Coinbase Crashes As Bitcoin, Ethereum Join FANG Stocks Meltdown
Whether it is just a curious coincidence or not, cryptocurrencies are crashing along with FANG stocks this morning...
Earlier statements about the Ethereum network running slow due to extremely heavy activity appear to have taken their toll on one major exchange...
And Bitcoin is tracking FANG stocks lower (down around 13% this morning)... This is the biggest drop since January 2015
And Ethereum is down over 15%...after tagging $400 earlier last night
Some context however shows this 15% plunge merely drops Ether to 2-day lows...
Tyler Durden, Zerohedge
12th June 2017
Profit taking on all the bubbly assets. I'm not saying bitcoin is in a bubble, but it was getting a little overheated. The problem here is that the big boys always get out first leaving everyone else on the sidelines. Coinbase is a good example of why we need to diversify both in terms of other assets and where we store cryptos.
Great point. To be fair I've been trying to do that by joining Kraken, unfortunately they're still verifying my account so buggered until they allow me to trade! Coinbase is by far the easiest to use in my opinion, just no choice really
Time to buy! FIRE
I managed to pickup some today. The Coinbase glitches actually helped me get in cheaper, was going to buy in a bit over $2500 and wound up getting in under. I oftentimes have issues with Coinbase during turbulant times but today one refresh and I was able to buy.
I've been using CEO.io and have had the best experience with it so far. The service fee's are much but prices are guaranteed. Also, invest in ether ;-)
Ethereum is currently at $377, more or less where it was a day ago. The peak to a little over $400 is pretty characteristic of it's growth. In my mind, ETH looks a lot better than BTC. With Coinbase it's back up again after a temporary "maintenance" message. So other than being down for "maintenance" don't see anything irregular. BTC has had a flash crash like this weeks ago. But it's holding steady in the $2600s I personally think it will be some time before it reaches 3K it came close at $2996. But too many unknowns with Aug 1st, I think this is what is causing the dip. But we all know there is a lot of volatility with all of this, so business as usual in my mind.
Wise words WVM! (Probably)
Congrats to your Brother for his wedding!
Thanks man!
I see, that most of the crypto investors still do not get what it means "a bubble" in financial terms. They think something will rise up in price forever :D
I'm definitely new to the investment realm, but I don't think bubbles are necessarily bad things, they are opportunities. Also if we look at the .com bubble of the 90s, many companies that survived are now some of the biggest companies on earth currently. Google, Amazon and many more.
sure they are opportunity if you are sure of what you're doing. If you are 100% sure your investment will surge right after short fall, no problem.
I think no matter how much experience anyone has, when it comes to cryptos it's very much a level playing field, from noobies to most experienced stock guys... I don't think anyone knows 100% of any investments in this field.
with 100% sure I meant ... 100% sure in your mind ;) because no one can be 100% sure about what happens in the future
Great charts and love the 'Fang' terminology!!
Interesting