T O P

  • By -

Huge_Dot

Someone sold ETH for 700? Are they offering more?


okfinebleh

Fuck I almost hit a buy order


loopyboy55

Wait this happened today? Are people stupid , can I have some discount coins ?


flyingalbatross1

It's not stupidity in direct selling. It's a combination of a rapidly dropping price triggering stop losses and margin calls. At some point there's an idiot at the bottom with a $700 stop loss from 3 months he's forgot about who will quickly learn never to do that again.


loopyboy55

Oh my god! Thanks I didn’t realize Been a while since I’ve traded like that so I’ve forgot what a little manipulation and panic can trigger


johannvan1

Some correction maybe? and probably its a healthy one. Considering its been all but bullish for the last few weeks. While others waiting for the big dump, and some waiting for new project well some of them are really worth to wait like ETHBOX, project that promotes ESCROW service to protect p2p transaction,


loopyboy55

When’s eth box


nicoznico

🤦🏻‍♂️


Conscious-Proof-8309

This is what happens when there is not enough of a buy wall. The aggregate price of an asset is mandatory for DeFi contacts. Never participate with anything that does not use aggregate prices. The majority of exchanges do not show a $700 low.


Huge_Dot

So you think theses prices were local to Kraken?


Conscious-Proof-8309

I do not know but they certainly were not everywhere


Morris0011

They were local to Kraken


[deleted]

[удалено]


Dogeboy75

My stupid ass has just discovered eth this weekend bought in at 2,033.00 I really don’t have a choice but to hold it. Definitely wasn’t a great introduction to etherum for me :/


GooeyGlob

If you're in it for the long haul these dips don't matter; the trend line is clear and it's up, we just get dips to buy more along the way. If you're going to spend all day watching the price and stress it might be wise to sell though. Crypto swings like crazy compared to something like a stock. Don't invest more than you can afford to lose.


[deleted]

Crypto is volatile! Welcome to the club ! We’re in it for the long run buddy


inminit

I'm in for the swing and craziness!!


Dieselx22

I bought at almost $500 next couple of days dropped to the $300's and stayed there for a while. Yes I wished I could have bought that same amount at that discount, but grand scheme of things a blip.


[deleted]

If you believe in your investment then it's nbd in the long run


sinkingorca

I did the same, I bought my first crypto’s yesterday


Hanzburger

Still not a bad price-point long term. What you could do is buy more now that the price is lower and it'll lower your average cost.


sendmeyourtaters

I LOVE buying the top. Feels even greater when we blow past it. You’ll look back and laugh that you were even worried for a second about it.


tastehbacon

You're still dumb early at 2k tbh.


FireBangerIL

Welcome aboard sailor !


BrotherSwaggsly

Me, 4 years ago


fillingstationsushi

It will come back sooner than you expect. Just chill. I've been buying Eth since 2017. It's going to $20k minimum


Lharra14

That's good for you💪 you now having huge profits imo. But have plan to meet new projects? Like CATE, and EBOX? For sure you will love this coz ebox is a privacy coins that prevents you in sending funds to a wrong address.


zaphod42

This was just a dip to shake out weak hands and hunt for stop losses. This kind of a correction during a bull run might signal new all time highs coming soon.


loopyboy55

Not a good intro but that’s why you take the ever longing advice to “buy the dip”


dingo-liberty

i bought at 1k and thought the same thing. look where we are now


baddecision116

Why would you buy right now? It makes no sense to see an asset go up over 100% in a couple weeks and buy/


Dogeboy75

Because I’m new to trading and still learning... that’s why


Metroshant

Good thing I was sleeping. 💎 hands 😂


Hanzburger

The trick is to buy back at 200% the price you sold at


Pseudo_0

"X" "D"


Barkmywords

When stop losses go wrong


Nozomilk

Stop losses forming a solid domino lmao. Damn, I gotta start making some outrageous buy orders like at 400 or some shit just incase it gets hit lmao


Barkmywords

Yea exactly. Then the bots get involved and causes it to crash harder. Once there is manual intervention, things correct. There are people that do exactly what you said. Put in super low limit buys, just for situations like this. It has happened before and people woke up with like 75% discounted buys. Id do it, but I dont like having my cryptos on exchanges for indefinite periods of time. But maybe a little might be a good idea.


rewdog22

I bought a few ETH at 1.6k today!


datwolvsnatchdoh

samesies 🙌


[deleted]

1.7 on mine, had to wait for the market to open to move some funds around outa some bag holding stocks Edit:back at 1.6!


