Sharing a few instances of cryptocurrency price fluctuations
In June 2011, the Mt. Gox exchange was hacked, causing the price of Bitcoin to suddenly drop from $17.5 to $0.01, a decline of 99.9%.
On December 5, 2013, the Chinese government announced a ban on all forms of cryptocurrency activities. On December 4, the day before the ban was announced, the trading price of Bitcoin was $1,121. As soon as the news broke, it triggered a crash, and by December 18, the price fell to $559, a 50% drop from the peak on December 4.
The crash from April to July 2021 peaked at $63,577. Then, within the next three months, it plummeted to a low of $29,972 on July 21, and the price has remained around $28,000 since then.
Around May 10, 2022, the price of Luna dropped from $90 to 0.00000001 in just a few days, a staggering 99.9999% drop. I remember that afternoon when it fell to $1, my friend bought the dip, and by that night it was at 0.000001, the next morning it was at 0.00000001, I recall there were seven zeros in the morning.
The price of Doge surged 250 times in 2021 due to the GME incident and Musk's tweets.
FIL, a peer-to-peer open-source data storage network, had a price of $24 in February 2021, and by April 1, 2021, the price surged to $230, an increase of 858.33% over two months.
The price of SHIB rose from $0.000000000168 in January 2021, increasing by 52,648,700% to $0.000088, a rise of 133,899 times.
BTC first appeared in 2009, rapidly increasing from 2011 onwards, reaching a price of $69,000 on December 17, 2017, a growth of 80,000 times.
So, do you think it’s fierce? Are you scared?
