94 incident in the currency circle
The magnificent blood and tears history of the leeks
Everyone has heard of the 94 incident in the currency circle, and knows that the 94 fell very hard, but in fact the most severe was 915. 915 was the last blow of 94. With this blow, countless people lost their fortunes again!
On September 4, 2017, seven ministries and commissions jointly issued a clear ban on any token issuance and financing activities, and all ICO token cex needed to clear and close transactions before the end of the month.
As soon as this article came out, the altcoins began to fall. Many altcoins lined up to return to zero, falling several times, and many altcoin exchanges even chose to close directly.
Although the loss of ICO is equivalent to cutting off one's own arm
But the three major cex at that time had no ICO at all. Only BTC, LTC, ETH, etc, and BCH could be traded. None of them was ICO, so as long as the three major cex were still in operation, everyone still believed that the future of this industry would be very bright.
Until September 14, 2017, Bitcoin suddenly began to plummet, and then there were rumors in various channels that China would completely clear all CEXs, including the three major exchanges.
Bitcoin fell from $3,900 to $3,200 on that day, a drop of 17%
On the afternoon of September 15, the Beijing Internet Finance Regulation Group interviewed the heads of various virtual currency platforms and required each trading platform to issue an announcement that evening to clearly specify the final time to stop all virtual currency transactions and immediately stop new user registrations; and formulate a risk-free clearing and withdrawal plan.
As soon as this announcement came out, all investors sold their virtual currencies like crazy. Everyone felt that this market was over and this circle had no hope. They sold their coins and cashed out, fearing that if they sold too late, all the coins would return to zero.
The heads of major exchanges and domestic management held an emergency meeting. The results of the meeting will be announced around 9 pm, but the outside world unanimously predicted that the results of the meeting would be very pessimistic.
Bitcoin also plummeted from the afternoon, from $3,250 to $2,950
Litecoin was even more of a needle, directly cut in half
Until 9 pm, the announcement was released: All digital asset trading businesses will be gradually stopped before October 31, and users are requested to dispose of all assets in a timely manner.
A huge negative suddenly landed
As a result, all virtual currencies not only stopped falling, but also soared instantly
Bitcoin went directly from $2,950 to $3,700
Litecoin almost doubled
The leeks were confused. It was obviously a huge negative. They had already withdrawn all their coins and even shorted them. Why did this suddenly happen?
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After 915, since everyone had sold all their coins in the market, withdrawn all their coins, and could not deposit money to buy again, the remaining coins in the market suddenly became popular. Many people could not buy them even at a premium of 20% or even 30%.
Because everyone had no coins in their hands, the real bull market had just begun!
It was also from this day that the tenfold road of Bitcoin and the hundredfold road of altcoins slowly emerged.
However, there were very few people who really made money because of the bull market!
The currency circle is an extremely anti-human place. Sometimes what you think is a negative is actually a positive, and what you think is a positive is actually a negative, because only a small part of the people make money.
