I just made a thread about this with a possible theory.
There are 2 possibilities:
1) Coinbase being shit: it's too weak and any idiot panic selling can drop the price due low volume to absorb the impact.
2) Coinbase being shit, again: Brian and friends pumping before FUDding.
Moral of the story: Just use another exchange.
Topic: Dropped to 484 in seconds (Read 559 times)
This is why you need to be careful with stop losses... it's a great way for people to buy up your coins at a discount.
people are willing to hold on to their coins for a longer while, but they do it while they protect their profits by placing stop loss orders. the only negative is that if too many people are doing this, that it will have a chain reaction of stop loss orders going off. just now the price went down to $564 on bitfinex. let's see how low this will go.
This is why you need to be careful with stop losses... it's a great way for people to buy up your coins at a discount.
This. It crashed through the order books as all the triggered stop losses became self-fulfilling
This is why you need to be careful with stop losses... it's a great way for people to buy up your coins at a discount.
Bitcoinity is great because it reminds me of the old days, so im nostalgic about the layout, but lets be honest, bitcoinwisdom is the best site to check the price nowadays:
https://bitcoinwisdom.com/
They don't list coinbase as one of the default ones for a reason.
Coinbase is baseless, really, when it comes to current spot on bitcoin prices.
I go to bitstamp to get a relatively active price at the stat of the day.
I go to bitstamp to get a relatively active price at the stat of the day.
Depends on how many users are online and trading at the moment of drop? were you able to buy any amount with that price?
Coinbase Stats are not 100% right at most times. You may verify from Bitstamp too. The fluctuation in price of bitcoin is common but this much Dip in the price is not something to be ignored and should watch closely the factors which caused it (In case it really happened to that downwards direction to 484)
Coinbase has no depth. Follow Kraken, Bitstamp, Huobi etc.
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