March 12, 2020. Bitcoin fell from around $7,900 to near $3,800 in about 24 hours.
Traders call it Black Thursday. COVID fear was hitting every market at once, and crypto had no circuit breakers to slow it down. Exchanges got overloaded, some liquidation engines broke under the load, and leveraged longs got wiped out almost instantly.
It looked like the end of a thesis for a lot of people. Bitcoin had just proven it could crash as hard as anything else in a panic.
Bitcoin is at $84,037 today.
What happened next mattered more than the crash itself. Within a year BTC had gone from under $4,000 to new all-time highs. The people who stayed, and the few who bought into that panic, ended up on the other side of one of the biggest moves in Bitcoin's history.
Were you watching the market that day, and what did you do?
Personal view, not advice. Do your own research.
#Bitcoin #CryptoCrash
Traders call it Black Thursday. COVID fear was hitting every market at once, and crypto had no circuit breakers to slow it down. Exchanges got overloaded, some liquidation engines broke under the load, and leveraged longs got wiped out almost instantly.
It looked like the end of a thesis for a lot of people. Bitcoin had just proven it could crash as hard as anything else in a panic.
Bitcoin is at $84,037 today.
What happened next mattered more than the crash itself. Within a year BTC had gone from under $4,000 to new all-time highs. The people who stayed, and the few who bought into that panic, ended up on the other side of one of the biggest moves in Bitcoin's history.
Were you watching the market that day, and what did you do?
Personal view, not advice. Do your own research.
#Bitcoin #CryptoCrash