Review of the "312" in the Crypto Assets Market: From Panic to Growth

On March 12, 2025, the Crypto Assets market experienced another severe fluctuation, reminding people of that unforgettable day five years ago. On March 12, 2020, the price of Bitcoin plummeted from around $8,000 to $3,800, a single-day drop of over 50%, with hundreds of billions of dollars in market value evaporating, leaving countless traders severely impacted.

Since then, "312" has become an important symbol in the Crypto Assets world. Every year on this day, industry participants reflect on the past and look to the future. Let's take a look at the significant events and market changes that have occurred in the following years for each "312".

March 12, 2021

On this day, the price of Bitcoin has rebounded significantly from the low point of March 12, 2020, breaking through $58,000 and setting a historical high at that time. The market sentiment has undergone a huge shift:

• Some large enterprises have begun investing in Bitcoin and are considering accepting Bitcoin as a payment method.
• The U.S. government has launched a large-scale economic stimulus plan, which has had a positive impact on assets such as Bitcoin.
• Bitcoin is increasingly seen as "digital gold" and is considered an effective tool against inflation.
• Decentralized Finance (DeFi) and Non-Fungible Tokens (NFT) have started to rise, driving up the prices of ecosystem tokens like Ethereum.

March 12, 2022

The price of Bitcoin is hovering around $40,000, which, although it has declined from the high point of the previous year, is still well above the low point in March 2020.

• Traditional financial institutions are actively recruiting professionals in the digital assets field, indicating a growing interest in Crypto Assets.
• Some countries are beginning to explore taxing NFT transactions, indicating that regulatory agencies are keeping pace with emerging technologies.
• Crypto Assets trading platforms have shown an independent stance in the face of geopolitical pressures.
• Although the overall market has entered an adjustment period, emerging fields such as NFTs and GameFi remain active.

March 12, 2023

In this year "312", the price of Bitcoin is around 22,000 USD, and the market is overall in a bear market cycle.

• The collapse of a well-known bank has shaken the global financial markets, significantly impacting certain stablecoins.
• The stablecoin issuer quickly took action, promising to use company resources to maintain the stability of the coin value.
• Some central banks in certain countries have started to allow limited purchases of Crypto Assets, indicating a gradual relaxation of regulatory attitudes.

March 12, 2024

The price of Bitcoin has surpassed $70,000, setting a new historical high again.

• Market confidence has significantly increased, driving the price of Bitcoin to break through a new psychological barrier.
• Some financial institutions have released reports predicting that the price of Bitcoin may reach $150,000 within the next year.
• Traditional financial markets have also seen some changes, such as the German 10-year government bond yield reaching a recent high.

March 12, 2025

The price of Bitcoin has pulled back, falling below $80,000 and reaching a low of $76,000, with the total liquidation amount across the network reaching $120 million.

• The U.S. securities regulator has postponed approval decisions for several Crypto Assets-related products, increasing market uncertainty.
• The US inflation data was lower than expected, which had some impact on the market.
• A large transaction on a derivatives trading platform ultimately resulted in over $300 million in settlements, triggering market volatility.

It is worth noting that some trading platforms organized the "312" five-year anniversary event, reflecting on the profound impact this event had on the Crypto Assets market. Many seasoned participants shared their lessons learned, emphasizing the importance of risk management.

Looking back at the "312" of the past five years, we can see that while the extreme market conditions of 2020 may be difficult to replicate, the lessons brought by "312" are still worth remembering. On this day each year, the Crypto Assets community reflects on the past, analyzes market changes, and discusses the future development direction of the industry. This collective memory and reflection is the driving force behind the continuous growth and progress of this young industry.