If you are one of the people who got liquidated, I feel really bad for your loss. It is truly painful... If you are using market stops for trading/investing, you should really look to have stop limits just in case you get fat finger orders/exchange DDOS issues(These crypto exchanges all seem to have too many bugs/issues too often).
For everyone else, this is the best opportunity(Black Swan Event) to get involved. These "rare" occurrences still seem to happen pretty frequently. Kraken's ETH crash to 40 dollars when it was 8X was the last example I can think of.
First you need money on hand. So always leave some cash on hand with the exchange so you are ready for rare opportunities.
Second you should keep that website/tab open just in case for fast use. Usually these crashes only happen when the servers are DDOS/glitching/laggy.
Third, it is always nice to keep a low buy limit on a coin ready just in case you get that surprise. But whenever it does happen, you should prob check how low the first wick went and throw new buy limits staggered higher than the last previous wick. 50% seems to be a fair area for 2nd wicks, but you can also try to throw more even lower in case you are VERY lucky...
Here's a picture of my actions today... I had gdax opened on a different tab. Once I saw the first wick down to .10 cents on ETH. I quickly threw some orders at 200, 150, 100, and A shit load at 60... I obviously didnt get the best I wanted, but I did scoop up a teeny bit at 200 and 150.
The outcome...
In hindsight I definitely panic sold too soon, I was hoping I could try it one more time at 225 and 200 USD prices again.
MOST IMPORTANT STEP IS A SHIT TON OF LUCK!!!
You just have to be able to position yourself to even have a chance of getting lucky... I just keep day dreaming of what could of happened if I did get filled on my 60 USD ETH bid...
Good luck and be careful out there.
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