Counting the six major black swan events in the crypto market, have you experienced the waves?
Mentougou tragedy in February 2014: The Bitcoin market suffered a heavy blow, the price plummeted to 20% of the original price, and the market was volatile.
The "9.4 Storm" in 2017: The entire cryptocurrency market experienced a drastic reshuffle, the market value evaporated by 80% in an instant, and investors were panicked.
The "3.12 Crash Day" in 2020: Ethereum also could not escape the bad luck, the price plummeted to around US$80, and market confidence suffered a heavy blow.
The "5.19 Contract Tragedy" in 2021: The huge liquidation of up to 600,000 contracts once again sounded the alarm for the market, and risks are everywhere.
The Luna Black Swan in 2022: The DeFi field encountered a crisis of trust, the Luna incident became the focus of the industry, and the market was turbulent.
The FTX explosion in the same year: it pushed market trust to the forefront, and the stability of the cryptocurrency market was unprecedentedly questioned.
As of today, the total market value of the cryptocurrency market has slipped to $1.95 trillion, far below its peak of $2 trillion. Bitcoin has recorded its largest weekly decline since the collapse of FTX, and its annual increase has narrowed to about 34%. Ethereum (ETH) has also experienced its biggest drop since 2021, almost wiping out all its growth for the year. In this eventful time, talking about bottom-fishing may require more caution and observation.#TheFed's interest rate cut trend is a mystery#TheUS CPI data has fallen for four consecutive times, and the market is waiting for a new trend.