Black swan events in the history of the currency circle, each one swept in like a storm, catching people off guard. The following is an overview of these events:
1. Mentougou incident in 2014
Event description: Mt.Gox (Mentougou), the world's largest Bitcoin exchange, collapsed due to a hacker attack, and nearly 850,000 Bitcoins disappeared out of thin air, accounting for 7% of the total number of Bitcoins in the world. Impact: Bitcoin prices plummeted 80%, countless investors lost their money, and the currency circle instantly fell into a wailing.
2. September 4, 2017 incident
Event description: The Chinese government suddenly took action and completely banned ICO (initial coin offering) and Bitcoin transactions. Impact: The entire currency circle's market value evaporated by 80% in an instant, countless investors were forced to leave, and the currency circle was bleak.
3. The plunge on March 12, 2020
Description of the event: The price of Bitcoin plummeted like a roller coaster on this day, from nearly $8,000 to $3,800, and Ethereum fell to $80. Impact: Panic spread in the market, and countless investors suffered heavy losses.
4. Liquidation on May 19, 2021
Description of the event: The cryptocurrency market suffered an unprecedented blow on this day, and more than 600,000 contracts were liquidated instantly. Impact: Countless people lost their fortunes overnight, and the cruel reality of the currency circle was once again bloody and exposed to the world.
5. The Luna Black Swan Event and FTX Thunderbolt Event in 2022
Description of the event: The price of Luna tokens fell from the peak to the bottom and eventually returned to zero; and the thunderbolt of the FTX exchange triggered a crisis of trust in the entire industry. Impact: Countless investors suffered heavy losses in this storm, and the currency circle fell into chaos again.
These black swan events not only brought huge losses to investors, but also exposed the fragility and uncertainty of the cryptocurrency market. However, it is these experiences that make us more aware of the risks and importance of investment. On the road of future investment, we must always be vigilant and act cautiously.
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