Six Major Black Swan Events in the Cryptocurrency World
1. February 2014 Mentougou Incident
In February 2014, the world's largest Bitcoin exchange MT.GOX was hacked, resulting in the loss of approximately 850,000 Bitcoins, accounting for 7% of the global total. This event caused the price of Bitcoin to plummet by 80%, triggering a crisis of trust in the cryptocurrency market and becoming one of the most serious black swan events in history.
2. September 4, 2017 Incident
In 2017, the cryptocurrency market experienced severe fluctuations, with a market capitalization evaporating by 80% within a few days, leading to significant losses for investors. However, this deepened people's understanding of the complexities of the market.
3. March 12, 2020 Incident
On March 12, 2020, the price of Ether plummeted to below $80, highlighting the volatility and uncertainty of the cryptocurrency market. Nevertheless, investor confidence remained strong.
4. May 19, 2021 Incident
On May 19, 2021, 600,000 contract investors faced liquidation overnight, suffering heavy losses. This incident again reminded us of the risks inherent in the cryptocurrency market.
5. 2022 Luna Incident
The Luna incident became a significant turning point in the cryptocurrency market, triggering a crisis in the decentralized finance (DeFi) sector and having a far-reaching impact on the market.
6. 2022 FTX Collapse Incident
The FTX collapse incident severely impacted the cryptocurrency market, triggering a crisis of trust. Although the current market environment has improved, these events still warn us to remain vigilant.
In this rapidly changing industry, we look forward to new chapters. Every crisis marks a new beginning and new opportunities. This year, Bitcoin has surpassed the $100,000 mark, and the market is gradually returning to normal.
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