In the previous Bitcoin halving, a significant event unfolded: on March 8, 2020, 90% of investors exited their positions. This caused Ethereum (ETH) to experience a sudden 17% drop from $250 to $210, while Bitcoin (BTC) fell 10% from $9,200 to $8,300. The market briefly rebounded but then sharply declined the next day, triggering the U.S. stock market's first circuit breaker. ETH dropped another 10% to $190, and BTC decreased by 8% to $7,700. This sparked widespread panic and further selling. Although some investors believed the worst was over on March 10th and 11th and began buying again, they faced a severe crash on March 12th. ETH plummeted from $1,500 to $150, and BTC dropped from $8,000 to $5,500. Many in the cryptocurrency community, myself included, believed the market was done, leading to mass liquidation. However, some remained optimistic and began buying again at the bottom on March 13th. Despite the challenges, there were still individuals determined to rebuild and persevere in the industry. The cycle of volatility and resilience continues, with Ethereum (ETH), Bitcoin (BTC), and Solana (SOL) remaining prominent players in the market.
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