Today’s price is rangebound between $341 and $360. Ethereum is visibly stabilizing, which is certainly good. In a bull market the sell offs can be sharp, but it is important that bulls take control again which they do buying the dip plus stabilizing the price right after. That is a recipe for higher prices.
Interestingly, as Ethereum’s price is stabilizing, mainstream media is still reporting “old news”. On Thursday, when the mini-crash was taking place, Coinbase, one of the leading cryptocurrency exchanges, confirmed that it was completely offline for several hours. Coinbase blamed “sustained heavy traffic” caused by intense Bitcoin and Ethereum trading. The point in this is that Fortune only reported about this on Friday night, after prices recovered.
The point is that things change so fast in cryptocurrency land that financial mainstream media is way too late with their Ethereum price news articles.
However, Forbes rightfully pointed out that it has become a frustration to blockchain enthusiasts that they see outages of major exchanges just at the time when extreme price swings make investors desperate to buy or sell. Arguably, it is investors that better define stop losses or limit orders, but that is totally different debate.