1. 2014: Bitcoin’s Mt. Gox Incident

Event Overview:

  • Date: February 2014

  • Event: Mt.Gox, the world's largest Bitcoin exchange, suffered a hacker attack and lost nearly 850,000 Bitcoins, accounting for about 7% of the total number of Bitcoins in the world at that time.

  • Impact: This incident not only caused the price of Bitcoin to plummet by 80%, but also triggered a crisis of confidence in the cryptocurrency market. Mt.Gox subsequently filed for bankruptcy, causing huge financial losses to investors.

Subsequent development:

  • Although the Mt. Gox incident dealt a heavy blow to the cryptocurrency market, Bitcoin prices gradually recovered over time and achieved significant growth in the following years.

2. 2017: Market Bubble and the September 4 Incident

Event Overview:

  • Date: September 4, 2017

  • Event: Seven Chinese ministries and commissions jointly issued the "Announcement on Preventing Risks of Token Issuance and Financing", officially halting ICO (Initial Coin Offering) financing, and pointed out that it was suspected of illegal sale of token tickets, illegal issuance of securities, illegal fundraising, financial fraud, pyramid schemes and other illegal activities.

  • Impact: This policy caused a sharp drop in the price of Bitcoin. Many exchanges were forced to move overseas, and project owners began to withdraw coins. The cryptocurrency market experienced a sharp drop and panic.

Subsequent development:

  • Although the market was hit hard in the short term, the price of Bitcoin rose again after a brief adjustment and reached a record high at the end of the year.

3. 2020: Ethereum’s Black Friday

Event Overview:

  • Date: March 12, 2020

  • Event: Affected by the global epidemic outbreak and market panic, the prices of mainstream digital currencies such as Bitcoin and Ethereum have plummeted, and their market value has shrunk significantly.

  • Impact: This incident made investors realize the impermanence and uncertainty of the cryptocurrency market and prompted them to be more cautious about digital currency investment.

4. 2021: The May 19 collapse of the contract market

Event Overview:

  • Date: May 19, 2021

  • Event: The contract market suffered an unprecedented collapse, with 600,000 contracts liquidated overnight, causing countless investors to suffer huge losses.

  • Impact: This incident once again reminds people that the cryptocurrency world is full of risks and uncertainties, and investors need to remain cautious and rational.

5. 2022: Luna Black Swan and FTX Crash

Event Overview:

  • Time: 2022

  • Event: Luna and FTX, two major exchanges, collapsed one after another. Luna's collapse was due to the collapse of both the UST stablecoin and the LUNA token issued by Terraform Labs, the company behind it; while the collapse of FTX exchange was even more serious, not only causing heavy losses to a large number of investors, but also triggering a crisis of trust in the entire cryptocurrency market.

  • Impact: These two events had a profound impact on the entire cryptocurrency market, exacerbating market volatility and uncertainty.

Summarize:
These catastrophic events in the history of the cryptocurrency industry have not only brought heavy losses to investors, but also had a profound impact on the entire cryptocurrency market. They remind us of the impermanence and uncertainty of the cryptocurrency market and prompt us to be more cautious about digital currency investment. At the same time, these events have also promoted the improvement of the supervision and risk management mechanisms of the cryptocurrency market. As for when the next disaster will occur, we cannot accurately predict, but staying vigilant and investing rationally are important ways to deal with uncertainty.#美国6月非农数据高于预期 #德国政府转移比特币 #币安合约锦标赛 To learn more and get the latest information, click on the avatar 👉