Everyone has heard about the 94 incident in the cryptocurrency circle, and everyone knows that the market fell very sharply on 94, but in fact the most severe event was 915. 915 was the final blow of 94, and with just this one blow, countless people lost their fortunes once again!

The "915 Incident" in the cryptocurrency world was actually a more violent shock than the "94 Incident" and was devastating to many people.

Let me review the whole story of this incident from the perspective of an eyewitness.

On September 4, 2017, seven Chinese ministries jointly issued a notice, explicitly prohibiting any token issuance and financing activities, and requiring all ICO token trading platforms to clean up and close transactions before the end of the month. The news caused chaos in the altcoin market. Many altcoins began to plummet, some even fell to zero, and some altcoin exchanges chose to close directly.

Although ICO was banned, the mainstream digital currency exchanges at that time (such as BTCC, OKCoin, and Huobi) were not greatly affected. They were still in operation, and only a few digital currencies, such as Bitcoin, Litecoin, Ethereum, etc., were tradable. This gave people a glimmer of hope that the market still had the possibility of recovery.

However, everything changed drastically on September 14. Bitcoin suddenly began to plummet, and rumors spread in the community that the Chinese government was preparing to clear out all Bitcoin exchanges, including the so-called "three major exchanges". The price of Bitcoin fell from $3,900 to $3,200, a drop of 17%.

On the afternoon of September 15, Beijing's Internet finance regulation team interviewed the heads of major virtual currency platforms and asked them to issue an announcement to clearly stop all virtual currency transactions and formulate a liquidation plan. After the announcement came out, investors went crazy and sold their digital currencies one after another, fearing that they would sell too late. The heads of major exchanges also held an emergency meeting to discuss the situation, and the results unanimously predicted that the situation was very bad.

The prices of Bitcoin and Litecoin began to plummet until 9 p.m., when an announcement was released: all digital asset trading businesses would be phased out before October 31. However, the result was unexpected. Instead of continuing to fall, all virtual currencies skyrocketed. Bitcoin soared from $2,950 to $3,700, and Litecoin almost doubled.

The reason for all this is that after the 915 incident, everyone had sold most of their digital currencies, and some even went short. As they could not deposit funds to buy more, the supply of digital currencies in the market suddenly became tight, and a wave of panic buying appeared in the market. Since everyone had no more coins, the remaining digital currencies became extremely popular, and some even had a premium of 20% or even 30%. The real bull market began from this day.
Litecoin almost doubled
The investors were confused. It was obviously a huge negative news. They had already withdrawn all their coins and even shorted them. Why did this happen suddenly?
After 915, since everyone had sold all the coins in the market and withdrawn them, and could not deposit money to buy again, the remaining coins in the market suddenly became hot commodities, and many people could not buy them even at a premium of 20% or even 30%.
Because everyone has no coins in their hands, the real bull market has just begun!
It was also from this day that the tenfold growth of Bitcoin and the hundredfold growth of altcoins gradually emerged.
But only a few people actually make money because of the bull market!
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