Ethereum Price Fall Earlier Today

Heres a link to the article, what do you guys think. Any of you panicked? Seems back to normal though, what caused such a massive spike?

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Only heard of the event after the fact. According to the article it was caused by someone selling millions of coins at once. Not sure why anybody would do that though - I mean sure, the price will drop allowing one to buy cheap ether, but by buying it the price will just go up again, so this looks self defeating.

Unfortunately I'm using another trading platform, for that crash really had the potential for some very, very easy and quick money

Waiting for the trend to die down again so that I can get tons of cheap (but possibly run-ragged and broken) GPUs on ebay x3

Only at that point Volta will be out and current GPUs quite possibly obsolete. According to rumors even Vega might be released some day.

This is that high volume trading thing Wendel and co. bring up every so often. A group mines up and buys significant amounts of coin, then in one go dump them on the market causing a temporary crash. Before automated traders can respond and close their orders to stop the out flow of their own coins, the people who dumped theirs to drop the price rush in perfectly timed and snap up vast amounts of currency at the super low price.

It seem pointless but timed correctly you can force such a low price that you can buy vastly more than you dumped and make out like bandits.

They were just faster than the system.


7970 is a bit power hungry but still competes with 960s and 1050Tis despite being 5 years old. Obsolescence doesn't happen overnight, especially nowadays.

I'm just interested in the influx of cheap used mining cards because I'm not as bothered as others about the prospect of them having been pushed to their limits for months at a time. Some might die, but some might still be ok.

Maxwell and Pascal cards are going to hit the market at low prices too. Lots of GM204 and GP106 cards mining right now.

Ethereum price didn't drop, only on one exchange.

Typically when you sell off a massive amount like that you can buy even more back then have it be worth more than what you dumped was.