In the crypto world, opportunities and madness intertwine. During surges, emotions run high, and during crashes, one feels deep pain. The six major black swan events, like six profound scars, etch the cruel truth of the market.
In 2014, the Mt. Gox incident occurred, with hackers stealing nearly 850,000 bitcoins, accounting for 7% of the global total. Bitcoin crashed by 80%, market trust collapsed, and alarms about exchange security rang out.
In September 2017, a storm emerged, and under regulatory bans, the cryptocurrency market value evaporated by 80% in just a few days. Investors fell from the clouds, and the market began to move towards regulation.
On March 12, 2020, the market collapsed as the pandemic spread, triggering panic. The price of Ethereum plummeted below $80, exposing the vulnerability of the market tightly connected to global finance.
On May 19, 2021, a tragedy occurred where 600,000 contract players went bankrupt overnight. The risks of leveraged trading were starkly revealed; greed and blindness will ultimately pay a painful price.
In 2022, the Luna collapse occurred, marking the fall of a star project in the DeFi space. Trust in algorithmic stablecoins crumbled, and innovation cannot overlook risk and compliance.
In the same year, FTX exploded, a well-known exchange went bankrupt, and market trust faced its ultimate test. The road to rebuilding is long and arduous.
These six major black swans are lessons learned through blood and tears, constantly reminding us: respect the market, and we can act steadily and go far.
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