$13: Ether Prices Plunge in GDAX Exchange Flash Crash In yet another instance of just how volatile the cryptocurrency markets can be, the price of ether plummeted to $13 today on cryptocurrency exchange GDAX. The steep decline, observed at roughly 20:30 UTC, had an outsized effect on the market for the digital token that powers the world's second-largest blockchain. Overall, the value of ether fell to this price after trading at as much as $365.79 earlier in the session, according to GDAX data. As a result, the flash crash represented a more than 96% decline from the daily high. The move was so severe that Coinbase, the US-based operator of the exchange, opted to disable trading of the ETH/USD pair and block withdrawals of ether. Further, the price of ether suffered this loss amid signs that the ethereum network has been struggling to cope with the demands of its rising use. Data provided by Etherscan reveals that more than 300,000 ether transactions were broadcast on 20th June, an all-time high for the two-year-old network. As such, it remains unclear whether the decline and network congestion will be enough to stem enthusiasm, as until recently, many market observers were so bullish on the asset's potential they believed it was on track to bypass bitcoin as the market leader. At press time, ether was trading at roughly $300 across global exchanges.
While that story may be true I believe it had little to do with the recent correction which actually started on 06/05 when it started increasing on declining volume and then didn't consolidate after the first correction. CNBC will have a nice story to sell advertising though. Blockchain bitcoin wallet start-up raises $40 million from Google, billionaire Richard Branson http://www.cnbc.com/2017/06/22/bitcoin-wallet-startup-blockchain-raises-40-million-from-google-richard-branson.html
'Flippening' Flop? As Ethereum's Price Pulls Back, Market Remains Bullish http://www.coindesk.com/flippening-flop-ethereums-price-pulls-back-market-remains-bullish/
I think 200-220 ETH/EUR is the bottom but quite a significant correction. Just goes to show the ones that think something has unlimited value can just as easily think something is worthless. This is especially the case when something is based on an idea with no intrinsic value. The real big players will get in at this level and won't give a fk what the rest of the market wants to do.
HMMM, let me see if I got this right. Last week ETH had a flash crash to $.10 and investors los their ass that had a stop limit, there are posts on ET of people getting sold out at $.10.... so why would anyone in their right mind even consider ETH! The no name exchange just prooved that they cannot handle the trading. Allegedly this was caused by a sell order of $30M, that sure doesn't seem like a big order considering the Market cap on ETH is $29Billion. I still say this will end with either the no name exchanges going under (happened in 2014) or Government intervention... ok, now you can flame me for my opinions
The rule is that price usually visits the low of the crash in the upcoming days. Now it can be argued which broker to follow, the one I do had a low of $150... Edit: I am trying to find the same chart, but looks like they have changed (or not showing intraday low) and some already has reached the original low of June 22nd....
And again you are the misinformed Troll. It's already know for two days that this flashcrash, although not the fault of the exchange, is reimbursed completely: http://www.coindesk.com/gdax-exchange-reimburse-ether-flash-crash/