Every black swan event in the history of the cryptocurrency industry swept in like a storm, catching people off guard.
1. The Mentougou incident in 2014: This incident is a nightmare in the history of the cryptocurrency industry. The world's largest Bitcoin exchange Mt.Gox (Mentougou) collapsed due to a hacker attack, and nearly 850,000 Bitcoins disappeared out of thin air, accounting for 7% of the total number of Bitcoins in the world. As a result, the price of Bitcoin plummeted by 80%, countless investors lost all their money, and the cryptocurrency industry instantly fell into a wailing.
2. The September 4th incident in 2017: The Chinese government suddenly took action and completely banned ICO (initial coin offering) and Bitcoin transactions, causing the entire cryptocurrency market value to evaporate by 80% in an instant. Countless investors were forced to leave, and the cryptocurrency industry was bleak.
3. The plunge on March 12, 2020: On this day, the price of Bitcoin plummeted like a roller coaster, from nearly $8,000 to $3,800, and Ethereum fell to $80. Panic spread in the market, and countless investors suffered heavy losses.
4. Liquidation on May 19, 2021: On this day, the cryptocurrency market suffered an unprecedented blow. More than 600,000 contracts were liquidated in an instant, and countless people lost their fortunes overnight. The cruel reality of the cryptocurrency circle was once again bloodily displayed to the world.
5. The Luna black swan incident and the FTX thunderstorm incident in 2022: These two incidents are like two blockbuster bombs that blew the cryptocurrency market to pieces. The price of Luna tokens fell from the peak to the bottom and finally returned to zero; and the thunderstorm of the FTX exchange triggered a crisis of trust in the entire industry. Countless investors suffered heavy losses in this storm, and the cryptocurrency circle fell into chaos again.
These black swan events not only brought huge losses to investors, but also exposed the fragility and uncertainty of the cryptocurrency market. However, it is these experiences that make us more aware of the risks and importance of investment. On the road of future investment, we must always be vigilant and act cautiously.
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