The 915 Incident in the Cryptocurrency Circle: Memories of an Eyewitness
In the world of cryptocurrency, the 915 incident is a historic moment that cannot be ignored. It not only marks a major change in the cryptocurrency world, but also makes countless investors experience the painful lesson of falling from the clouds to the bottom. As an eyewitness, I want to restore that thrilling journey from my own perspective.
On September 4, 2017, seven ministries and commissions jointly issued a notice, explicitly prohibiting any token issuance and financing activities, and requiring all ICO token trading platforms to clean up and close transactions before the end of the month. This news was like a bolt from the blue, and it dealt a heavy blow to the newly emerging altcoin market. Many altcoins began to fall sharply, and some even went straight to zero.
At this critical moment, although the three major mainstream exchanges BTCC, Okcoin, and Huobi were not involved in ICO, their only five trading currencies were also affected. Nevertheless, as long as the three major exchanges are still in operation, everyone still has a glimmer of hope for the future of the industry.
However, on September 14, 2017, Bitcoin suddenly began to plummet, falling as much as 17%. Subsequently, rumors spread that all Bitcoin exchanges in China would be completely cleared out, which was undoubtedly another heavy blow to the market. Investors fell into panic and sold their virtual currencies one after another, fearing that they would be the last to take over.
On the afternoon of September 15, the Beijing Internet Finance Regulation Team interviewed the heads of various virtual currency platforms and demanded that all virtual currency transactions be stopped immediately. As soon as the news came out, the market completely collapsed, investors sold frantically, and mainstream currencies such as Bitcoin and Litecoin suffered heavy losses.
Faced with such a negative impact, many investors chose to withdraw all their virtual currencies to avoid greater losses. However, what they did not expect was that around 9 o'clock that night, the three major exchanges issued an announcement, announcing that they would gradually stop all digital asset trading businesses before October 31.
This sudden announcement caught investors off guard. They thought that all the coins in the market had been sold out and withdrawn, and they could not deposit funds to buy again, so the remaining coins in the market became hot commodities. Many people could not buy them even at a 20% or 30% premium.
After this incident, since investors no longer had virtual coins in their hands, the real bull market had just begun. From this day on, the path of Bitcoin's tenfold increase and the path of altcoins' hundredfold increase gradually emerged. However, few people really made money in this feast.
The cryptocurrency world is an extremely anti-human place. Sometimes what you think is bad news is actually good news, and what you think is good news may actually be bad news. In this market full of variables, only a few people can make money.
Summary: The 915 incident was an important turning point in the history of the cryptocurrency industry. It not only changed the market structure, but also made investors deeply aware of the risks and opportunities of this industry. As a witness, I know how important it is to remain calm and rational in this volatile market. I hope my experience can bring some inspiration and lessons to those who come after me. #MAV #magic #CTXC #UTK #tko $LINK $WLD $ARKM
