Information on the crashes

[bowen151]

Hi guys.

Normally not one to frequent he speculation board but im here now so why not learn.

Could I get some information on the previous crashes, like when they took place, why the occured and for how long they affected the market and also does anyone know whats going on with the price over the past few days. Was there any big(ish) announcements about new players or anythign like that.

Cheers

[1715127994]

1715127994

[Luno]

I would be nice in there was a book "Bitcoin - the early years", but most of it is aound the net, the rest of it here. The earliest post of this forum are on archive and can be requested. Googling "Bitcoin crash". There are 500+ articles and fora where the crashes are mentioned.

 It would be nice with a summerized historical up to date wiki page. But everything is around still, just dig.

[phatsphere]

Could I get some information on the previous crashes,...

you have to get hold of one of the earlier bitcoin magazines. they have historical summaries.

[Third Way]

I was there when MtGox got hacked, and when bitcoins where selling from $30 to $32, but that was over a year ago.

[deepceleron]

I was there when MtGox got hacked, and when bitcoins where selling from $30 to $32, but that was over a year ago.

Well over a year ago...

Here's 18 months, today's exchange rate hasn't been seen in that long.




There was only one big (real) market crash, in May-June 2011, mainly fueled by the MtGox hack and magical disappearance (and selloff of stolen funds?) of mybitcoin.

[Ichthyo]

...also, there was a smaller cash last fall (aug/oct 2012), happening at the time when it became clear the "pirate invesment scheme" will probably not cover any withdrawals. At that time it was even speculated that the preceding rally and the following crash was a "pump and dump", staged by the person(s) behind the "pirate" scheme. Of course, there is not much hope such speculations can ever be bacekd by facts.

[Desolator]

The short version is they were all from major thefts.  These days, you'd have to steal A LOT more BTC to crash it like that instantly.  Last time someone stole like 20,000BTC or something, that was enough on MTGox to drop the price like $0.15 or something.  Back in the day, with not that many floating around, it zeroed out the price (well, $0.01)

[lucif]

Oh, I see people start to figure out real resistances keeping price low...