Big event in the currency circle plummeting! How many have you encountered?
The currency circle is ups and downs. How many people come in with high hopes, but then leave sadly?
What exactly happened? Let’s take a look at the famous plummeting events in the currency circle. How many have you encountered?
(1) Mentougou Incident
February 2014 Mentougou Incident: Hackers stole 744,408 Bitcoins, and Bitcoin plummeted 80%
(2) 9·4 Incident
On September 4, 2017, after the central bank and seven other ministries and commissions issued the "Announcement on Preventing Financing Risks of Token Issuance", exchange tokens fell off a cliff, and for a while the entire currency circle fell into a bottomless night. Various tokens fell below the issue price, with the highest drop exceeding 90%. 100,000 people in the currency circle lost 160 million in assets overnight, which can be called the darkest moment.
(3)312 Incident
For contract players, the night of March 12th was a cold night. That night, within 15 minutes, the price of Bitcoin fell by more than 15%.
Data shows that on the evening of March 12, US$2 billion of funds were liquidated in the currency market, with the maximum liquidation amount being US$10 million, and the average liquidation amount per transaction reaching US$51,000.
Around March 12, 2020, affected by the Y situation, market panic spread roughly from A-shares - US stocks - gold - Bitcoin, and financial markets such as crude oil, commodities, and futures also all collapsed.
(4) Luna Black Swan
The main reason is that Terra's Anchor project offers too much. Anchor provides an annualized rate of return on fixed deposits of up to 20%.
When everyone heard this, oh my God, in the current market environment, there is still a 20% capital-guaranteed investment. Isn’t this a gift from God? Therefore, many people want to own UST and deposit it into Anchor to earn interest. So how can I buy UST? Everyone naturally turned their attention to Luna who could cast UST.
The price of Luna has skyrocketed, reaching nearly 120 dollars each.
Later, Terra’s algorithmic stablecoin UST became unanchored and fell into a “death spiral”
The above are all relatively famous events in the currency circle, and there is no reason for them to fall.
The price fluctuations in the currency circle are too great. If you have ideas, it is recommended to learn more first. Investment is risky, so be cautious when entering the market! ! !
Follow to learn more about the currency circle~
