The currency circle is ups and downs, and many people come in with high hopes, but then leave sadly.

How many people have fallen before dawn. They could have wealth and freedom, but for various reasons, they left resolutely.

What has the currency circle experienced in these years?

Let’s take stock of the famous plummeting events in the currency circle.

Mentougou incident

In the Mentougou incident in February 2014, hackers stole 744,408 Bitcoins, and Bitcoin plummeted by 80%. At that time, it was valued at US$450 million, accounting for 7% of the total circulation.

People's trust in the big pie and exchanges has declined, and they have questioned the concept of decentralization promoted by blockchain.

9·4 incident

On September 4, 2017, after the central bank and seven other ministries and commissions issued the "Announcement on Preventing Financing Risks of Token Issuance", ICO tokens fell off a cliff. For a while, the entire currency circle panicked, fearing that everything would be lost if they were sold too late. Various tokens fell below the issue price, with the highest drop exceeding 90%. More than 80% of the funds in the currency circle evaporated overnight, which can be called the darkest moment.

312 incident

It is estimated that many people have experienced 312. Anyone who has experienced it and is still in the circle has basically made money.

Without further ado, there will be another 313 after March 12th, which are both freezing and freezing nights. It fell by more than 40% that day, and then fell by 45% after rebounding on 313.

One can imagine how desperate people in the currency circle were at that time.

According to data, on the evening of March 12, 3 billion US dollars of funds were liquidated in the currency circle, and more than 400,000 people liquidated their positions. The maximum liquidation amount was US$13 million, and the average liquidation amount per transaction reached US$50,000.

Background of the crash: Affected by the global epidemic, commodities, oil, U.S. stock market circuit breakers, etc., the cryptocurrency market collapsed in the process.

519 incident

The reason is that the three associations issued the "Joint Announcement on Preventing the Risks of Speculation and Transactions of Virtual Currency"

That is, the country continues to crack down on the risks of virtual currency speculation, major exchanges have begun to withdraw, and the financial industry has closed down.

The number of people who were liquidated that day reached 600,000. Don’t ask me how I remember it. I said it was 600,000/1🤣

Luna black swan

The main reason is that Terra's Anchor project offers too much. Anchor provides an annualized rate of return on fixed deposits of up to 20%.

What do you think is such a good thing in this bear market? A 20% principal-protected investment is like a gift from God, isn't it? So many people want to own UST and deposit it in Anchor to earn interest. So how can we buy UST? Naturally, everyone turned their attention to Luna, which can mint UST.

The price of Luna has skyrocketed, reaching nearly 120 dollars each.

Later, Terra's algorithmic stablecoin UST became unanchored and fell into a "death spiral", and the currency price will eventually return to zero.

My eldest brother lost millions this time

Ftx thunder

This is a fight between gods and gods, and the people suffer.

Afro and CZ fought, and the market crashed. But compared with the above events, this was a very small impact.

The above are all relatively famous events in the currency circle, and there is no reason for them to fall.

Therefore, only if you can withstand this kind of plunge will you be reborn. The zero-sum game market must undergo a reshuffle and tell new stories. The bull market is full of new leeks to take over for you.