Six Major Black Swan Events in the Cryptocurrency World
1. February 2014 Mentougou Incident: Bitcoin Plummets 80%
In February 2014, the Mentougou incident was regarded as one of the most serious events in the history of cryptocurrency. At that time, the world's largest Bitcoin exchange, MTGOX, was hacked and lost nearly 850,000 bitcoins, accounting for 7% of the global total. This incident not only caused Bitcoin prices to plummet 80% but also triggered a crisis of trust in the cryptocurrency market.
2. September 2017 Incident 9.4: Market Value Evaporates 80%
In 2017, the cryptocurrency market experienced massive fluctuations, with market value evaporating by 80% within a few days. Investors suffered heavy losses in this crisis, but such experiences led to a deeper understanding of the complexities of the cryptocurrency market.
3. March 12, 2020 Incident: Ethereum Plummets to $80
On this heartbreaking day, the price of Ethereum plummeted below $80. This event highlighted the volatility and uncertainty of the cryptocurrency market; nonetheless, the belief in the tremendous potential and value of cryptocurrency remained steadfast.
4. May 19, 2021 Incident: 600,000 Contracts Liquidated
This was a shocking event where 600,000 contracts were liquidated overnight, causing countless investors to suffer significant losses. This incident reminded us once again that the cryptocurrency market is filled with risks and uncertainties.
5. 2022 Luna Black Swan Event: Crisis in the DeFi Sector
The Luna black swan event marked a significant turning point in the cryptocurrency market, triggering a major crisis in the decentralized finance (DeFi) space, which had far-reaching impacts on the market.
6. 2022 FTX Explosion Incident: Market Trust Crisis
The FTX explosion incident caused a crisis of trust in the entire cryptocurrency market, severely impacting the market. Although the market has been relatively friendly to us this year, these tragic events still serve as a wake-up call, reminding us to stay vigilant at all times. As the industry continues to evolve, we look forward to the opening of a new chapter.