In the crypto space, every surge and drop pulls at the hearts of countless investors. Among them, the 'black swan' events are particularly terrifying, lurking like hidden currents beneath the calm surface, ready to unleash monstrous waves once they erupt. Today, let's revisit the six astonishing 'black swan' events in crypto history and see how those who once prided themselves as bulls faltered in the face of these events!
01. Mentougou Incident: 850,000 Bitcoins Evaporated, Bulls' Faith Collapsed!
In February 2014, an unprecedented hacker attack swept through the world's largest Bitcoin exchange MTGOX, causing 850,000 Bitcoins to vanish as if they never existed, accounting for 7% of the global total! This incident was like a thunderclap out of nowhere, not only triggering an 80% plummet in Bitcoin prices but also plunging the entire crypto market into a deep crisis of trust. Those who once firmly believed in Bitcoin could only watch helplessly as their faith crumbled.
02. 94 Incident: One Announcement, 100,000 People in the Crypto Space Evaporated 160 Million Overnight!
On September 4, 2017, the regulatory authorities in mainland China struck hard, defining ICOs as illegal public fundraising activities. This announcement was like the scythe of death, instantly cutting off the hopes of countless investors. Token prices plummeted sharply, Bitcoin fell by 32%, and 100,000 people in the crypto space evaporated 160 million in assets overnight! This was a true dark moment; those once considered bulls could only shiver in this storm.
03. 312 Incident: A Celebration Amid the Pandemic Turned Into a Nightmare for the Bulls!
On March 12, 2020, impacted by the pandemic, the global economy fell into recession, and the US stock market plummeted. However, during this storm, Bitcoin became a safe haven for many investors. But the good times were short-lived; in just two days, the price of Bitcoin crashed over 50%! Those bulls who viewed Bitcoin as a safe-haven asset could only watch as their assets dwindled, wanting to cry but having no tears.
04. 519 Incident: Central Bank Announcement, Bulls' Wealth Instantly Evaporated by 34%!
On May 18, 2021, the central bank issued a statement claiming that providing virtual currency trading services constituted illegal financial activities. This news was like a bolt from the blue, instantly igniting the entire crypto space. Although there was no major drop that day, by the night of May 19, Bitcoin's price plummeted like a cliff, with a drop of 34%! Those who once bragged about being bulls could only watch their wealth evaporate in an instant.
05. Luna Black Swan Event: A Korean's Dream, Yet a Nightmare for the Bulls!
In May 2022, Luna and UST, two tokens once adored by countless investors, collapsed in an instant during a large holder's sell-off storm. Luna's price plummeted over 90%, and UST completely depegged. This event not only triggered a major crisis in the decentralized finance sector but also plunged those who once had confidence in Luna and UST into a deep abyss of despair.
06. FTX Explosion Incident: 32 Billion Dollars Valuation, Yet Vanished Overnight!
At the end of 2022, FTX, once the second-ranked exchange in the crypto market, collapsed dramatically. Internal management chaos and scandals involving the misuse of client funds were instantly exposed. This event not only triggered a crisis of trust in the entire cryptocurrency market but also left those who once had confidence in FTX in a state of despair. Bitcoin's price also plummeted by 75% due to this incident, with countless investors' wealth vanishing overnight.$BTC
