Despite the flash crash (I dont want to call that) from $319 to $0.10, It has massive potential.
Media and others wanted that these kind of crash and they would expect this crash on Bitcoin too. Thats where they can accumulate loads of coins for them to keep longer period. Bitcoin and other cryptocurrencies went up before they realize.
So they need a chance that they missed years before and throwing all type of bad news and regulations etc.
But, Ethererum is built on a newer generation of blockchain technology and is optimized for software engineers, says blockchain investor William and nearly 35,000 developers and more than 500 start-ups are developing its platform.
Ethereum investors or buyers shouldn't worry too much about the digital currency's flash crash from $319 to just 10 cents in a matter of seconds, because they already knew the potential of Ethereum
It looks that It was more a flash or a blip or maybe a technical error on the exchange that was powering a lot of the transactions.
One of the differences is ethereum has been optimized for the software engineer, whereas bitcoin was more oriented towards being a cryptocurrency. Ethereum has been really adopted as a software development company, so it's really loved by the developers and programmers out there so the IT companies will start using it soon.
Blockchain technology is a relatively new form of industry, there's room for many different currencies and its fluctuate here and there and before its get settled to climb higher and higher which gives to build new eco system.
Ethereum has about 35,000 developers worldwide in addition to more than 500 start-ups developing on its platform, Mougayar pointed out. Large companies like Microsoft and BP are using ethereum in different projects. And ethereum has become a source of "cryptocapital" since it is a cryptocurrency.
So Please patience with Ethereum and it will do it your favor. I remember that when it was $7.45 I never think it will reach $100, but what happens it went beyond that.
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I had a similar conversation with someone earlier today. "Ethereum has been really adopted as a software development company, so it's really loved by the developers and programmers out there so the IT companies will start using it soon." This notion is very similar to what I had in mind. I'm not well versed in all of the technical side, but my point was that developers clearly like the Ethereum chain, which is why I'm not panicking with these mini "crashes" when someone decides to make a multi-million dollar market sell order. The only thing that has me concerned is a scam ICO on the Ethereum chain that send people running.
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Exactly CMRAZZ, Great!!
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Also I forgot to post this in my comment. The "crash" was due to a massive order. GDAX's official statement said "On 21 June 2017 at 12:30pm PT, a multimillion dollar market sell was placed on the GDAX ETH-USD order book. This resulted in orders being filled from $317.81 to $224.48, translating into a book slippage of 29.4%. This slippage started a cascade of approximately 800 stop loss orders and margin funding liquidations, causing ETH to temporarily trade as low as $0.10."
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Follow me if possible. thanks,
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done.
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