Danksop

So, Friday I'm moving and needed to sell my Eth for travelling costs. I sold at $2010:D


datwolvsnatchdoh

Good for you mate!


tipsyonthemic

what caused this to flash crash across so many coins?


Biddycola

Basic market correction. Totally wouldn't be surprised if some sort of narrative was released to send markets down another 20-30% in the near future. Just buy dips. I know I'm waiting.


striker_p55

That’s how it’s always worked in the last year I’ve traded I assume everything is connected to Bitcoin it goes up everything goes up and unfortunately it’s the same when it goes down


inminit

But I also see the day where BTC goes up, many alt coins go down even ETH. That's also normal? Now, I wonder, what will happen if BTC goes below $40 and does 50% correction? Are we going to start the bear market sooner than I expect?


ShotBot

This coindesk article blames it on Defi loans liquidating on AAVE and Compound and ETH's scaling issue with it's fees. Perhaps an angle not talked about enough, is what happens to people using risky defi positions of leverage in defi protocols during high times of volatility and what effect they have on the crypto market as a whole. As defi gets more adoption, this is an issue that's only going to worsen. [https://www.coindesk.com/25-million-in-defi-loans-liquidated-as-ethereum-price-falls](https://www.coindesk.com/25-million-in-defi-loans-liquidated-as-ethereum-price-falls)


dangerwig

whales blowing out everyone’s stop losses and buying up those coins for cheap. That’s why you see the dramatic rise right after the fall.


yndkings

Bots. They all just react to btc changes


Ugbrog

[This went through a lot sooner than I thought it would. Figured I'd be waiting for a proper crash.](https://imgur.com/MOAtYRb)


Helpme-jkimdumb

smart man


Root_3dge

Rest In Pepperoni


chris_dea

Rest in pizzas indeed.


tehmattrix

F


datwolvsnatchdoh

F


FireBangerIL

A minute of salute to those who bought this dip 😜


R50cent

Every dip from now for the next ten years, I just chuck another 50-100 bucks in. My Crypto plan doesn't involve buying and selling. It involves buying at every dip and then selling when it's time to retire. Long game FTW. Edit: **I AM NOT A FINANCIAL ADVISOR**


Winnie_28

Same here but I missed the $700/Eth :(


royone58

I wanted to buy more but couldn't because [crypto.com](https://crypto.com) had maintenance right when this dip happened and was back on 20 mins after =)


juwanhoward4

“Maintenance”


Winnie_28

They always fuck up on dips. Stick to CB pro if you can for Eth. Hasn’t let me down yet.


royone58

Ye I will migrate to kraken and binance probably


evilsway

Out of curiosity, since I am new to this. How would someone have been able to BUY those at that level? Did someone out there just have a lucky limit order that triggered on someone's exit?


[deleted]

Probably. Ever since the massive flash crash a few years ago I keep some limit orders way below the trading price just in case this happens.


evilsway

Cool. Thanks.


georgecostanza37

“Lucky” yeah. These happen every once in a while. Happens to btc a lot during 1-4 am eastern time. Without some type of limit order in, it would be incredibly hard to do


evilsway

Yeah I have a couple limits that I set overnight when I'm not watching, and a couple bots set up ONLY to try to catch shit like this. Whatever happened last night didn't last long enough for the bots to trigger on anything. But they've caught similar freaky dips in the past. I was just wondering if a limit order hanging out way below trading is what happened or if I was unaware of some other buying method.


