The biggest black swan event in the cryptocurrency circle

The biggest black swan event in the history of the cryptocurrency circle occurred in March 2020, an astonishing moment that caused 90% of people to blow up their positions. In this magnificent story, the sharp fluctuations in the prices of ETH and BTC triggered a series of chain reactions, causing the entire market to fall into chaos and panic.

On March 8, 2020, the price of ETH suddenly fell from $250 to $210, a drop of 17%, and BTC also fell from $9,200 to $8,300, a drop of 10%. Although the market had shown signs of a rebound, it suddenly ushered in another round of decline, making people anxious.

Immediately on March 9, 2020, the U.S. stock market announced its first circuit breaker, and the market suffered another sharp drop. ETH fell from $210 to $190, a drop of 10%, and BTC fell from $8,400 to $7,700, a drop of 8%. The two-day plunge made the shorts jubilant, and most of the shorts have closed their positions.

From March 10 to 11, the market entered a sideways consolidation phase. After two consecutive days of plummeting, many people began to feel that the risk was over, and some even began to open long positions.

However, March 12, 2020 became the day when the market plummeted. The price of ETH plummeted from the bull market high of $1,500 to $150. Many people were anxious on this day, and some even went all-in to buy. Most people thought this was a great opportunity and started to buy, and even the short camp followed the group leader to join the bottom-fishing.

However, a super big crash occurred that night. Due to the outbreak of the epidemic, the US stock market ushered in the second circuit breaker, causing ETH to plummet from $190 to $120 that day, a drop of 37%, and BTC to fall from $8,000 to $5,500, a drop of 31%. Many people were heartbroken, seeing their funds being swallowed up by the market, and the currency circle was in a state of panic.

At this moment, most people felt desperate, thinking that the currency circle was finished and the market would never pick up again. However, at this time, some people who still believed in the cryptocurrency circle began to buy at the bottom, while some people whose funds had not been completely swallowed up began to look for opportunities with difficulty.

But the story did not end there. On March 13, 2020, the market was in turmoil again. The price of ETH plummeted from $145 to $87, and BTC fell from $6,230 to $3,790. The market once again ushered in an astonishing plunge of nearly 50%.The altcoins have been in a downward trend, with an alarming drop.

At this moment, some people laughed, fortunately they were liquidated early, while some people were struggling in the turbulent market. This "black swan event" in the history of the currency circle has made people reflect on their mistakes and filled people with infinite doubts and uncertainties about the future of the market.

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