The fourth anniversary of the Bitcoin 312 incident: the journey from the fringe to the world's eighth largest asset

In the past decade, Bitcoin has undoubtedly been one of the most eye-catching stars in the financial market. On March 12, 2019, the sharp fluctuations in Bitcoin prices were called the "312 Incident", which not only affected the wealth of countless investors, but also left a strong mark in the history of digital currency. Today, Bitcoin has become the eighth largest asset in the world. This transformation not only reflects the changes in the market, but also has a profound impact on the construction of the financial ecology. This article will explore in depth the development of Bitcoin, the background of the 312 Incident and its impact on the market, and the possible future direction of Bitcoin.

Before telling the story of Bitcoin, let's review its origins. Bitcoin was launched in 2009 by a mysterious figure named Satoshi Nakamoto, aiming to create a decentralized digital currency. At first, the value of Bitcoin was almost zero, and only a very small number of technology enthusiasts and financial geeks paid attention to it. However, as time went on, more and more people began to realize the potential and value behind Bitcoin. Bitcoin uses blockchain technology to ensure the transparency and immutability of transactions, which has gradually made it recognized in the financial field.

On March 12, 2019, Bitcoin experienced a dramatic price fluctuation, which became an important milestone in the digital currency market. At that time, the price of Bitcoin plummeted in a short period of time, and many investors panicked and sold their Bitcoins. According to data, this incident caused the price of Bitcoin to fall by more than 20% in 24 hours. However, it was this incident that prompted the market to re-examine. Many analysts believe that this drastic price fluctuation was caused by different market views on the future of Bitcoin. Although it caused panic in the short term, in the long run, the value of Bitcoin was not fundamentally affected.

After the 312 incident, the price of Bitcoin gradually recovered and continued to rise in the following years. In April 2021, the price of Bitcoin exceeded $60,000 for the first time, becoming one of the most valuable digital currencies in the world. At this time, the market value of Bitcoin has reached hundreds of billions of dollars, attracting more and more attention from institutional investors. Many large companies, such as Tesla and MicroStrategy, have begun to use Bitcoin as an asset allocation option. This trend has not only driven up the price of Bitcoin, but also made its position in the investment portfolio increasingly important.

It is worth noting that the rise of Bitcoin is not just a rise in price, but also its recognition as an asset class. According to the latest statistics, the market value of Bitcoin has exceeded 700 billion US dollars, making it the eighth largest asset in the world. This achievement not only reflects investors' confidence in Bitcoin, but also marks its growing position in the global financial system. In the eyes of many investors, Bitcoin is not only a speculative tool, but also an effective means to fight inflation and currency depreciation.

However, Bitcoin's road to success has not been smooth. Despite its rising market value, Bitcoin still faces many challenges. For example, regulatory uncertainty has always been an important factor that has plagued the development of Bitcoin. Governments have very different attitudes towards digital currencies, with some countries actively promoting the development of digital currencies and others taking restrictive measures. China announced a complete ban on Bitcoin mining and trading in 2021, a policy that has had a profound impact on the global Bitcoin market.

In addition, the environmental impact of Bitcoin has also sparked widespread discussion. Bitcoin mining consumes a lot of electricity, which makes it questionable in terms of environmental protection. Many experts have called for the digital currency industry to seek a more sustainable development model to reduce the impact on the environment. In fact, some projects have begun to explore how to use renewable energy for Bitcoin mining to reduce its carbon footprint.

Despite the challenges, Bitcoin continues to grow. More and more financial institutions are beginning to accept Bitcoin as a payment method, and many e-commerce platforms are gradually introducing Bitcoin payment options. This not only provides consumers with more choices, but also further promotes the popularity of Bitcoin. In addition, with the continuous advancement of blockchain technology, the scalability and security of Bitcoin are also constantly improving, making its potential in practical applications increasingly apparent.

Looking ahead, whether Bitcoin can continue to maintain its position as the world's eighth largest asset remains a question worth paying attention to. Market changes are changing rapidly, and investors need to remain vigilant and pay attention to the various factors that affect Bitcoin prices. In addition, as more institutional investors enter the market, Bitcoin price fluctuations may become more drastic. Investors need to be mentally prepared to cope with possible market fluctuations.

