First documented in January 2015 on Twitter. Currently active and in regular use across social platforms since 2015.
Sudden severe market decline (10%+ in days/weeks). Causes: black swan events, panic selling, leverage unwinding. Famous: 1929 (-89%), 1987 Black Monday (-23% one day), 2008 (-57%), COVID 2020 (-34% in 23 days). VIX spikes, circuit breakers triggered, forced liquidations. Buying opportunity for those with cash. Psychological: herd panic > fundamentals. Recovery: V-shaped (2020) vs L-shaped (2008).
Sources: Market data, cryptocurrency tracking sites, financial news
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