描述
In memory of BTC crashes during its cycle. 1/5 series.
1. June to November 2011, -93%
Bitcoin’s first major crash happened in 2011, when Bitcoin went from $29 all the way down to $2. Such a dramatic crash (93%) has not happened since.
The major reason for this epic crash was the hacking of Mt. Gox, the dominant centralized crypto exchange in crypto’s early days. A hacker gained access to Mt. Gox user accounts and was able to falsely “crash” Bitcoin’s price to $0.01.
Although this crash wasn’t real, it was a huge blow to Bitcoin and the broader ecosystem in its early days. Unfortunately, however, this was not the last Mt. Gox fiasco, as you’ll see shortly.