▋2014 Mt. Gox Incident: The Awakening Year of Digital Asset

Mt.Gox exchange $7 billion worth of bitcoins stolen triggered an industry earthquake, with bitcoin prices plummeting 80% to the $200 range. This security crisis unexpectedly gave rise to the establishment of a global regulatory framework, and it was later proven that $200 was the most perfect long-term accumulation point in bitcoin history.
▋Policy storm on 9.4 in 2017: Accelerator for compliance process
The People's Bank of China and six other departments jointly rectify ICOs. The global market value of cryptocurrencies evaporated by over $50 billion in a single day. As the price of Ethereum halved to $400, the mainstream exchange ETH reserves increased by 200% against the trend, laying the groundwork for the subsequent DeFi explosion. (Source: CoinMarketCap)
▋Black Swan on 3.12, 2020: Institutional Entry Turning Point
COVID-19 has triggered a global liquidity crisis, with Bitcoin plunging 38% in a single day to hit a new low for the year. Panic selling has led to a large-scale shutdown of mining machines. At this time, the spot ETF premium for Bitcoin has reached 300%, and the price doubled three months later, laying the foundation for a bull market. (Technical analysis: You can refer to the weekly MACD golden cross signal at that time)
▋2021 Regulatory Hammer on 5.19: Nightmare for Futures Traders
Three major exchanges collectively suspended futures trading, causing Bitcoin to plummet from $62,000 to $33,000 in a waterfall-like manner. In extreme market conditions, the perpetual contract basis of ETH has surged by over 500%, creating a rare risk-free arbitrage opportunity in the spot market. (Case study: A certain whale account made an eight-figure profit in 3 days)
▋2022 LUNA Crash: Algorithmic Stablecoin Apocalypse
The collapse of the Terra ecosystem led to the UST/USDT exchange rate going to zero, causing a $40 billion evaporation in the crypto market in a single day. At the darkest moment of a 60% drop in DeFi lock-up volume, the governance token of the high-quality lending protocol AAVE rose against the trend by 300%, validating the investment principle of 'crisis screening for high-quality assets.' (On-chain data: DeFi TVL change curve)
▋2022 FTX Thunderstorm: Dusk of Centralized Exchanges
FTX bankruptcy liquidation led to a $600 billion evaporation of the cryptocurrency market value, with the market panic index hitting a record high. At this time, the net outflow of Bitcoin spot ETF reached $28 billion, creating an excellent allocation space for the subsequent spot ETF scale to exceed $100 billion. (Comparison chart: Changes in ETF fund flows)
Deep Web Revolution in February 2025: The New Era of AI Computing Power
DeepSeek open source triggers computing power competition, fundamentally changing the cost structure of Bitcoin miners. At this point, laying out Layer2 networks with a mixed consensus of PoW and PoS is expected to capture the next generation of Internet infrastructure dividends. (Technical foresight: Comparison of ASIC miner power consumption curve and PoS staking rate)
【Investment Philosophy Inspiration】
1. Reverse Thinking: After the release of panic emotions, the market often overreacts
2. Capital Efficiency: Allocate 10%-20% of total funds to hedge against extreme market conditions.
3. Timing focus: 72 hours after a major event is the best observation window
4. Risk Control: Always keep 30% cash to deal with the second impact of Black Swan
As a practitioner who has experienced the complete cycle of Bitcoin from $1 to $100,000, I always believe: history will not repeat itself, but human nature will reincarnate. When the market is engulfed in collective panic, true value investors are charting the future wealth map.