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It's sickening to think that a $50,000. investment in Ethereum in January/February 2017, peaked at a value of $2M some weeks ago.
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Ethereum flash crash. This happened yesterday.
Ethereum briefly crashed from $319 to 10 cents in seconds on one exchange after ‘multimillion dollar’ trade
On June 24, 2015, I had an order to buy a thousand shares of NFLX at a couple of points below its price, which was around 700. It was just a whim, I didn't think there was any way it could fill, because the stock was headed very north of 700, and around 701 already. Just some minutes after I placed the limit buy order, Carl Icahn dumped 1.4 million shares
For Carl Icahn, it's splitsville with Netflix
and the price dropped so fast as his market order was filled, that NFLX briefly hit some twenty six or twenty seven points below where it was trading before he dumped. The stock didn't make it back over 700 for nearly three weeks.
It just goes to show how a stock may tank if someone dumps a lot of shares all at once.
With something like ethereum, which trades much thinner than NFLX, it's easy to see how a large sell order could tank it - and tank it did, yesterday, from above 300 to as low as ten cents before recovering. A lot of people panic sold into the loss. Supposedly, someone had an order to buy $380. worth at ten cents, which if he held back to the over $300. recovery point, means he cleared a cool million. In theory. I doubt anyone really bought that low, or even if he did, held long enough to make a million.
Most traders lamented that they lost money.
But again, it just goes to show how with any stock a large sell order may really cause tankage, and with something like ethereum, you must be very careful if you're trading it. The "flash crash" shows how the fledgling ethereum system isn't yet able to handle large trades.
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