Today 15 years ago: June 19, 2011 was the biggest flash crash in the BTC history

[JaanusRaim]

In June 19, 2011 happened the biggest flash crash in the Bitcoin history. It is remarkable that neither before nor after that day have been similar incidences with Bitcoin: BTC price fell from $17 to $0.01 and bounced back in minutes.

Here is one video ("Bitcoin flash crash 2011" from Lark Davis)  https://br.tradingview.com/news/u_today%3A73be1a13a094b%3A0-bitcoin-crashed-from-17-to-0-01-14-years-ago-today/
Every single second of its 429 seconds is full of interesting facts/emotions. Look at the Bitcointalk threads created during these historical minutes !

One of the biggest lessons I got from this incident was how huge can be the value of money in the right time and place.

[tbct_mt2]

In June 19, 2011 happened the biggest flash crash in the Bitcoin history. It is remarkable that neither before nor after that day have been similar incidences with Bitcoin: BTC price fell from $17 to $0.01 and bounced back in minutes.

Here is one video ("Bitcoin flash crash 2011" from Lark Davis)  https://br.tradingview.com/news/u_today%3A73be1a13a094b%3A0-bitcoin-crashed-from-17-to-0-01-14-years-ago-today/
Every single second of its 429 seconds is full of interesting facts/emotions. Look at the Bitcointalk threads created during these historical minutes !

One of the biggest lessons I got from this incident was how huge can be the value of money in the right time and place.

I don't know it is a biggest crash ever in Bitcoin market history but I don't care about it and with me there is no need of verification this information at all. What I noticed is over time, Bitcoin and its market have grown and become both bigger and stronger, that's enough for its future as well as for a Bitcoin enthusiast and investor like me.

Bitcoin's historical corrections from all time highs.

[Alpha Marine]

This was caused by the Mt. Gox hack, which led to its crash. I didn't know Bitcoin then, but I have read about it a couple of times since I've been in Bitcoin.
This is a prime example of how Bitcoin is. It is very difficult for it to stay down forever. There will always be people who believe in it, and they don't believe in it simply because it's bitcoin, but because of what it offers. I can't tell you of any altcoin today that will crash from $17 to $0.1 and still come back up to beat its ATH, but Bitcoin did more than that in a worst-case scenario.

I don't know it is a biggest crash ever in Bitcoin market history but I don't care about it and with me there is no need of verification this information at all. What I noticed is over time, Bitcoin and its market have grown and become both bigger and stronger, that's enough for its future as well as for a Bitcoin enthusiast and investor like me.

I think you should. Not that it should discourage you from Bitcoin, but you would understand its history and know how far it has come. This would, in turn, strengthen your conviction of the coin.

From the video, you can hear whoever it is say, "Were the critics right?"
Things will happen where you would question whether Bitcoin is actually too big to fail. There is a small chance, but I won't be surprised if something happens that makes Bitcoin crash to $20k. At that point, your conviction would be tested, and if you don't fully understand its history, you might be shaken.

[FinneysTrueVision]

I know people like to make redundant threads around similar topics, but you are just recycling your own topic from 4 months ago. Doing this is considered spam. It is better to bump your old thread and come up with something new to add to the discussion, rather than paraphrasing your older post in a whole new thread.

Here is one video ("Bitcoin flash crash 2011" from Lark Davis)  https://br.tradingview.com/news/u_today%3A73be1a13a094b%3A0-bitcoin-crashed-from-17-to-0-01-14-years-ago-today/
, that has to be the part of every economic study (under the "Economic crisis" discipline) and investment course.

Every single second of its 429 seconds deserves full attention because history does rhyme. It needs no additional comments.

Its only imperfection is that THIS crash was not fully "natural" battle between demand and supply side but was "artificially" created by a hacker.

[Livingleged]

According  to the video the crash was probably  because  of the Max Got. Hack,  and the hacker was  withdrawing every bitcoin  on the exchanges  wallet. That was a big crash definitely  from $17 to $0.01, crazy indeed I don't think most of us that are into bitcoin now would experience  such and still hold or believe  it will bounce back and even possibly  take a new ATH. Bitcoin  has gain more adoption  and It volatility  has reduced  significantly  Therefore  having  this kind of fatal crash again  might be almost  impossible.

I wish I was already into bitcoin  when this happened, I don't know if I would actually take advantage  of the situation  at that time, I was still seating  in the class learning physics and Math's, although  I still believe  some coin might have a similar  crash and also bounce back too. I suspected  Solana about a similar  crash but it keeps proving  me wrong all the time.

[Pmalek]

Bitcoin was still relatively new and therefore pretty small back then. The market cap was nowhere close to what it is today. The infamous Mt. Gox exchange had a significant portion of that supply, so it was only natural that both the good and bad coming from that exchange would affect the value of Bitcoin. As the years went by and Bitcoin's market cap grew, negative news and hacks didn't cause such disastrous price drops. We can only hope (for everyone's sake) that the community never again experiences another Mt. Gox.

Thanks for taking us back in history. Even though it sucked.   

[JaanusRaim]

According  to the video the crash was probably  because  of the Max Got. Hack,  and the hacker was  withdrawing every bitcoin  on the exchanges  wallet. That was a big crash definitely  from $17 to $0.01, crazy indeed I don't think most of us that are into bitcoin now would experience  such and still hold or believe  it will bounce back and even possibly  take a new ATH. Bitcoin  has gain more adoption  and It volatility  has reduced  significantly  Therefore  having  this kind of fatal crash again  might be almost  impossible.

I wish I was already into bitcoin  when this happened, I don't know if I would actually take advantage  of the situation  at that time, I was still seating  in the class learning physics and Math's, although  I still believe  some coin might have a similar  crash and also bounce back too. I suspected  Solana about a similar  crash but it keeps proving  me wrong all the time.

Yes, Bitcoin is a real asset now and the probability of reoccurring such crash is very small. But in altcoins - as you said - it will be probable in some favourable conditions (for example during stock market crash).