Bitcoin did not crash that day. One of the main bitcoin exchanges (MTGOX) got hacked and the hackers dropped the price to a penny before the moderators shut down the site. All the trades of that day were reversed. The lowest bitcoin got to after the bubble of 2011 was $2.50; not a penny and especially not zero. There were a ton of complaints that the buyers of the failing price did not get to keep their coins.
Yes, Bitcoin is in a parabolic upwards trajectory which is bad new for any market. That is good reason to sell, but not because it had crashed because of poor security of a single exchange. The poor security had nothing to do with Bitcoin. Luckily, there are many more exchanges this time around.
“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”
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