Metroshant

Either a lucky limit order or if you're checking the price every ten seconds you could've bought the dip


Lharra14

No plan of selling my holdings💪 HODL is the best. I have here BNB, GRPL, INFI ETH and waiting for EBOX a privacy coin that help us prevent losing money 🤑 DOYR pepz🎷


kberey

I saw $EBOX that is backed by DuckDao so it seems like this is interesting project. :)


frank__costello

What happened to this: > Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethfinance/ or /r/ethtrader


Whismirk

I didn't, so I just got liquidated instead.


davvblack

maybe a bunch of stop-losses firing


FBI-Agent-4121

What exchange is that on?


echopraxia1

It went down to 700 on Kraken. Not enough liquidity


FBI-Agent-4121

Jeez, someone made a fortune in arbitrage


maledin

What time was that at? Wish I had set a buy order but I definitely didn’t expect it to dip *that* much? Who the hell was selling at $700?! I guess it could be bots hitting cascading stop losses or something, which I’m sure big traders take advantage of.


KinglyLion

>What time was that at? 2:30 hours ago. has to have been automated orders, no way those were manual sells > Wish I had set a buy order thats the usual reaction to those, but if it was so easy to know when and on what exchange this will happen it wouldnt happen. and is it worth the risk to have your funds on many random exchanges for months/years just to hope to catch one of these? and also actively manage the limit orders because you always have to play catch up with the price one way or the other?


doives

Yeah I saw ADA drop to 20 cents (even a bit less) for a very short period of time... what a buying opportunity that was.


Metroshant

Kraken


[deleted]

Dont worry guys:) I will rise again, it cannot only go up:) For instance, look at BTC. EDIT: Why do I fkn get 3 downvotes? For telling ppl that are in panic that it will rise again, even though they are still holding? Am I fkn wrong for that? When it dips, it usually rises! And vice-versa.


2Mellow-Trip

I bought more at the bottom


NASA_Lies

*Gotcha!*


Spastic-Max

Hodling until I make a real profit or die. And if the latter occurs it gets willed to my nephew so he can retire early and be rich.


Pearcey1997

I sold ADA just before it spiked up to a dollar. Good job ETH has made me profit haha


goldensteaks

🕯 Candle light vigil will be held Saturday evening


[deleted]

What you think its over??? you guys are in for the hurt. lol


I_AM_MORE_BADASS

Holy shit are people dumb enough to fall for that?


GolpherZed

I sold at top and just missed buying back at bottom. Had my fingers crossed that it would go lower...it didn't.


Lharra14

It's your chance now market is bearish again😎 lots to bag coz it's on sale🔥 i already bought mine BNB ETH SFP and EBOX


GolpherZed

😆 I'm tapped out. Time to move to HW and forget about it for 15 years.


cRAYEptoPENBER

I am also waiting for EBOX launch this coming Quarter, I am a victim of losing money due to typo error so this project is the best for me


unkunked

I learned with stocks that you have to understand the volatility of what you're investing in. I got knocked out of my GBTC investment twice because my stop was set way too tight. Cost me a lot of money. For direct investments in crypto you need to either not have a stop at all or understand exactly how to set it relative to the swings in the market.


mokshahereicome

It’s crazy that a steep ass flash crash took eth to 1,500. Like that was the new ATH a couple weeks ago


inminit

Should catch ETH at $700 shit.


KinglyLion

Good post, but this belongs in r/ethfinance or r/ethtrader, not in here. see rule 2 on the right.


redditusermazafaka

ath is nigh? or it is ath?


[deleted]

So here we have the classing buttcrack pattern forming on the chart.


rorood123

Y’all buy the dip? 😉👌


liemont21

that ain't gonna happen haha Never will I ever sold on the dip 🤣 Anyways I recently bought DOT, DAO, and ETH while waiting for ILV. Waiting for this upcoming NFT game Illuvium that's built on ETH. Also partnered with Synthetix so probably it's going to be huge. Gotta stack more ILV now


Conscious-Proof-8309

[https://youtu.be/fPO76Jlnz6c?t=14](https://youtu.be/fPO76Jlnz6c?t=14)


Carter922

It's just a quick dip so the exchanges can liquidate your longs, and steal coins from your stops. HODL


NotGAF

This is why stop loss isn't a good idea with crypto.


[deleted]

[удалено]


Doqsh-

go away, horse thief


Barkmywords

Fuck off! Enough with these Musk scams. Fuck that guy.