đ Bitcoin's First Major Crash: From $32 to $2 in 2011
In June 2011, Bitcoin faced its first true market crash, falling from around $32 to just $2 in a matter of weeks â a nearly 94% drop that shook early believers.
đť The crash followed a major security breach on the Mt. Gox exchange, where a hacker used stolen admin credentials to manipulate BTC prices and initiate a massive sell-off.
đŹ This was the first time many questioned whether Bitcoin could survive long term. But it did â and this crash taught the community hard lessons about exchange trust, security, and volatility.
đ§ In hindsight, it was just the beginning of many future cycles. Those who held on would later witness Bitcoin surpass $1,000, then $10,000, and eventually $60,000.
đˇď¸ #BitcoinCrash2011 #BTCHistory #MtGox #CryptoVolatility #HODL
