Someone's dropping 18M of ETH

[Blackout1321]

On Poloniex.

Discussion on what's going to happen to the price?

Price
0.11400000   

ETH
60232.36541076

BTC Value
6866.48965683   

[1713932103]

1713932103

[1713932103]

1713932103

[btbrae]

Arrr a bagholder it be.

[mdkb]

On Poloniex.

Discussion on what's going to happen to the price?

Price
0.11400000   

ETH
60232.36541076

BTC Value
6866.48965683   

lol the price was flatlining at 0.114
but it only took 3 hours then buyers chewed through the lot and it surged upwards in the last 30 mins.
classic.
no stopping Eth. the flippening is clearly still happening. ICO fever working like the gold rush era

EDIT:
not sure that they left the 18M in though, as volume of Eth in the 2 hour period is only about 31K from what I can see , they must have pulled it out after 2 hours. could this be whales fighting?

[rmyg5907]

more ICO project release will raise the price to the moon
if the profit of ICO down,market bubble will coming!

[Mr.Joshua]

There's no way I would trust all of that at once in an online exchange.

[mdkb]

more ICO project release will raise the price to the moon
if the profit of ICO down,market bubble will coming!

yea a lot of Bitcoin 'fanboys' who dont like Eth say the same thing. the ICO bubble will pop and then ETH will drop.
they just fear the flippening. besides, Bitcoin shouldnt still be going up given the speed/fee drama it is facing right now, but it is still going up.

and in fairness if you can pick a good business model behind a good ICO and coin, then why would it not be a success?
traditional stock trading has been working this way just fine for many years with IPO launches.

[Pursuer]

it depends who the person owning that 18 million ETH tokens is!
- an imaginary person: obviously no effect
- a whale who is not connected to ethereum foundation and Vitalik: price can take a hit but those guys have a lot more money to put up buy walls that one whale can do nothing.
- the ethereum foundation and Vitalik themselves: price will tank hard and there is nothing stopping it because the only one that was preventing crashes so far with their fake-whaly-buy-walls are selling themselves now.

so figure out who the whale is and you get your answer.

[mdkb]

it depends who the person owning that 18 million ETH tokens is!
- an imaginary person: obviously no effect
- a whale who is not connected to ethereum foundation and Vitalik: price can take a hit but those guys have a lot more money to put up buy walls that one whale can do nothing.
- the ethereum foundation and Vitalik themselves: price will tank hard and there is nothing stopping it because the only one that was preventing crashes so far with their fake-whaly-buy-walls are selling themselves now.

so figure out who the whale is and you get your answer.

its also possible that the 18M wall didnt have the desired effect of sending the price moving downwards.

if you look at the Polo 24hr chart set to 30 min for 12th June, you can see price flat-lined against the wall, but pressure was clearly on the upside and increasing, so it would have chewed through the wall eventually and the whale would have then had no Eth left. it was hardly bouncing down from it at all, but rather increased. so... possibly they pulled it out because it didnt have the desired effect, or even that another whale started pounding into the 18M wall in response. battle of the titans, we are just pawns in their game.

market depth also shows a lot more buyers weight than sellers. Eth is motoring right now.

[Piston Honda]

now is ETH exit time ppl.............................

[Teraboy]

I can't see it. But too many people are fomo in ethereum. The more bitcoin fan will take a look on the thereum to be his potential portfolio. There is no bubble in ethereum this just about people are realized it as good place.

[HTGduck]

There's no way I would trust all of that at once in an online exchange.

Yeah, absolutely not.

[gedor]

Eth is in the big bubble. Its price will burst to $200 wait and see

[investFeed]

Ethereum definitely has legs to run. I don't see a bubble at all, perhaps a correction with some profit taking, but long term a HOLD. (and great investment)

[Haladay]

I was looking into the sell and buy walls in the Exchange and you're right. A bag holder could have dropped its ethers in order to make profit realization, I think.

[riskthebiscuit]

Geez, so much $$$  . I would not feel comfortable having that much on polo, but hey I am not a baller shot caller like this fella