Today marks the fifth anniversary of the "March 12 incident" in the cryptocurrency world. Remembering the events of that year still feels vivid. I have some spare time to review it for new friends in the community, and it serves as a reminder for myself as well.
The starting date of the event was March 8, 2020.
At that time, the pandemic had just erupted globally. On that day, Bitcoin dropped from $9,200 to $8,300, and Ethereum fell from $250 to $210. Most people thought it was just a normal correction.
It wasn't until March 11 that the World Health Organization declared a global pandemic, and the U.S. stock market experienced its first circuit breaker. People in the crypto space began to panic, but no one expected things to get worse.
March 12, 'Black Thursday'.