History of the stock markets is full of moments when flash crashes surprised investors and made them wish they had acted quicker. Cryptocurrency markets and the Bitcoin history are famous for being even more volatile and that’s why we – traders love these markets. It’s the volatility that lets us be profitable, sometimes even more than we suspected.
In this article we would like to present the most interesting cases of flash crashes/ quick price drops that have happened in the last years.
One of the tools you can use at SkyRocket Trade platform is so-called SkyRocket BUY. Here is a quick recap of how does it work:
“The SkyRocket Buy function starts after reaching the price level entered in the “Activate at level” field and will continue to go down until the price increases by the percentage entered in the “Trailing” field. The purchase order will be issued at the price level specified in the “Limit” field.”
In other words, you will be able to buy the coin at a certain level after the price bounces – you can have this order set up with a number of cryptocurrencies without locking capital.
On June 19, 2011 Mt. Gox
The first flash crash that we are going to talk about is one the most dramatic at the same time. At some point (later famous for its exit scam) Mt. Gox Exchange experienced some technical problems. In just a few moments the price reached the bottom – one BTC for $0.01 prior to the crash price was around $17. It was caused by the lack of access to the exchange by some customers and technical problems.
2 years later the same situation happened on the same exchange – price slipped from $266 to 100$ pretty quickly – what a pity that SkyRocket Buy was non-existent at the time.
February 10, 2014 and the BTC.e exchange
This exchange is not anymore working yet it was popular in the early days of Bitcoin. In 2014 someone decided to sell (maybe by accident) 6,000 BTC and the price of the asset went down from $620 to $102, so more than 83%!
December 4, 2019 on Binance
This day the stablecoin USDS/BTC experienced a big crash on Binance. It’s price went down to $700 from around $7500! Someone got lucky – anyway the crash was made by someone selling 8 BTC.
March 12-13, 2020 at all crypto markets
Although it cannot really be called a flash crash recently in the days from 12 to 13 March BTC experienced massive selloff due to Coronavirus crisis. It was around 50% in just one day! Another perfect moment to use SkyRocket Buy 😉