At the same time, with the continuous advancement of technology, the ecosystem of digital currencies is also constantly evolving. Bitcoin is not the only digital currency, and many emerging projects are constantly emerging to compete for market share. Although Bitcoin's status as "digital gold" is difficult to shake in the short term, in the long run, the rise of other digital currencies may also have a certain impact on Bitcoin.

In this context, investors should pay more attention to their own investment strategies. Bitcoin investment is not only a choice of asset allocation, but also a judgment on the future development of finance. With the popularity of digital currency, investors need to learn how to find their position in this emerging market.

On the fourth anniversary of the Bitcoin 312 incident, we look back on this history not only to remember the past, but also to look forward to the future. As an emerging asset class, Bitcoin's development process is full of opportunities and challenges. We should look at this phenomenon with an open mind and think about what role Bitcoin will play in the future financial ecology.

As Bitcoin continues to develop, more and more people are beginning to pay attention to investment opportunities in digital currencies. In this process, education and information dissemination are particularly important. Investors need to understand the basic knowledge, market dynamics and potential risks of Bitcoin in order to make wise investment decisions. At the same time, the government and industry organizations should also strengthen supervision of the digital currency market to protect the rights and interests of investors and promote the healthy development of the market.

In short, the rise of Bitcoin is a complex and fascinating story. It has not only changed the landscape of traditional finance, but also provided us with a new way of thinking. How the digital currency market will develop in the future is worth thinking and exploring for each of us. As Satoshi Nakamoto, the founder of Bitcoin, said: "My hope for the future is that digital currency will enable everyone to have their own wealth." In this era full of uncertainty, we need to embrace future challenges and opportunities with a more open mind.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120btC.coM): Bitcoin broke through the $71,000 mark this afternoon (11th), continuing to set new historical highs, bringing immense joy and excitement to the cryptocurrency market. However, while celebrating the market, investors who have participated in the market since 2020 are still deeply impressed by March 12th...
BTC halved by 50% in less than a day
Looking back at March 12, 2020, starting at 6:30 p.m., Bitcoin began to experience a waterfall-like plunge, starting from $8,000 to $6,800, then $6,500, $6,000, $5,000, and $4,500, with a decline rate of up to 5% per minute...
The sharp drop in prices was closely linked to the liquidation of a large number of long positions. The price of the contract market was lower than the spot market for a long time, causing confusion and suspicion in the market. As prices continued to fall, the stampede led to a series of liquidation events. Within 24 hours, the number of people who were liquidated on the entire network exceeded 100,000. The community recalled that the market was caught off guard at the time, and the screenshots could not even keep up with the speed of the decline.
Bitcoin Revenge, Four Years Is Not Too Late
In fact, in 2020, as the expectations of the US economic stimulus policy fell through and the market panic over the spread of the new coronavirus spread, not only the cryptocurrency market, but also the US stock market experienced a rare historical moment of "twice triggering the circuit breaker mechanism in a single week", and global stock markets were affected. The three major stock indexes in Europe and the Asia-Pacific stock market also fell to varying degrees. At least 10 countries' stock indexes triggered the circuit breaker mechanism...
Recently, the US economy has become more optimistic after the encouraging economic data in January. The active economic activities show the strong momentum of recovery. Under the background of economic recovery, inflationary pressure has gradually emerged, which has become a major challenge for economic policy. Although the Federal Reserve faces the difficulty of controlling inflation at the policy target of 2%, the overall economic environment is very different from that in 2020.
Returning to the cryptocurrency market itself, in the past four years, the cryptocurrency market has experienced countless ups and downs, from collapse to rebirth, and Bitcoin continues to convince the market to believe in it. With the continuous construction of the market, various tracks have flourished and exchanges have become more sound.
Now, after the Bitcoin spot ETF was approved in January, it has attracted a large amount of funds from the traditional financial market. Institutions with assets of up to hundreds of billions of dollars have opened the door to compliant channels to invest in BTC. In more than two months, it has brought $959 million in funds to BTC. Bitcoin has surpassed silver and become the world's eighth largest asset.
Armed with the two powerful weapons of Wall Street funds and the halving narrative, will it be Bitcoin's turn to take revenge on March 12, 2024, and make a massive upward attack to set a new high?
Bitcoin becomes the eighth largest asset in the world