The top 5 crypto crashes in history! – #17!

Anyone who has spent a considerable amount of time researching and investing in crypto knows one thing about this space. It’s volatile. The market soared to new heights, crashed and bounced months or years later. These are the 5 most serious crashes in crypto history.


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# 5 – April 2013: DDoS attack on Mt. Gox.

Mt. Gox, one of the earliest and most prominent Bitcoin exchanges of the first cryptocurrency, has grown to handle about 70% of all Bitcoin transactions. At some point, such a big activity point of Bitcoin became

After hitting a high of $ 260, Mt. Gox was forced to suspend trading to cool the market. At that time, the exchange was also hit by DDoS attacks by cyber attackers. Bitcoin prices fell to $ 55.59 when trading
resumed-down more than 70%.


# 4-December 2013-January 2015: China’s ban BTC for the first time. The end of Mt. Gox

The first of many Chinese bitcoin and mining bans was December 2013. This ban prohibits banks and payment companies from using Bitcoin or exchanging it for RMB (RMB).

That moment proved to be the tip of the iceberg. Bitcoin continued its downward spiral as a flaw in Mt. Gox when the exchange came to light. On February 7, 2014, Mt. Gox stopped all Bitcoin withdrawals and blamed the Bitcoin bug on the decision.

3 weeks later, the exchange filed for bankruptcy, claiming it had lost a total of 850K BTC. Investor enthusiasm diminished as new evidence revealed that Mt. Gox was abusing customers’ funds, BTC plunged after a brief backlash, and on Jan 13, 2015, it hit a low of $ 178.10.


#3- Dec. 2017-Feb. 2018: Cryptocurrency Winter.

You know that the market stage is bad when it gets its own just as harsh name. At this point, BTC wasn’t the only crypto on the block, as ETH emerged as a serious alternative and was able to capture 30% of the market by mid-2017.

Initial coin offerings (ICOs) have grown in popularity with ETH. Some investors were able to monetize their ICO rewards for a big win, while others were caught up in a scam that discouraged many from investing more money in crypto. .. The crash affected all cryptos, not just BTC.

The sale began in December 2017 and settled in February 2018. After that, months of integration and further price declines throughout the year. However, the worst damage occurred between January and February, when Bitcoin lost nearly 65% of its value.

ETH lost almost half of its value in the same period. Some believe that we may or may not be in the new “Cryptographic Winter”, including Ethereum co-founder Vitalik Buterin.


# 2-May 11-12, 2022: LUNA / UST

The recent plunge in the TerraUSD (UST) and Terra (LUNA) crypto markets still surprises many investors. More details on the now infamous nod of the precisely triggered LUNA and the UST’s depeg from $ 1.00 are still being poured.

However, the Anchor Protocol’s Annual Interest Rate (APY) for the UST is pointed at – unsustainable. It was set at a solid 20%. Of course, this APY needs to be lowered at some point, and investors have jumped over and started selling UST.

This caused stablecoin to lose $ 1.00 pegs. LUNA also suffered from being sold out. Part of LUNA’s demand was driven by UST, and when it crashed, LUNA also crashed. On May 19, 2022, LUNA was $ 0.00014, which is an amazing value considering the record high of $ 116.41 on April 3.

Meanwhile, UST is currently valued at just $0.08. This is also insane to think about, for a coin that should remain at $ 1.00.


# 1-June 19, 2011: Mt. Gox was hacked.

Probably the biggest crash in crypto history was the first event comparable to the shock that many felt from the LUNA / UST blunder. The crash once again affected the now infamous Mt. Gox.

Immediately before this flash crash, Bitcoin was stolen from the exchange and information from the Mt. Gox user database was leaked. Then, on June 19, 2011, a website exploit allowed hackers to reduce the price of Bitcoin from $ 17.50 to just a cent.



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