Six Major Black Swan Events in the Cryptocurrency World
1. February 2014 Mentougou Incident: Bitcoin Plummeted 80%
In February 2014, the Mentougou incident was regarded as one of the most serious events in the history of the cryptocurrency world. At that time, the world's largest Bitcoin exchange MTGOX was hacked, losing nearly 850,000 Bitcoins, which accounted for 7% of the total Bitcoin supply. This event not only caused the price of Bitcoin to plummet by 80% but also triggered a crisis of trust in the cryptocurrency market.
2. September 2017 9.4 Incident: Market Value Evaporated by 80%
In 2017, the cryptocurrency market experienced significant volatility, with market value evaporating by 80% in just a few days. Investors suffered heavy losses during this crisis, but such experiences deepened the understanding of the complexities of the cryptocurrency market.
3. March 12, 2020 Incident: Ethereum Plummeted to $80
On this heartbreaking day, the price of Ethereum fell below $80. This event showcased the volatility and uncertainty of the cryptocurrency market. Nevertheless, the belief in the immense potential and value of cryptocurrencies remained strong.
4. May 19, 2021 Incident: 600,000 Contracts Liquidated
This was a shocking event where 600,000 contracts were liquidated overnight, causing immense losses for countless investors. This event once again reminded us that the cryptocurrency market is fraught with risk and uncertainty.
5. Luna Black Swan Incident of 2022: Crisis in the DeFi Sector
The Luna Black Swan incident marked a significant turning point in the cryptocurrency market, triggering a major crisis in the decentralized finance (DeFi) sector and having a profound impact on the market.
6. 2022 FTX Collapse Incident: Crisis of Trust in the Market
The FTX collapse incident sparked a crisis of trust in the entire cryptocurrency market, dealing a severe blow to the market. Despite the market being relatively friendly to us this year, these tragic events still serve as a wake-up call, reminding us to remain vigilant at all times. Amid the continuous changes in this industry, we look forward to the opening of a new chapter.