Six Major Black Swan Events in the Cryptocurrency World 🔥🔥🔥
1. February 2014: Mt. Gox Incident, Bitcoin Plummets 80%
The world's largest Bitcoin exchange, Mt. Gox, was hacked, with 850,000 Bitcoins stolen, accounting for 7% of the total global Bitcoin supply. This event severely impacted the market, causing Bitcoin prices to drop 80%, becoming the largest trust crisis in the early cryptocurrency space.
2. September 2017: 9.4 Incident, Market Value Vaporizes 80%
The Chinese government cracked down on ICOs (Initial Coin Offerings) and cryptocurrency trading, leading to a market evaporation of over 80% in a short period. This regulatory crackdown prompted a global reflection on cryptocurrency regulation.
3. March 2020: Black Thursday, Ethereum Drops to $80
The global financial panic triggered by the COVID-19 pandemic affected the cryptocurrency market, causing a complete collapse of Bitcoin, Ethereum, and other cryptocurrencies. Ethereum's price plummeted to $80, highlighting the market's fragility and reminding investors to manage risks.
4. May 2021: 600,000 Contracts Liquidated
Bitcoin fell to $30,000 in a short period, causing 600,000 contract traders to be liquidated, resulting in billions of dollars in losses. This event warned people about the cautious use of leveraged trading.
5. 2022: Luna Collapse, DeFi Crisis
The collapse of the Terra ecosystem led to Luna's price dropping to zero, and the UST stablecoin decoupling, resulting in a significant decline in trust in the decentralized finance (DeFi) sector, marking a major crisis in DeFi.
6. 2022: FTX Collapse, Trust Crisis
As one of the largest exchanges globally, the collapse of FTX triggered a trust crisis in the cryptocurrency world, with billions of dollars evaporating, leading to the coldest "crypto winter" in the market.
Connection to Puppies: Turning to Robust Hope
In the face of repeated black swan events, many people recognized the risks brought by high leverage and de-risking. The robust mechanism created by Puppies (PUPP) may be a direction for long-term investors seeking safety and stability:
1. Community governance, high transparency, avoiding the risk of centralized collapse.
2. Stable growth, focusing on value consensus rather than speculation and hype.
Looking back at the history of the cryptocurrency world, while black swan events frequently occur, each crisis also nurtures new life and hope. The steady development of the Puppies project may bring more confidence to the market.
