Six Major Black Swan Events in the Cryptocurrency World
1. February 2014 Mentougou Incident
In February 2014, the Mentougou incident shocked the cryptocurrency world, becoming one of the most serious events in history. At that time, the world's largest Bitcoin exchange, MTGOX, suffered a hacker attack, losing nearly 850,000 Bitcoins, accounting for 7% of the global total. This severe blow caused Bitcoin prices to plummet by 80%, triggering a crisis of trust in the cryptocurrency market.
2. September 4, 2017 Incident
In 2017, the cryptocurrency market experienced massive fluctuations, with a market value evaporating by 80% in just a few days. Investors suffered heavy losses, but this experience also led to a deeper understanding of the market's complexity.
3. March 12, 2020 Incident
On March 12, 2020, the price of Ether plummeted below $80, which was heartbreaking. This incident exposed the volatility and uncertainty of the cryptocurrency market, yet investors' faith in cryptocurrencies remained steadfast.
4. May 19, 2021 Incident
On May 19, 2021, 600,000 contract investors faced liquidation overnight, with countless investors suffering huge losses. This incident again warned us that the cryptocurrency market is full of risks and uncertainties.
5. 2022 Luna Black Swan Incident
The Luna Black Swan incident became a significant turning point in the cryptocurrency market, triggering a crisis in the decentralized finance (DeFi) sector, which had a profound impact on the market.
6. 2022 FTX Collapse Incident
The FTX collapse incident triggered a crisis of trust throughout the cryptocurrency market, severely impacting the market.
Although this year the market is relatively friendly, these events still serve as a wake-up call, reminding us to remain vigilant. In this ever-changing industry, we look forward to the opening of a new chapter.
However, every time after a collapse, there is a new beginning, a new height, and this year Bitcoin has already surpassed $100,000! Everything has come back!
Recently, the concept of a little dog on the Ethereum chain, puppies, may be the next SHIB with great opportunities for explosive growth in the future!