CoinBase:ETHUSD charts are now forever messed up because of the CoinBase/GDAX feed and the ETH "liquidity" / processing delays of today, June 21, that led to this event. I wonder how many ETH panic sellers CoinBase/GDAX screwed-over as Bids dried up or were pulled, and who was the genius who left a Good-til-Cancel Limit Buy Order at US$13 on GDAX, for what Quantity? CoinBase/GDAX themselves?
The ETH network has been unable to process the transactions timely and too many ICOs pricing in Ethereum. Those ICO recipients won't hold everything in ETH, if it isn't a stable store of value. This is undoubtedly part of the downward pressure on ETHUSD price. This liquidity issue will be bad and hurt ETH, it may help BTC, unless they hurt themselves by messing up the SegWit2x/UASF/BIP148/Miner-Vs-Ecosystem conflicts.
Diversify your holdings of Digital Assets is my recommendation if you are a HODLer or long term investor. If you are a Trader, welcome to truly "Free Markets". You are on your own. And IMO, no, Stops will not Protect you. It might have been Sell Stops that CRaShEd ETH down to $13, because CoinBase and the ETH Network couldn't keep up with the volume of transactions.
Edit to add news article link: Here is one article link: www.coindesk.com/13-...xchange-flash-crash/
The ETH network has been unable to process the transactions timely and too many ICOs pricing in Ethereum. Those ICO recipients won't hold everything in ETH, if it isn't a stable store of value. This is undoubtedly part of the downward pressure on ETHUSD price. This liquidity issue will be bad and hurt ETH, it may help BTC, unless they hurt themselves by messing up the SegWit2x/UASF/BIP148/Miner-Vs-Ecosystem conflicts.
Diversify your holdings of Digital Assets is my recommendation if you are a HODLer or long term investor. If you are a Trader, welcome to truly "Free Markets". You are on your own. And IMO, no, Stops will not Protect you. It might have been Sell Stops that CRaShEd ETH down to $13, because CoinBase and the ETH Network couldn't keep up with the volume of transactions.
Edit to add news article link: Here is one article link: www.coindesk.com/13-...xchange-flash-crash/