That was not a dump!!! It was a trading error with Mintpal. Never has a dump gone down 40,000 sat in less than 5 minutes and then back up again in 1 minute.
Actually, I was watching cryptsy and the same happened, slightly off timewise.
Seems like the usual whale dump to cause a panic selling then immediately grabbing the cheap coins.
No it didn't. It went down to 83,000 and that was due to the "panic" on Mintpal. It did NOT go down to nearly 50,000 as it did on Mintpal.
I did saw 60,000 on cryptsy.
I changed 2 pairs of underwear
Damn, if you don't know the markets by now get out.. And let the pros in.. When a stock dumps, Its because someone with a hefty amount of coins wants to buy more before the price rises too high.. This creates a panic. perfect for the buyers. Its happens all the time on stock markets. But with a volatile market like cryptos its easier to make money on someone who is shit scared and over their head in it.. So don't invest more than you can afford to loose.
I haven't invested anything apart from electricity costs.same here... that same electricity got me 0.4 btc to buy blackcoins for, back at 1300... everytime a dump occured, i tried to profit from it... failing hard and losing around 50% of my holdings, today i decided to sit it out... and at the time this dump happened i simply knew how fast it would recover, although i didnt think we reach that high again ...
If nothing else can prove the skeptics wrong than the fast pace at which the coin recovers a dump like this.
