Black swan event

A black swan event refers to an unpredictable event that has never happened before, that has such a major impact (often economic) that all existing expectation models can be thrown in the trash. Examples of black swan events include September 11th, 2001 attack on the World Trade Center and the COVID-19 pandemic. Crypto enthusiasts often use this term to draw attention to risk diversification and not place too much emphasis on more detailed expectation models.

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Cryptopedia: Black swan event