today

I am seeing current price as $311.00, however it was $13.00 back in January, which puts whatever the current price is in perspective.

I watched polo all day long and never saw a price dip to $13. If it happened it was a fantastic buying opportunity .

I thought for a moment this was some typo or just something untrue but after i read the post... wow

Ethereum Buys and Sells Offline
Buys and Sells for Ethereum are offline while we work to resolve an issue. Bitcoin and Litecoin buys and sells remain functional.

Very good article. Interesting to see I'm not the only one that is thinking about this. 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 really advice people to take a look at: https://www.coincheckup.com I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. On: https://www.coincheckup.com/coins/Ethereum#analysis For a complete Ethereum Detailed analysis

Where have you seen the price at $13? What is the name of the site
Thank you

  ·  7 years ago (edited)

Coinbase. I think it an error from their side

On coinbase it got to 277
Surely something fishy here

Maybe they've solve the issue, but I wasn't even able to login

Coinbase it's down again, I just tried to log in but I can't

Very unusual drop !!!
=[]

Yeah agree it will go back up and I think only so many were sold off at the lowest dip point. IMO eth is a longterm investment. Also probably a good time to buy a few extra. If you think about it bitcoin is on the rise in the last 24hour and this has most likey tempted some big holders to put some back into btc. Let me know what you think Thanks steemers <3

Sometimes hold eth can feel like

wow thats a biggggggg droppppppppp ..... some of us are nine the wiser

I think maybe just maybe Eth experienced inflationary bubble. I mean Eth is inflationary, this should be around correct price range. Be wise and hodl tokens if already holding. Nothing past 14 day mark.

Flash crashes aren't real crashes. Supply/demand imbalance due to software or order errors usually, and if knowledgeable people knew it was coming, they would have put an order in to scoop some up... meaning they were buyers well before $100 was reached, but due to the incident, they didn't have an order in. A wider spread attitude change by investors toward a coin for fundamental reasons is more of a concern to me, flash crashes happen though. Stock market had a May flash crash several years ago, when someone entered in a robot order incorrectly and tanked the whole market.

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If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

It's called stop hunting and it is a predatory trade made by someone who knows exactly what they are doing,. This is why you should never use stops in thinly traded markets - if anyone can see the book they can see all the stops. Fast market conditions are common on many crypto exchanges.

Never. Use. Stops. EVER

Who even makes such unreasonably low buy orders?! Must've been a few lucky day traders looking at the right chart at the right time 😎

Everyone who bought Ethereum at $300 is going crazy....

thanks for the share

Holy Wild Wild West Batman, this crypto-currency stuff is crazy. Just a > 95% drop intraday, nothing to see here. The crypto-token world will never really be stable until they have their first 99% down event, and I don't mean intraday before it pops back up, i mean when Satoshi and the Ether-boyz all decide to cash out at once, realizng their billions in newfound wealth could be taken away in a matter of trading hours.

If you think about it, in a matter of minutes, some Ether billionaire somewhere went from having a net worth in the low BILLIONS, to one in the low millions-- and nothing even happened. What do you think it going to happen when it goes down and STAYS down due to some elephants cashing in?

No way. That would be a dream come true for me. Buy buy buy but nah. That can't be. Aloha!