The Ethereum fell to $ 13 for the main American a crypto currency exchange. What happened?

Black Friday sort of ended, but the discounts on kaptarenko left. Yesterday, traders had the exclusive opportunity to buy a really cheap Ethereum — for only $ 13! According to analyst Cole garner some market players still managed to fill their buy orders during a suspiciously sharp drop in the cryptocurrency.

The event took place on the trading platform GDAX, which is managed by the leadership of Coinbase. Immediately after a huge candle on the chart in the tweet began to appear the first people hitting the “big jackpot”.

What caused the fall?

Most flashcache is caused by problems with the algorithms of the exchange, which is often overwhelmed in moments of serious price movements of the cryptocurrency. In addition, the traders themselves sometimes make mistakes, placing orders to sell at much lower prices. For example, someone wanted to sell ETH $ 130, but inadvertently had the wrong zero, and sold their coins for only $ 13.

Other market players are aware of such incidents and often specially put buy orders at low prices to catch the tail of this rare opportunity to earn good money. Such situations often occur even on the NYSE and Nasdaq.

In the history of Ethereum have already been cases truly sharp falls in prices. In June, the Coinbase value of the cryptocurrency just for a few minutes decreased from 322 to 0.1 dollar. While a few lucky ones were able to snatch yourself some ETH almost for nothing. In Coinbase reacted with understanding to the situation and compensated the funds to those whose long positions were liquidated because of the incident.

Will I receive the payment this time? It is unknown representatives have not made any official statements. To not miss the next drop Ethereum, be sure to subscribe to our cryptcat.

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