Recording📝Summary of major events in the crypto world from 2017 to 2024

9·4 incident
On September 4, 2017, the People's Bank of China and seven other ministries issued the "Announcement on Preventing Risks of Token Issuance Financing," which led to a cliff-like decline in ICO tokens and caused panic in the entire crypto world.
In 2018, the price of Bitcoin plummeted from its historical high point of nearly $20,000 at the end of 2017 to around $3,000 at the end of 2018, a drop of over 80%.

312 incident
On March 12, 2020, due to the global epidemic causing market panic, the price of Bitcoin plummeted by more than 50% in a single day, falling from $8,000 to $3,800, and there was severe panic selling in the crypto world.

519 Incident
On May 19, 2021, three major Chinese associations issued a joint announcement on preventing the risk of speculation and trading in virtual currency, leading to a significant decline in the prices of Bitcoin and other cryptocurrencies. The price of Bitcoin fell from $58,000 to around $30,000, a drop of nearly 50%.

Luna Event
- In May 2022, Terra's algorithmic stablecoin UST unpegged, causing Luna to spiral into a 'death spiral', with the price plummeting from nearly $120 to almost zero, plunging the entire market into panic.

FTX event
- In November 2022, FTX exchange suffered from a liquidity crisis which caused market panic, and the price of Bitcoin dropped from $21,000 to $16,000.

Banking crisis
- In March 2023, the encryption-friendly banks Silvergate Bank, Silicon Valley Bank, and Signature Bank collapsed one after another, triggering market panic.

618 incident
2024 arrived, welcoming another bull run. This bull market is bound to be bumpy, and the market will inevitably experience many unexpected pullbacks, just like the significant pullback in the altcoin market during the 618 promotion, even hitting a historical low. The resistance against VC capital also erupted in this round, intensifying the confrontation between retail investors and institutions. The BTC ecosystem is facing comprehensive shorting and resistance, but the overall trend of Bitcoin is still positive.
Market panic is spreading, but it also heralds new opportunities. MEME becoming fully circulated has become the mainstream choice for the future, and value coins are gradually losing their meaning. Apart from Bitcoin, other currencies have entered the altcoin era. In this context, as part of Bitcoin, BRC20 is particularly worthy of development and promotion.

The stages that a bull market must go through:
Phase 1: Confidence Recovery Stage (unfolding amidst doubts)
After experiencing a sharp decline, the market is at a low point, with prices heavily discounted, making it a good time to buy cheap; there are constant doubts, and the mainstream voices mostly hold a skeptical attitude towards the market.
Examples of past bull markets: In early 2017, the price of Bitcoin gradually recovered from its lows in the previous years, but market confidence had not fully returned, and investors cautiously entered the market with hesitation.
Phase Two: Profit-Driven Phase (Hesitation Leads to Sharp Increase)
The price started to rise in this stage, but has not yet reached the previous high; more people are entering the market, and the market is becoming active again, with investment sentiment gradually warming up, but there is still some hesitation.
Examples of past bull markets: In the second half of 2017, the price of Bitcoin started to soar, rising from around $3,000 to nearly $20,000. A large number of new investors flooded into the market, and the market sentiment was high.
Phase III: Crazy Stage (ending in madness)
At this stage, the market sentiment is high, prices are rising rapidly, and speculative behavior is increasing. The market enters a frenzy state, prices reach a high point, and there may be a significant pullback afterwards, increasing market risks.
Examples of previous bull markets: In early 2021, the price of Bitcoin quickly rose from around $20,000 at the end of 2020 to over $66,000, and market sentiment was extremely high. A large amount of speculative capital poured in, followed by a sharp retreat in May.

In the past few years, the crypto world has experienced multiple major events, and each turmoil has brought new opportunities and challenges. From the 9.4 incident in 2017 to the 618 incident in 2024, each stage is shaping the future of cryptocurrency.
When the market is at a low point and panic is spreading across the entire network, I think it is the time for everyone to gradually build a position, buy in the midst of risks, and then forget about it and go on a trip. When you come back during the frenzy phase, sell everything and you will be financially free.