June 15, 2021

Bitcoin One Year Later: Reliving The Black Thursday Panic Crash

2 min read

Time flies. It is hard to imagine that one year ago today, Black Thursday struck Bitcoin and triggered one of the biggest single-day selloffs in the property’s brief history, however here we are. In honor of all the billions of liquidations that happened that day, all the strong hands that held through the carnage, and the savvy investors who purchased the blood in the streets, we’re recalling at that eventful day and how far the leading cryptocurrency by market cap has actually been available in the brief time given that.

Black Thursday Anniversary: Remembering The Catastrophic Crypto Market Crash

Last February, the stock market had set a new all time high and Bitcoin cost was back above $10,000 for the first time given that summer season of 2019. Things had started to draw back into March, but come March 12 panic totally set in, and there was a widespread selloff throughout all of crypto, and traditional markets like stocks and precious metals. The safe house of the dollar was the only place to conceal.

RELATED READING|HOW LASER EYES COULD HAVE BITCOIN INVESTORS SEEING RED

The United States had first started announcing lockdowns, quarantines, and social distancing guidelines. The initial panic not just erased markets, but store racks everywhere were picked clean of basics as the world feared the worst.

bitcoin black thursday 2021

One year back, Bitcoin and the rest of the finance world suffered a historic crash|Source: BTCUSD on TradingView.com On March 12, the leading cryptocurrency dropped by 40% alone, capping off a move that culminated in more than 60 % being shed from the regional peak. The scar from that day will forever be left on the Bitcoin price charts of the billions of dollars liquidated that day.

Strength of Polar Move Results In Most Powerful Uptrend In Bitcoin History

While that day was frightening for all, anybody brave enough to buy the blood, there's never ever been a much better example of how financially rewarding the advantage can be.

RELATED READING|ONE YEAR LATER: BITCOIN EMERGES AS "THE STIMULUS ASSET"

There result of such a strong polar relocation down due to panic, has made a similarly effective polar move higher. The conditions post-pandemic just so happened to be the ideal storm for the ultra rare cryptocurrency property, amidst the backdrop of an ever-expanding money supply.

bitcoin black thursday 2021

 The top cryptocurrency has actually invested a complete year given that in a powerful uptrend|Source: BTCUSD on TradingView.com

The cost per coin has actually increased more than ten-fold ever since, from under $4,000 on that eventful day, to more than $58,000 per coin at the time of this writing.

Anyone who was greedy when others were afraid, or any holders that held when no one else would, are now enjoying the fruits of their labors.

Featured image from Deposit Photos, Charts from TradingView.com