Sharp Altcoin Declines

Dated events

1. Jan. 7, 2018 · Total crypto market value peaks at $836B; 2018 altcoin sell-off begins
   Many smaller cryptocurrencies that had soared in value during 2017 crashed hard as investors lost confidence. Bitcoin fell too, but smaller coins fell much faster and further, with some losing 80-90% of their value.
2. Nov. 14, 2018 · Crypto sell-off ahead of Bitcoin Cash hard fork; Bitcoin falls below $6,000
   A disagreement among Bitcoin Cash supporters was about to split it into two competing versions the next day. Bitcoin Cash and other smaller cryptocurrencies dropped sharply as traders rushed to exit, while Bitcoin fell less.
3. May 12, 2021 · Elon Musk says Tesla will stop accepting bitcoin for car purchases
   Elon Musk announced Tesla would no longer accept Bitcoin as payment, and Bitcoin fell about 30% over the following week as China also warned against crypto. Smaller cryptocurrencies fell 50-70% in the same period as panicked investors sold everything they could.
4. May 11, 2022 · Terra collapse: UST stablecoin breaks its dollar peg, Luna token falls 80%
   The Terra blockchain and its Luna token crashed to near-zero value, wiping out billions in investor money. This triggered a wave of selling across smaller cryptocurrencies as people feared similar projects might fail, while Bitcoin held up better.
5. Nov. 8, 2022 · FTX hit by liquidity crunch, halts withdrawals; Binance agrees to buy it
   The major cryptocurrency exchange FTX suddenly ran short of money to pay customers and agreed to be bought by rival Binance, which pulled out a day later; FTX filed for bankruptcy on November 11. Smaller cryptocurrencies plunged 20-40% as traders rushed to withdraw funds from exchanges, while Bitcoin fell less sharply.

Assets named in this scenario · 48

AaveAlgorand (ALGO)Aptos (APT)Arbitrum (ARB)Avalanche (AVAX)Axie Infinity (AXS)Bitcoin (BTC)Bitcoin Cash (BCH)BNBCardano (ADA)Chainlink (LINK)Cosmos (ATOM)Cronos (CRO)Decentraland (MANA)Dogecoin (DOGE)EOSEthereum Classic (ETC)Ethereum (ETH)Filecoin (FIL)FlowHedera (HBAR)Injective (INJ)Internet Computer (ICP)Lido DAO (LDO)Lido Staked Ether (STETH)Litecoin (LTC)Maker (MKR)Monero (XMR)MultiversX (EGLD)NEAR Protocol (NEAR)OKBOptimism (OP)PepePi Network (PI)Polkadot (DOT)Polygon Ecosystem Token (POL)Quant (QNT)Shiba Inu (SHIB)Solana (SOL)Stellar (XLM)The Graph (GRT)Theta Network (THETA)Toncoin (TON)TRON (TRX)Uniswap (UNI)VeChain (VET)Wrapped Bitcoin (WBTC)XRP

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