Review of the six shocking black swan events in the cryptocurrency world

1. 2014 MT.Gox catastrophe: Bitcoin price collapse

Back in the early spring of 2014, the collapse of the MT.Gox exchange undoubtedly sent a shock wave through the cryptocurrency world. The hacker attack caused nearly 850,000 bitcoins to disappear, a number that was equivalent to a huge share of the total global bitcoin supply at the time, directly triggering a nearly 80% plunge in bitcoin prices. This incident not only dealt a heavy blow to market confidence, but also made the cryptocurrency world face the harsh test of a trust crisis for the first time.

2. September 2017 Storm: Market Value Evaporated Overnight

Fast forward to 2017, when the cryptocurrency market was at its peak, it was suddenly hit by the September storm. In just a few days, the total market value evaporated by an astonishing 80%, and countless investors' dreams of wealth were shattered. This sudden cold winter, although cruel, also profoundly educated market participants and revealed the extreme volatility and high-risk characteristics of the cryptocurrency market.

3. Black Thursday, March 12, 2020: Ethereum’s Darkest Moment

In the spring of 2020, March 12th became an unforgettable painful day for Ethereum and its believers. The price of Ethereum suddenly fell to below $80, and the market was in mourning. However, it was this trough that also inspired people to re-examine and strengthen their belief in the intrinsic value and potential of cryptocurrencies.

IV. The Night of Terror on May 19, 2021: The Contract Market Was Shocked

Entering 2021, the cryptocurrency market is still volatile. On May 19, a sudden storm swept the contract market, causing 600,000 contracts to be liquidated instantly, and countless investors suffered heavy losses. This incident once again highlighted the high leverage risk and extreme volatility of the cryptocurrency market, and sounded the alarm for market participants.

5. Luna Storm 2022: A Tsunami in the DeFi Field

Entering 2022, the Luna Black Swan incident is like a sudden tsunami, impacting every corner of decentralized finance (DeFi). This crisis not only exposed the fragility of the DeFi field, but also had a profound impact on the entire cryptocurrency market, accelerating the reshuffle and reconstruction of the industry.

6. FTX Collapse: The Trust Crisis Escalates Again

In the same year, the collapse of FTX exchange pushed the trust crisis in the cryptocurrency market to a new climax. This incident not only caused many investors to lose all their money, but also plunged the entire market into deep panic and reflection. It once again reminds us that even in this field that seems to be full of infinite possibilities, risks and uncertainties are always there.

Review of the six shocking black swan events in the cryptocurrency world

1. 2014 MT.Gox catastrophe: Bitcoin price collapse

Back in the early spring of 2014, the collapse of the MT.Gox exchange undoubtedly sent a shock wave through the cryptocurrency world. The hacker attack caused nearly 850,000 bitcoins to disappear, a number that was equivalent to a huge share of the total global bitcoin supply at the time, directly triggering a nearly 80% plunge in bitcoin prices. This incident not only dealt a heavy blow to market confidence, but also made the cryptocurrency world face the harsh test of a trust crisis for the first time.

2. September 2017 Storm: Market Value Evaporated Overnight

Fast forward to 2017, when the cryptocurrency market was at its peak, it was suddenly hit by the September storm. In just a few days, the total market value evaporated by an astonishing 80%, and countless investors' dreams of wealth were shattered. This sudden cold winter, although cruel, also profoundly educated market participants and revealed the extreme volatility and high-risk characteristics of the cryptocurrency market.

3. Black Thursday, March 12, 2020: Ethereum’s Darkest Moment

In the spring of 2020, March 12th became an unforgettable painful day for Ethereum and its believers. The price of Ethereum suddenly fell to below $80, and the market was in mourning. However, it was this trough that also inspired people to re-examine and strengthen their belief in the intrinsic value and potential of cryptocurrencies.

IV. The Night of Terror on May 19, 2021: The Contract Market Was Shocked

Entering 2021, the cryptocurrency market is still volatile. On May 19, a sudden storm swept the contract market, causing 600,000 contracts to be liquidated instantly, and countless investors suffered heavy losses. This incident once again highlighted the high leverage risk and extreme volatility of the cryptocurrency market, and sounded the alarm for market participants.

5. Luna Storm 2022: A Tsunami in the DeFi Field

Entering 2022, the Luna Black Swan incident is like a sudden tsunami, impacting every corner of decentralized finance (DeFi). This crisis not only exposed the fragility of the DeFi field, but also had a profound impact on the entire cryptocurrency market, accelerating the reshuffle and reconstruction of the industry.

6. FTX Collapse: The Trust Crisis Escalates Again

In the same year, the collapse of FTX exchange pushed the trust crisis in the cryptocurrency market to a new climax. This incident not only caused many investors to lose all their money, but also plunged the entire market into deep panic and reflection. It once again reminds us that even in this field that seems to be full of infinite possibilities, risks and uncertainties are always there.