Six Major Black Swan Events in the Cryptocurrency World
1. February 2014 Mentougou Incident: Bitcoin Plummeted by 80%
In February 2014, the Mentougou incident was considered one of the most severe events in the history of the cryptocurrency world.
At that time, the world's largest Bitcoin exchange MTGOX was hacked, losing nearly 850,000 Bitcoin, accounting for seven percent of the total Bitcoin supply globally.
This incident not only caused Bitcoin's price to plummet by 80%, but also triggered a crisis of confidence in the cryptocurrency market.
2. September 4, 2017 Incident: Market Value Vaporized by 80%
In 2017, the cryptocurrency market experienced huge fluctuations, with market value vaporizing by 80% in just a few days.
Investors suffered heavy losses during this crisis, but such experiences deepened understanding of the complexities of the cryptocurrency market.
3. March 12, 2020 Incident: Ethereum Plummeted to $80
On this heartbreaking day, the price of Ethereum plummeted below $80.
This incident showcased the volatility and uncertainty of the cryptocurrency market; nevertheless, the belief in the immense potential and value of cryptocurrencies remained steadfast.
4. May 19, 2021 Incident: 600,000 Dog Contracts Liquidated
This was a shocking event where 600,000 Dog contracts were liquidated overnight, causing countless investors to suffer significant losses.
This incident served as a reminder that the cryptocurrency market is filled with risks and uncertainties.
5. 2022 Luna Black Swan Incident: Crisis in the DeFi Sector
The Luna Black Swan incident marked a significant turning point in the cryptocurrency market, triggering a major crisis in the decentralized finance (DeFi) sector, which had a profound impact on the market.
6. 2022 FTX Collapse Incident: Crisis of Confidence in the Market
The FTX collapse incident triggered a crisis of confidence across the entire cryptocurrency market, severely impacting the market.
Although the market has been relatively friendly to us this year, these tragic events still serve as a wake-up call, reminding us to stay vigilant at all times.
In the ever-changing landscape of this industry, we look forward to the opening of new chapters.
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