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0 pointsimron8y ago0 comments

Well, considering that this amount of ETH was worth double that 2 weeks ago, I don't put much faith in it being worth anywhere near that much if they tried to liquidate it immediately.

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trophycase8y ago

Eth has more than enough liquidity to handle this.

imronOP8y ago

So imagine that 6 months ago you decided to get in to the whole crypto currency thing and 'invested' $1,000 in ETH.

Back then the price was ~USD 10.

One month ago, you were pretty happy because the price was ~USD 395, which meant your $1,000 was now worth ~40,000.

Today however, at ~USD 173 your $40,000 is now only worth $17,300, much better than $1,000, but you're not as happy as you were one month ago when the price was only going up.

Then you see the news that this new ICO was hacked and someone's going to be looking to offload $6,000,000 in ETH.

How many speculators in a similar position to what I describe are going to have seen the price drop significantly in the last month, see that someone is also looking to offload a large number of ETH and think "it's been a good run, $17,300 is not bad, time to get out before it all comes crashing down"?

Does ETH have the liquidity to deal with a large number of speculators spooked at losing their 'investment'?

Maybe, maybe not. We'll know in a few weeks.

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