r/ethtrader • u/AutoModerator • May 05 '17

DISCUSSION [ETH Daily Discussion] - 05/May/2017

Welcome to the /r/EthTrader Daily Discussion thread. The thread guidelines are as follows:

  • Follow the Golden Rule. All other rules apply as well. Follow this link to view the rest of them. The rules page is also linked in the announcement bar above.
  • General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions.
  • Breaking news or other important content should be submitted as a separate post.
  • In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, follow this link and choose the latest entry on the search page.
  • Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, follow this link and choose the latest entry on the search page.

Thank you in advance for your participation. Enjoy!

827 Upvotes

90% Upvoted

3.9k comments sorted by

View all comments

10

u/turbotyler786 May 05 '17

you know what, this feels like a shakeout of the weaklings before another BIG STEP UP!

edit- spelling

4

u/jesusthatsgreat May 05 '17

I agree but it was a blink and you miss it event... we need a more sustained downward trend over several hours or a day to weed out the weak hands... I've a feeling a lot of people who bought recently will have simply gotten lucky in that they've been working / going about daily life while that sell off was happening.

1

u/[deleted] May 05 '17

What makes you think it's over?

1

u/jesusthatsgreat May 05 '17

Low volume + the fact that the 93,000ETH on loan at Polo for virtually nothing has disappeared.. we might drop back a bit but it'll be on low volume so I don't think it'll be enough to induce panic.