Exactly 3 years ago, on March 12th 2020, bitcoin price crashed 50% in one day.
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… In 2020, the COVID-19 pandemic had just begun to spread globally. This caused a widespread panic and uncertainty in financial markets which lead to sharp declines in global markets… bitcoin was no exception to this. In just one day, exactly 3 years ago.. bitcoin price took a horrendous nosedive.. dropping 50% (FIFTY PERCENT) in just one day. This caused huge liquidation cascade on once popular exchange BitMEX. $750 million in bitcoin was liquidated in a matter of minutes. This created a swift drop to the $3600 low… the exchange was then very conveniently closed for "maintenance" 😀 (Its owner Arthur Hayes was sentenced to 2 years of probation for money laundering) Another popular exchange at that time – Deribit also faced technical difficulties In two months however bitcoin price completely recovered and proceeded to make new all time high some time later…
*Edit: here is also daily discussion on that day (thanks to u/AncientCauliflower47 ) Sources: https://www.cnbc.com/2020/03/13/bitcoin-loses-half-of-its-value-in-two-day-plunge.html submitted by /u/Chysce |
