Ashdraked is a term used to describe an event that occurs in the cryptocurrency market. It refers to a situation where the price of a coin or token suddenly drops drastically, often due to large sell orders from one or more investors who have decided to exit their position quickly. The term was first coined by traders on Reddit in 2017 and has since become popular among crypto enthusiasts and professionals alike.
In most cases, Ashdraking is caused by panic selling or rumor-mongering about certain projects or tokens which causes people to cash out quickly before prices start plummeting further. This can lead to drastic price drops within minutes as everyone rushes for the exits simultaneously, resulting in large losses for those still holding onto their coins at that point in time.
It’s important for cryptocurrency investors and traders to be aware of this phenomenon as it can cause huge losses if they are not prepared ahead of time with proper risk management strategies such as stop loss orders, portfolio diversification, etc. Additionally, being able to recognize when an Ashdrake might occur can also provide opportunities for savvy traders looking to capitalize on short-term dips in pricing caused by widespread fear and uncertainty amongst the investor community.
