And the day that shaped Bitcoin.Bitcoin crashed on March 12, 2020.It hit $3,600 on BitMEX.The world was dealing with the initial economic impacts of the global COVID pandemic, and the crypto market was one of many casualties.Let\u2019s Qualify What We Mean by \u201cCrashed\u201dIn the year prior to March 12\u201313, 2020, Bitcoin was trading in a range between roughly $5,000 and $12,000.In the immediate months leading into March 2020, it was trading in a tighter range between about $7,000 and $9,000.While it did see a massive correction in the COVID March 2020 lows, Bitcoin was by no means decimated.One Year LaterTraditional financial markets crashed and rallied since the start of COVID. So has Bitcoin and the cryptocurrency market. The \u201cmain street economy\u201d is another story\u2026One year after March 12, 2020, Bitcoin has eclipsed a $1 trillion market cap on multiple occasions and has done a 15X in terms of unit price.Bitcoin is the fastest horse.It continues to live up to the billing as the best performing asset of the last decade \u2014 in spite of the March 2020 crash.Want more content like this? Sign up for my newsletter.What Did the Crash Mean?The March 12th crash was a stress test for Bitcoin.Why did Bitcoin crash?Traders in the global equity markets sold off across the board. COVID FUD prompted a retreat to cash.Increased volatility accelerates liquidation.On March 12th, lenders were also forced to liquidate collateral. The transaction volume on the blockchain became congested, and we haven\u2019t even gotten into the problems that shook DeFi on March 12.The nascent cryptocurrency market was put to its most significant test since Mt. Gox. Some might consider it a failure, depending on the exchange you were dealing with or DeFi altcoin or protocol you were using.But one year out from March 12, 2020, Bitcoin looks very different\u2026<\/p>","protected":false},"excerpt":{"rendered":"
And the day that shaped Bitcoin.Bitcoin crashed on March 12, 2020.It hit $3,600 on BitMEX.The world was dealing with the initial economic impacts of the global [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/3863"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=3863"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/3863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=3863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=3863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=3863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}