How many black swan events in the crypto market have you experienced?
1. Mentougou incident in February 2014: Bitcoin plummeted 86.3%
In February 2014, the Mentougou incident was regarded as one of the most serious events in the history of the cryptocurrency circle. At that time, the world's largest Bitcoin exchange MTGOX was hacked and lost nearly 850,000 Bitcoins, accounting for 7% of the total number of Bitcoins in the world. This incident not only caused the price of Bitcoin to plummet by more than 80%, but also triggered a crisis of trust in the cryptocurrency market.
2. September 4, 2017 incident: market value evaporated by 80%. In 2017, the cryptocurrency market experienced huge fluctuations, and the market value evaporated by 80% in just a few days. Prince BCH fell from 4700USDT/coin to 70USDT/coin. Investors suffered heavy losses in this crisis, but it was this experience that made people understand the complexity of the cryptocurrency market more deeply.
3. March 12, 2020: Ethereum plummeted to around $80. On this heartbreaking day, this incident made people see the impermanence and uncertainty of the cryptocurrency market. Despite this, the belief in the huge potential and value of cryptocurrency remains firm.
4. May 19, 2021: 600,000 contract dogs were liquidated This was a shocking incident. 600,000 contract dogs were liquidated overnight, and countless investors suffered huge losses. The one who suffered the most losses was the big toief, who went long and bought all the popular and old-fashioned cottages except Bitcoin during the plunge. After this incident, he disappeared from the crypto market. The single currency he held suffered the most losses was the Ethereum contract. This incident once again reminded us that the cryptocurrency market is full of risks and uncertainties.
5. Luna Black Swan Event in 2022: Crisis in the DiFi Field The Luna Black Swan Event dropped from more than $100 to 0.0000 in a week, a single-day drop of 99.9%. This event also marked a major turning point in the cryptocurrency market, triggering a major crisis in the field of decentralized finance (DFI), which had a profound impact on the market.
6. FTX Explosion in 2022: Market Confidence Crisis
The FTX explosion triggered a crisis of confidence in the entire cryptocurrency market, which dealt a severe blow to the market. The Ethereum standard disk fell by more than 40% in 4 hours. Although the market has been relatively friendly to us this year, these tragic events still sounded the alarm for us, reminding us to stay vigilant at all times.
