Reviewing History - Remembering 312 in the Cryptocurrency Circle
Today, let's review the 312 event in the cryptocurrencies circle and experience how terrible the crash in the cryptocurrencies circle was in the past.
312 in the cryptocurrencies circle refers to the crash on March 12, 2020, and the process of the crash.
1. March 8: BTC plummeted from $9,200 to $8,300, a drop of 9.8%, and ETH plummeted from $250 to $210, a drop of 16%.
Bitcoin fell by 10%, and most of the cottages were cut in half. Everyone thought that the decline was almost enough and would start to rebound, and most people entered the market to buy at the bottom.
2. March 9: BTC plummeted from $8,300 to $7,700, a drop of 7.2%, and ETH plummeted from $210 to $190, a drop of 9.5%.
I didn't expect it to fall sharply the next day. It has been falling for two days. Everyone thinks that it has fallen out of cost-effectiveness and there is no big risk, so continue to enter the market to buy at the bottom.
3. March 10 and March 11: As everyone wished, the price did not continue to plummet. It has been fluctuating for the past two days. Many people have been bullish and bought heavily.
4. March 12: BTC plummeted from $8,000 to $5,500, a drop of 31%, and ETH plummeted from $200 to $120, a drop of 40%.
You can imagine that Bitcoin fell 31% in one day, Ethereum fell 40% in one day, and how much the various copycats fell. There are coins that fell several times, and all virtual currencies were not spared. Thus, the 312 incident was born. On this day, a small number of people in the currency circle were still fantasizing about the bottom. Some people began to borrow money and take out loans to make a profit, but most people did not want to buy the bottom, and were even completely desperate. Everyone shouted that the currency circle was over and Bitcoin was going to return to zero.
5. March 13: Bitcoin rebounded to 6200 and then fell to 3800, a drop of 38.7%. ETH rebounded to 145 and then fell to 89, a drop of 38.6%.
More than 90% of the people in the currency circle have basically collapsed on this day. It may be a relief for those who do contracts. Whether you are long or short, all positions are blown up. Losing everything is relieved. Everyone is much more relaxed. It is finally over, everything is over.
In the battle of 312, I was fortunate to participate in the battle and took all the spot goods. In the end, I survived. If you play contracts in a certain year, and you still have high leverage, I believe that there is no place for you on the rooftop, because during the 312 period, both long and short positions were blown up, and hundreds of thousands of people were blown up every day. I emphasize again that you should not add leverage, even high leverage. If you operate 100 times and make 98 times, if you blow up twice, you may have nothing.
