Wow! I have seen Ethereum dropped by 30-45% before last month, but this is the first time I have seen it flash crashed down to $13.
Furthermore, it is another example of how volatile the cryptocurrency markets can be. The move was so bad that Coinbase has decided to disable trading of the ETH.
Apparently, the cause of the crash was created by Status poorly designed ICO. Status ICO clogged up the network yesterday with a huge number of high gas fee transactions.
Does that mean Ethereum will eventually head up back to it all time high or pull back even harder?
http://www.businessinsider.com/ethereum-price-flash-crash-2017-6
