Could someone explain what happened yesterday? Sharks simply broke the buyers line and bots started to sell low? Why would someone set a bot to sell at minimal levels like 8$ instead of 30$?
That is exactly what happened. If you ever played the market you know that there is always a chance for a swing. Sometimes people set a Stop Loss Order for a fraction of the price (knowing they will not be around if bad news breaks) and the trusty bot does the dirty work. So if they can salvage 1/2 of what they put in, it is still not a total loss.
As for why not 30$? These are NEW CRYPTOS in a volatile marketplace. If you look down the trade line you will see something that went up 35% on day 1 is now down 55% on day 2 then back up 40% on day 3. If you think you can set a SLO on that, then good luck holding onto anything for any length of time. Even BTC can drop 500$ in a day at 7k. I guess my point is, (I might catch some slack from people, but) *Nothing* in the Crypto World is a "Safe Bet".
Hope this explained what you were asking.
Yeah I bet they also say that the 7$ SLO was much better than 30$ -.- It didn't salvaged anything but burned 80% of their investment.