$BTC The Worst Day in History

Price dropped by 81% in 2 hours

At the beginning of 2013, Bitcoin seemed to herald the future of currency.

In just three months, its price skyrocketed from $13 to $266.

At that time, 70% of global Bitcoin transactions were held by the exchange Mt.Gox. You could say it was a giant, but it turned out to be a paper tiger, unable to handle the surge in traffic.

Suddenly one day, the exchange froze up like a PowerPoint presentation! Orders were stuck, the webpage went blank, and all buy and sell buttons stopped working. At first, people thought it was just a network glitch, but waiting turned into hours, and panic began to set in.

This is when human nature was revealed; some rushed to cash out, just trying to escape. The result was a domino effect, with Bitcoin crashing from $266 to $50, losing 81% in just 2 hours! Many people found themselves back to square one overnight, with the numbers on the screen glaring red.

However, the most miraculous thing was that Bitcoin did not die, and by the end of the year, it surged back to $1100. This incident gave Bitcoin believers a firsthand experience of what a rollercoaster market feels like.

Will history repeat itself now? I dare say: it will, the genes of wild fluctuations in the cryptocurrency market are still present.

The market changes every day, don't let your mindset get too tight. If you always feel like you're a step behind, or if you're disturbed by market noise, feel free to come chat.