Cryptocurrency's Six Major Black Swan Events

1. February 2014 Mentougou Incident: Bitcoin Plummets 80%

In February 2014, the Mentougou incident was regarded as one of the most severe events in cryptocurrency history. 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. This incident not only caused the price of Bitcoin to plummet by 80%, but also triggered a crisis of trust in the cryptocurrency market.

2. September 2017 9.4 Incident: Market Capitalization Vaporizes 80%

In 2017, the cryptocurrency market experienced tremendous volatility, with market capitalization vaporizing 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. March 12, 2020 Incident: Ethereum Plummets to $80

On this heartbreaking day, the price of Ethereum plummeted to below $80. This incident showcased the volatility and uncertainty of the cryptocurrency market; nonetheless, the belief in the immense potential and value of cryptocurrencies remained steadfast.

4. May 19, 2021 Incident: 600,000 Contract Liquidations

This was a shocking event where 600,000 contracts were liquidated overnight, causing countless investors to suffer significant losses. This incident reminded us once again that the cryptocurrency market is fraught with risks and uncertainties.

5. Luna Black Swan Incident in 2022: DFI Sector Crisis

The Luna Black Swan incident marked a major turning point in the cryptocurrency market, triggering a significant crisis in the decentralized finance (DFI) sector and having far-reaching impacts on the market.

6. FTX Explosion Incident in 2022: Market Trust Crisis

The FTX explosion incident triggered a trust crisis across the entire cryptocurrency market, severely impacting the market. Although the market has been relatively friendly to us this year, these tragic events still serve as a wake-up call, reminding us to remain vigilant at all times. Amid the continuous changes in this industry, we look forward to the opening of a new chapter.