Why are all crypto coins bleeding right now??

[Edgar R. Zakarian]

Especially ethereum and lykke. Why are they falling so drastically right now ? 

10 percent in 2 days. 

 

Anything special going on since they both of probably some others are behaving the same way ? 

[2FA]

Most of the overall momentum is from Ethereum and the Ether microcrash on GDAX the other day has caused a loss in trust.

[manikyath]

guessing it may be a bit of a scare after ethereum's flash crash a bit ago.

[Edgar R. Zakarian]

Just now, DeadEyePsycho said:

Most of the overall momentum is from Ethereum and the Ether microcrash on GDAX the other day has caused a loss in trust.

What's gdax exactly ? Sorry I'm really a newbie. 

[Edgar R. Zakarian]

Just now, manikyath said:

guessing it may be a bit of a scare after ethereum's flash crash a bit ago.

What happend? Can someone please explain ? And Why? 

[manikyath]

Just now, Edgar R. Zakarian said:

What happend? Can someone please explain ? And Why? 

essentially, what happened was a lot of people had a thing set to "sell if value goes below X"

 

then one guy sold a WHOLE bunch of ethereum, and it tanked down the value, because ethereum is still very low mass. resulting in all those automatic sell things triggering one after the other, completely sinking the cost down, and then it went back up again, and with people buying back (automagically?) the price essentially went back to where it was within margin, but it's made people kind of realise how volatile the "younger" currencies are.

[2FA]

Just now, Edgar R. Zakarian said:

What happend? Can someone please explain ? And Why? 

For a few minutes, the price of Ether went down as low as $0.10 on the GDAX exchange due to someone selling extremely low (like $13 I think) which caused anyone that had auto-sell on to sell everything they had to try minimize loss. (Auto-sell is a feature that will sell your assets automatically if the price goes below a certain point)

[Coaxialgamer]

The ethereum network is currently overloaded. That casts doubt on whether or not the tech is sustainable, thus reducing demand. 

[Edgar R. Zakarian]

What does this all mean? Will crypto prices for eth and LKK keep falling? should i sell my shares and get out`? about 700€

[Teddy07]

6 hours ago, Edgar R. Zakarian said:

What does this all mean? Will crypto prices for eth and LKK keep falling? should i sell my shares and get out`? about 700€

 

19 hours ago, Edgar R. Zakarian said:

What's gdax exactly ? Sorry I'm really a newbie. 

Are you serious?

Did you buy coins without understanding the market?  You seem to have a lot of cash to waste it this way. The market is way more open to influence from big players than trading on the stock market. It is a big gamble.