Bitcoin has experienced an astonishing price crash in history, with its value evaporating by 81% in just two hours.
Tracing back to early 2013, Bitcoin seemed to be opening a new chapter in the digital currency revolution. Within just 90 days, its price skyrocketed from 13 dollars to 266 dollars, leaving countless investors overjoyed.
At that time, the market landscape was highly concentrated, with the Mt.Gox exchange controlling 70% of the global Bitcoin trading volume. However, this seemingly strong giant actually had a fragile infrastructure, as its servers were completely unable to cope with the surge in trading demand.
Disaster struck without warning—the exchange system was completely paralyzed. Order requests went unanswered, the web page displayed a blank screen, and trading functions ceased to operate. At first, users thought it was just a temporary technical glitch, but as the problem persisted for hours, panic began to spread in the market.
In times of crisis, market behavior reveals the most instinctive side of human nature. A large number of investors rushed to escape and cash out, triggering an avalanche of sell-offs. The price of Bitcoin plummeted from $266 to $50, crashing 81% within two hours. Many investors witnessed the rapid evaporation of their account values, and the glaring red numbers became a true depiction of the market panic at that time.
However, Bitcoin has shown remarkable resilience. The market not only survived this disaster, but by the end of the year, the price of Bitcoin actually rebounded to $1100. This extreme volatility has made investors deeply aware of the high-risk characteristics of the cryptocurrency market.
Today, as we reflect on this history, one cannot help but ask: will such drastic fluctuations occur again? The answer is almost certain—high volatility in the crypto market is already embedded in its genes.
In this unpredictable market environment, it is crucial to maintain a balanced mindset. If you often feel like you can't keep up with the market rhythm, or are distracted by various market noises, it may be time to reassess your investment strategy.
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Bitcoin has experienced an astonishing price crash in history, with its value evaporating by 81% in just two hours.
Tracing back to early 2013, Bitcoin seemed to be opening a new chapter in the digital currency revolution. Within just 90 days, its price skyrocketed from 13 dollars to 266 dollars, leaving countless investors overjoyed.
At that time, the market landscape was highly concentrated, with the Mt.Gox exchange controlling 70% of the global Bitcoin trading volume. However, this seemingly strong giant actually had a fragile infrastructure, as its servers were completely unable to cope with the surge in trading demand.
Disaster struck without warning—the exchange system was completely paralyzed. Order requests went unanswered, the web page displayed a blank screen, and trading functions ceased to operate. At first, users thought it was just a temporary technical glitch, but as the problem persisted for hours, panic began to spread in the market.
In times of crisis, market behavior reveals the most instinctive side of human nature. A large number of investors rushed to escape and cash out, triggering an avalanche of sell-offs. The price of Bitcoin plummeted from $266 to $50, crashing 81% within two hours. Many investors witnessed the rapid evaporation of their account values, and the glaring red numbers became a true depiction of the market panic at that time.
However, Bitcoin has shown remarkable resilience. The market not only survived this disaster, but by the end of the year, the price of Bitcoin actually rebounded to $1100. This extreme volatility has made investors deeply aware of the high-risk characteristics of the cryptocurrency market.
Today, as we reflect on this history, one cannot help but ask: will such drastic fluctuations occur again? The answer is almost certain—high volatility in the crypto market is already embedded in its genes.
In this unpredictable market environment, it is crucial to maintain a balanced mindset. If you often feel like you can't keep up with the market rhythm, or are distracted by various market noises, it may be time to reassess your investment strategy.