Market · March 12, 2020
Black Thursday — BTC drops 50% in a day
Price at event
$4,970
Today
$73,525
Since then
×14.8
Global liquidity crunch as COVID lockdowns begin. BTC plunges from ~$7,900 to $3,800 in 24 hours. The bottom of the cycle-3 unwind. Peter Schiff calls it dead. It was up 18× within 20 months.
⸺ Sources ⸺
- primaryMulticoin Capital — March 12: The Day Crypto Markets Broke (contemporary primary analysis, Mar 17 2020) ↗
- referenceWikipedia — History of bitcoin (documents the ~50% / 25%-in-24h March 2020 COVID crash) ↗
- newsDecrypt — Bitcoin's Black Thursday: One Year Later (BTC fell ~50% to $4,600 on Mar 12 2020) ↗