exchange glitch sudden drop in currency priceThe fluctuations in the rate of cryptocurrency is not a new phenomenon, and it happens due to various reasons.
Recently on the Binance platform the cryptocurrency price has fallen down unexpectedly and it touched the deadline, however, after some time, it returned back to its previous value.
It was analyzed that the sudden downfall was due to flash memory loss when an unknown person sold 506,000 waves instantly and therefore the value of the coin has been dropped from 0.000508 BTC ($2.64) to 0.0000001 BTC ($0.00052).
Advantage of depreciation of coins:
The depreciation in the coin is the best opportunity for the people to buy the coins. Many people were not aware of this depreciation and therefore they had missed this golden opportunity of getting the maximum benefit from it as it was just for a few seconds.
It was expected that one could get almost 5200% return on investment if the traders placed the orders at that time. Many people posted on twitter about this incident as evident from Emptybeerbottle tweet where he recommended that buying the coins when they are low in price is a good idea.
Why keeping some stupidly low buy orders on coins is a good idea. https://t.co/eNuBNfjQLh
— Empty (@Fullbeerbottle) April 17, 2019
Past incidents of sudden crash of digital money exchange:
Similar incidents have occurred in the past too. In 2017, the sudden crash of digital money exchange was observed when a person spontaneously sold 35,000 ETH.
https://twitter.com/DisruptVegas/status/1062747576561152000
The Ethereum coin at that time was trading at a price of $320 has fallen down to $0.10 in seconds due to this selling and made many people millionaire instantly.
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