🕯 Cryptocurrency Archaeology｜312 Crash: Back to the Day of Liberation Overnight

March 12, 2020

Four Words That the Crypto World Will Never Forget: 312 Crash

📉 What Happened That Day?

BTC Plummeted About 50% in a Single Day

From Around $8000

Straight Down to $3800

Almost No Rebound, No Buffer

📌 One Sentence Description:

It Wasn't a Drop, It Was a Waterfall.

💥 How Many People Got Liquidated That Night?

Long Contracts Went to Zero in Droves

High-Leverage Players Were Liquidated Instantly

Exchange Risk Control Failed, Frequent Outages

Liquidation Orders Queued, But No One Was There to Catch the Fall

🧨 According to Post-Event Statistics:

👉 The Total Liquidation Amount in a Single Day Was Tens of Billions of Dollars

👉 Countless Accounts Were Cleared Overnight

But What’s Truly Terrifying Isn’t the Numbers,

But👇

The Liquidated People Didn’t Even Have a Chance to “Stop Loss.”

🌍 Why Was It So Severe?

312 Wasn’t a Single Event, But a Chain Reaction:

1️⃣ Global Financial Market Panic

Global Spread of COVID-19

Multiple Halts in the U.S. Stock Market

All Risk Assets Were Sold Off Indiscriminately

2️⃣ BTC Was Treated as a “High-Risk Asset”

In a Liquidity Crisis

Bitcoin Couldn’t Stand Apart

3️⃣ The Death Spiral of Contract Leverage

Drop → Liquidation

Liquidation → Forced Liquidation

Forced Liquidation → Continue to Crash

👉 Forming a Chain Reaction

🧠 What Did the Crypto World Learn That Night?

① Leverage Is Not an Accelerator, It's a Magnifying Glass

It Magnifies Profits

But Also Magnifies Fear and Destruction

② Liquidity Is More Important Than Belief

No Matter How Firmly You Believe in BTC

Without Cash, You Can't Withstand Extreme Market Conditions

③ “Extreme Market Conditions” Are Not a Legend

They Really Can Happen

And They Come Faster Than You Think

🌱 The Story That Followed

Ironically:

Less Than a Year After 312

BTC Entered an Epic Bull Market

From $3800 → $60,000

📌 But the Premise Is:

👉 You Have to Survive First

🧾 An Epigraph for Future Generations

312 Didn’t Kill Bitcoin,

It Only Eliminated Those Who Couldn't Stand.

The Crypto World Is Not Lacking Opportunities,

What’s Lacking Is——

Accounts That Can Stay in the Market During Extreme Conditions.

🕯 This Article Is Dedicated to the Memory of 312.#ETH走势分析 #加密市场观察 $BTC $ETH