How many black swan events have you experienced in the crypto world?
1. February 2014, Mentougou Incident: Bitcoin fell 80% in one night.
In February 2014, Mt.Gox, the largest Bitcoin exchange at the time, was hacked, losing 850,000 Bitcoins, which was equivalent to 7% of the total global supply at that time. The price of Bitcoin crashed from $800 to $100, a plunge of 80%. Market confidence completely collapsed, and the "Mentougou" incident became one of the most disastrous black swan events in crypto history.
2. September 2017, China bans ICOs: 80% market value evaporated in one day.
On September 4, 2017, the People's Bank of China and seven other departments jointly issued a document to completely ban token financing. Bitcoin dropped from $4,100 to over $2,800 that day, with a decline of over 30%. A large number of ICO projects went bankrupt, and the entire crypto market saw its market value shrink by 80%. Domestic projects rushed overseas, and investors were ruthlessly harvested, leading to widespread lamentation.
3. March 2020, Black Thursday: Ethereum almost went to double digits.
In March 2020, the COVID-19 pandemic swept the globe, causing financial markets to collapse entirely, with the U.S. stock market experiencing continuous circuit breakers, and the crypto world could not withstand it either. On March 12, Bitcoin was halved from $8,000 to $3,800, while Ethereum plunged from $288 to $88. Countless people were completely wiped out, and market sentiment dropped to freezing point.
4. May 2021, China's ban escalates: 600,000 people were liquidated.
On May 19, 2021, the three major domestic associations jointly issued a document banning virtual currency business, causing Bitcoin to drop immediately from $42,000 to $29,000, with a single-day decline of over 30% (later it rebounded to $37,000). Both bulls and bears were badly hit, with 600,000 people liquidated, and the amount reached $7 billion, making it a night that contract players would never forget.
5. May 2022, Luna crash: The crypto myth shattered in one night.
In May 2022, the Luna coin and UST stablecoin of the Terra blockchain completely collapsed. Luna fell from over $100 to nearly zero, with a market value evaporation of $40 billion. Bitcoin also dropped from $40,000 to $30,000. Subsequently, institutions like Three Arrows Capital went bankrupt one after another, and Bitcoin once dipped to $10,000.
6. November 2022, FTX explosion: The second largest exchange collapses.
In November 2022, FTX, the world’s second largest cryptocurrency exchange, was exposed for financial fraud, leading users to withdraw their assets frantically, and ultimately declared bankruptcy due to liquidity exhaustion. The founder SBF was arrested, and Bitcoin fell to $15,000, plunging the market into another trust crisis.
#黑天鹅事件 $BTC$ETH
