17/06/2025
Here’s a look at some of the major
obstacles the crypto market has overcome over the years
and why that resilience is exactly what makes it stand out…
2011: The Mt. Gox Hack (First Major Blow):
One of the earliest blows came in 2011 when Mt. Gox,
then the largest Bitcoin exchange, was hacked and over 25,000 BTC was stolen.
It shook early adopters and cast doubt on the safety of holding crypto.
Despite the fear, $Bitcoin survived and continued to grow in adoption.
2013: China’s First Ban on Bitcoin:
In 2013, China issued its first major ban on Bitcoin, prohibiting banks from handling BTC transactions.
The market dipped, fear spread, but innovation didn’t stop.
People found workarounds, and Bitcoin began to be recognized as a decentralized force too big to ignore.
2014: Mt. Gox Collapse:
The final collapse of Mt. Gox in 2014 was devastating, 850,000 $BTC lost.
The crypto market entered a deep bear phase.
Trust in exchanges was shaken, but it also sparked the development of more secure platforms and the push for cold wallets and self-custody.
2017: The ICO Bubble & Crash:
The 2017 bull run saw Bitcoin reach nearly $20,000 and a frenzy of Initial Coin Offerings (ICOs) promising huge returns.
By early 2018, the bubble burst. S((ams were exposed, tokens failed, and over $600 billion in market cap vanished.
But from that collapse, serious projects with real utility began to emerge, laying the foundation for DeFi and Web3.
2020: The COVID Crash:
March 2020 brought a sudden market crash due to COVID-19 panic.
Bitcoin dropped to around $4,800.
Many thought crypto would die.
But instead, it triggered a new wave of interest.
By the end of 2020, institutional investors like MicroStrategy and Tesla were buying in, validating crypto on a global scale.
2021: China Bans Crypto (Again):
In 2021, China dealt another blow, this time banning crypto mining entirely.
Over 50% of the Bitcoin hash rate went offline.
The price dipped, but what happened next? Miners relocated globally,
decentralizing the network even further and making it more secure and robust.
2022: Terra-LUNA Crash & FTX Collapse:
2022 was brutal. Terra’s collapse wiped out billions, and FTX once seen as a pillar of trust collapsed in scandal.
Investor confidence was shattered, and the market tumbled.
Yet again, the industry adapted. Regulation discussions got serious, and calls for transparency grew louder.
2023–2024: Regulatory Pressures & Market Rebuild:
Through 2023 and into 2024, the market faced constant pressure from regulators especially in the U.S.
SEC lawsuits, delayed ETF approvals, and banking restrictions all caused uncertainty.
Still, builders kept building.
Layer 2s expanded, ETH staking grew, and innovation didn’t slow down.
From 2011 to today, the road has been rough, but also revolutionary.
The next hurdle will come, no doubt.
But if history tells us anything,
it’s that the crypto market doesn’t just recover, it evolves.
We don’t just bounce back. 🔥
We bounce back stronger!! 🔥🔥🔥🔥