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 the cryptocurrency world. At that time, the world's largest Bitcoin exchange MTGOX was hacked, losing nearly 850,000 Bitcoins, which accounted for 7% of the world's total Bitcoin supply. This incident not only caused the price of Bitcoin to plummet by 80%, but also triggered a crisis of trust in the cryptocurrency market.
2. September 2017 9.4 Incident: Market Cap Evaporates 80%
In 2017, the cryptocurrency market experienced tremendous fluctuations, with the market cap evaporating by 80% in just a few days. Investors suffered massive losses in this crisis, but such experiences deepened the understanding of the complexity 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 incident highlighted the volatility and uncertainty of the cryptocurrency market; nonetheless, belief in the immense potential and value of cryptocurrencies remained steadfast.
4. May 19, 2021 Incident: 600,000 Contract Liquidations
This was a shocking event where 600,000 contracts were liquidated overnight, causing countless investors to suffer significant losses. This incident once again reminded us that the cryptocurrency market is rife 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) sector and having a profound impact on the market.
6. 2022 FTX Collapse Incident: Market Trust Crisis
The FTX collapse incident triggered a crisis of trust across 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 remain vigilant at all times. Amid the ongoing changes in this industry, we look forward to the opening of a new chapter.
