Bitcoin drops over $500 in 2 hours, All Alt coins bleeding, Eth down $60+, Coinbase goes down

Currently bitcoin has dropped $600+ in the last 2 hours(going as low as $2060 a coin from $2700) and EVERY SINGLE ALT is down in the top 30.

Eth is down over $60 aswell.

Coinbase has "crashed" when the insane drop happened(polo 2.0, their as dirty as polo in my eyes now).

Thoughts?

p.s- time to buy is now.

 

I was on gdax when the site went down for about 20 minutes after ETH crashed to around $160. When the site was back up, you could see that trading resumed at around $170+ which was odd to me because the graphs showed clear prices gaps during that downtime. Seems it is profitable for exchanges to claim "DDoS" or "unusually high traffic" potentially scooping up cheap coins off the order books themselves seeing as polo, kraken, and now gdax have all had the same experiences lately. I guess there is no way to definitively prove that though.

 

Shame, but such a sharp rise was going to correct eventually. Buying at all time highs is risky any time you do it :/

I have no doubts their servers are under a lot of traffic, but I agree it seems suspicious they go down when coins go down, not up

 

I wasn't buying. Most of my ETH was bought sub $50. I just watch multiple exchanges at once to see price action. I only play around with a few k on exchanges, the rest is on my nano s for the long term. Regardless, prices have nearly recovered and I still stand by my target of $250+. Just a matter of time.

 

The way I see it, its healthier for crypto in the long run to have a massive correction like this, perfect parabolic growth is just non sustainable.

 

It's just a correction, unless you bought in very recently due to hype you shouldn't be worried. I've been holding onto my BTC stash for the past year and I've seen multiple rises and falls, but no matter what I've kept holding and now my BTC is worth 6-8x of what it was originally valued at.

 

Back up to $2448.27 I want it to pass $3000 !!!

 

It'll correct itself and rise even higher.
The coinbase outages really messed me up though.

 

its fucked now lol

 

I bought 3 ETH sub-$50 as well. I can ride the waves