Everyone has heard about the 94 incident in the cryptocurrency circle, and everyone knows that the market fell very sharply on 94, but in fact the most severe event was 915. 915 was the final blow of 94, and with just this one blow, countless people lost their fortunes once again!
Here I will reconstruct the whole incident as an eyewitness!
On September 4, 2017, seven ministries jointly issued a notice that explicitly prohibited any token issuance and financing activities, and all ICO token trading platforms were required to clean up and close transactions before the end of the month.
As soon as this article came out, altcoins began to fall. Many altcoins lined up to return to zero, falling several times. Many altcoin exchanges even chose to close directly.
Although losing the ICO is like cutting off one's own arm
But at that time, the three major exchanges BTCC, Okcoin, and Huobi had no ICO at all. Only five currencies, BTC, LTC, ETH, ETC, and BCH, could be traded, and none of them were ICOs. So as long as the three major exchanges were still operating, everyone still believed that the future of this industry would be bright.
It was not until September 14, 2017 that Bitcoin suddenly began to plummet, and then there were rumors in various Qiuqiu groups that all Bitcoin exchanges in China, including the three major exchanges, would be completely cleared out.
Bitcoin fell from $3,900 to $3,200 on this day, a drop of 17%.
On the afternoon of September 15, the Beijing Internet Finance Regulation Team summoned the heads of various virtual currency platforms and required each trading platform to issue an announcement that evening, clearly stating the final time to stop all virtual currency transactions, immediately stop new user registrations, and formulate a risk-free cleanup and withdrawal plan.
As soon as this announcement came out, all investors sold their virtual currencies like crazy. Everyone felt that this market was over and this circle had no hope. They sold their currencies and cashed out, fearing that if they sold too late, all their currencies would become zero.
The heads of major exchanges and domestic management held an emergency meeting, the results of which will be announced around 9 p.m., but outside observers unanimously predicted that the results would be very pessimistic.
Bitcoin also plummeted from the afternoon, falling from $3,250 to $2,950.
Litecoin is even more of a needle, directly cut in half
Until 9 pm Announcement: All digital asset trading businesses will be gradually stopped before October 31st. Users are requested to dispose of all assets in a timely manner.
Huge negative news suddenly hits
As a result, all virtual currencies not only stopped falling, but also skyrocketed instantly.
Bitcoin went from $2,950 to $3,700
Litecoin almost doubled
The investors were confused. It was obviously a huge negative news. They had already withdrawn all their coins and even shorted them. Why did this happen suddenly?
After 915, since everyone had sold all the coins in the market and withdrawn them, and could not deposit money to buy again, the remaining coins in the market suddenly became hot commodities, and many people could not buy them even at a premium of 20% or even 30%.
Because everyone has no coins in their hands, the real bull market has just begun!
It was also from this day that the tenfold growth of Bitcoin and the hundredfold growth of altcoins slowly began to emerge.
But only a few people actually make money because of the bull market!
ps: The cryptocurrency world is an extremely anti-human place. Sometimes what you think is bad news is actually good news, and what you think is good news is actually bad news, because making money is always only a small part.
If you feel helpless, lost, and unclear about the direction in trading at the moment, you can come to my village and click on the avatar Kanjianjie. You can be a real player!