On February 7th, Alex Krüger, a renowned Argentine economist and veteran crypto trader, posted on social media that the current crypto bear market was not caused by a single factor. He summarized 15 major factors that drove the market downturn, including: the "1011" liquidation, the cooling of Treasury Company stocks, the quantum threat, the AI substitution effect (capital, talent, and mining companies shifting to AI), Trump's political risks, the scarcity of innovation in the crypto industry, excessive incremental token supply, and Walsh's nomination as the new Federal Reserve Chairman.
The above viewpoint was shared and supported by Nic Carter, the father of smart contracts and co-founder of Castle Island Ventures. Nic Carter believes that the current crypto bear market should not be attributed to a single event, and that many of the 15 factors mentioned above are quite thorny.
