Six Major Black Swan Events in the Cryptocurrency World
1. The February 2014 Mentougou Incident: Bitcoin Plummeted by 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 seven percent of the total Bitcoin supply globally. This event not only caused the price of Bitcoin to plummet by 80% but also triggered a crisis of trust in the cryptocurrency market.
2. The September 4, 2017 Incident: Market Value Eroded by 80%
In 2017, the cryptocurrency market experienced massive fluctuations, with market value evaporating by 80% in just a few days. Investors suffered heavy losses during this crisis, but such experiences deepened the understanding of the complexities of the cryptocurrency market.
3. The March 12, 2020 Incident: Ethereum Plummeted to $80
On this heartbreaking day, the price of Ethereum crashed below $80. This event showcased the volatility and uncertainty of the cryptocurrency market; nevertheless, the belief in the immense potential and value of cryptocurrencies remained steadfast.
4. The 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 once again reminded us that the cryptocurrency market is fraught with risks and uncertainties.
5. The 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, which had far-reaching effects on the market.
6. The 2022 FTX Collapse Incident: Crisis of Trust in the Market
The FTX collapse incident triggered a crisis of trust throughout the cryptocurrency market, severely impacting the market. Although the market has been relatively friendly to us this year, these tragic events have sounded the alarm, reminding us to remain vigilant at all times. As the industry continues to evolve, we look forward to the opening of new chapters.
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