A Review of Six Major Black Swan Events Experienced by Veterans in the Cryptocurrency Space:
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 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 cap evaporating by 80% in just a few days. Investors suffered heavy losses, deepening the understanding of the complexity of the cryptocurrency market.
3. March 12, 2020 Incident.
The price of Ether fell below $80, revealing the volatility and uncertainty of the cryptocurrency market, yet belief in its potential and value remained steadfast.
4. May 19, 2021 Incident.
600,000 contract positions were liquidated overnight, resulting in huge losses for many investors, once again reminding us of the high risks and uncertainties in the cryptocurrency market.
5. 2022 Luna Black Swan Event.
Triggered a major crisis in the decentralized finance (DeFi) sector, marking a significant turning point in the cryptocurrency market with far-reaching effects.
6. 2022 FTX Collapse Incident.
Led to a crisis of confidence across the entire cryptocurrency market, causing severe damage. Although the market has been relatively friendly this year, these tragic events still serve as a wake-up call to remain vigilant. Amidst industry changes, we look forward to a new chapter unfolding.
