Although Bitcoin has been rising steadily since its birth in 2009, after a long period of time (three years), its price was only $10 until it encountered the first halving in its career.
Bitcoin's first halving on November 28, 2012 "The Battle of Creation"
Within one year after Bitcoin’s first halving, Bitcoin quickly rose from around US$10 to over US$1,100. It increased more than 100 times in one year, and the entire market went crazy.
Until December 5, 2013, the People's Bank of China and five other ministries and commissions issued a notice on preventing Bitcoin risks. Bitcoin cannot and should not be used as currency in the market.
In just two weeks, Bitcoin quickly fell from $1,152 to $519. A few months later, when the entire market was calming down, another big thing happened.
On February 24, 2014, known as the "Mentougou Incident" in history, Mt. Gox, the largest virtual currency exchange at the time, discovered that 100,000 Bitcoins owned by the exchange and 750,000 Bitcoins belonging to investors had been stolen by hackers.
A full 850,000 Bitcoins disappeared overnight, and the entire market quickly took a nosedive, and the market went further and further with this black swan.
In the long bear market that followed, Bitcoin dropped to as low as $178, with the highest drop reaching 85%. Most of the altcoins fell to zero, and the remaining altcoins were also miserable. Countless investors left the market disappointed and lost all their money. The virtual currency market has no chance.
Bitcoin's second halving on July 9, 2016 "The Battle of Rivers and Undercurrents"
After three years of bear market, everyone still has doubts about this market. We stumbled into the second halving of Bitcoin. At this time, the price of Bitcoin was around US$650. What everyone did not expect was that in After the halving, along with various benefits, Bitcoin rose from US$650 to US$19,800.
All kinds of altcoins are skyrocketing like crazy, and the whole market feels like a bunch of demons dancing around.
However, with the withdrawal of domestic exchanges in the "94 Incident" in 2017, and the vigorous crackdown on ICOs by relevant departments in early 2018, this bull market has no choice but to come to its end. In the continuous decline for several years, Bitcoin fell from 19,800 US dollars to about 3,000 US dollars. This time the decline once again reached 85%. 90% of altcoins almost returned to zero, and all altcoin holders in the entire market were bloodbathed.
March 12, 2020 "312 Incident"
After several years of bear market, the currency price had just stabilized and everything was moving in a good direction. As a result, COVID-19 cases were discovered in various countries one after another. The US stock market also experienced four circuit breakers this month, and the currency circle suddenly began to collapse.
This crash was the most ferocious and brutal crash in the history of virtual currency. Bobo and all the currency friends around him were almost completely exposed. Bitcoin fell from US$8,000 to US$3,800 in just two days, an instant cut in half. Most altcoins fell several times or even more than ten times in two days. ETH actually dropped from 1,500 in the bull market. The high of the US dollar fell to 87 dollars.
All investors have doubts about life and feel that there is no hope in the currency circle. There are many people who have lost money and left the market.
Bitcoin Halved for the Third Time on May 11, 2020 "The Battle of Desperate Rebirth"
Just as the entire virtual currency market was in depression, Bitcoin ushered in its third halving. This time the halving was accompanied by a circuit breaker in the US stock market, an intensification of the epidemic, and a setback in the global economy. However, at the same time, the entire financial world also faced An unexpected surprise came when the United States began to open the floodgates and printed approximately US$4.5 trillion in 2020.
Unsurprisingly, Bitcoin began to skyrocket again. During the entire bull market, Bitcoin rose from US$3,800 to a peak of nearly US$70,000. All altcoins also skyrocketed. Hundred-fold coins and thousand-fold coins emerged in endlessly, and many people became rich overnight. yes.
May 19, 2021 "519 Incident"
On the 18th, the Mutual Finance Association and other organizations jointly issued a document stating that relevant institutions are not allowed to conduct business related to virtual currencies. As soon as this article came out, the market took a turn for the worse. Bitcoin halved within a few days. Many altcoins even fell several times on the day of 519. Countless investments On this day, the people were bloodbathed again.
The entire bull market also came to an end with the outbreak of the May 19 incident. By November 2022, Bitcoin fell to $15,450, a drop of 77%.
Bitcoin will usher in its fourth halving in 2024
Between March 2024 and June 2024, the difference between this halving and the past is that the encryption market is more mature and the audience is growing, but the relative world economic growth is also slowing down. But no matter what, based on past experience, every halving of the market is worthy of our imagination. There are many stories about to happen. Let us quietly look forward to the coming of this big drama!
Follow bobo and we will walk through every ordinary day in the currency circle together!
