According to Charles Edwards (@caprioleio), four years ago China shut down 50% of the Bitcoin mining network overnight, causing Bitcoin to plunge from $46,000 and approach $29,000 within days (source: Twitter, May 16, 2025). This event led to a temporary hash rate drop and sharp price correction, but also demonstrated Bitcoin’s resilience and the rapid global redistribution of mining power. Traders can compare today’s undervalued and progressively adopted Bitcoin environment to 2021’s crisis, highlighting stronger fundamentals and broader institutional adoption as bullish signals for long-term positions. The historical price movement underscores the importance of monitoring regional regulatory actions and their impact on crypto market volatility and miner migration.