One lucky day for an Etherium trader has resulted to an exchange of fortune from merely $380 to about $1,142,700.00 in a matter of few seconds.
On June 22nd price of Etherium on GDAX fluctuated from $0.10 to $300, the reason for this volatility is not what general market trends dictates but to a transaction that brought this very rare occurrence. Here is how it all happened:
The price of Ether was trading on the GDAX currency exchange platform at around $300 2:30 PM EST. Suddenly it dropped to as low as $0.10, it happened because a trader placed a multi-million dollar order to sell Ether.
This send an array of price-triggered "sell" orders as computers sold off Ether in automation. Traders were losing millions of dollars.
But this one lucky trader had an automated placed "buy" order at 3,809 Ether if it dropped to a low price of $0.10.
Within seconds Ether recovered to its market price of around $300. Which means that this 3,809 Ether trader has now its value raised to $1,142,700. The trader had made 300,000% return in such a short time.
This is the first time that a trade with a swing like this had happened . Nothing of this magnitude at least, where an asset lost 99.96% value in just a matter of seconds.
Things happen and may all my readers today have a fortunate circumstance like this happening to their lives soon...
I am refreshed everyday by listening to powerful messages or hearing inspiring music. Here is one of what I watched and listened today. Be inspired, be empowered, enjoy!
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://medium.freecodecamp.com/one-ethereum-trader-just-made-1-140-000-in-seconds-thanks-to-an-epic-glitch-48af7e0ffe49
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It's pretty wild out here in the west and this is a great example of that lol #SpreadLoveNotFUD
exactly...this is actually a great opportunity for wealth transfer especially to positive people who treat this as something to take advantage and not to fear.
Inspirational. Thank you for sharing, and wow just wow!!
Glad that you find it inspiring... may that same good fortune happen to you in the near future. :)
Incredible ! Wow! So how do we place a "buy" order? Can we also place a "sell" order to protect against a sudden drop?
So... the lesson to be learned, also, is never to sell a multi-million dollar "sell" order. If ever I get so many dollars, I will sell in chunks of $10,000.
Thank you for the lesson!
(I am a newbie, just learning)
Thanks for this incredible article.
I am occasionally trading at Poloniex as opportunity allows, I think they have a more user friendly platform for newbies when compared to other trading exchanges.