Six Major Black Swan Events Overview
1. February 2014 Mentougou Incident.
The world's largest Bitcoin exchange MTGOX was hacked, losing nearly 850,000 Bitcoins, accounting for 7% of the total global Bitcoin supply. This event caused Bitcoin to plummet by 80%, triggering a crisis of confidence in the cryptocurrency market.
2. September 4, 2017 Incident.
The cryptocurrency market experienced massive fluctuations, with a market value evaporation of 80% in just a few days. Investors suffered heavy losses and gained a deeper understanding of the complexity of the cryptocurrency market.
3. March 12, 2020 Incident.
The price of Ethereum dropped below $80, showcasing the volatility and uncertainty of the cryptocurrency market, yet faith in its potential and value remained strong.
4. May 19, 2021 Incident.
600,000 contract liquidations occurred overnight, resulting in huge losses for many investors, again reminding us of the high risks and uncertainties in the cryptocurrency market.
5. 2022 Luna Black Swan Incident.
Triggered a major crisis in the decentralized finance (DeFi) sector, becoming a significant turning point in the cryptocurrency market with far-reaching impacts.
6. 2022 FTX Collapse Incident.
Led to a crisis of confidence in the entire cryptocurrency market, which suffered a severe blow. Although the market has been relatively friendly this year, these tragic events still serve as a warning, and we must remain vigilant. As the industry undergoes changes, we look forward to the opening of a new chapter.
