Opinion: This round of the crypto bear market is not caused by a single factor; 15 major factors collectively led to a sharp downturn. On February 7, renowned Argentine economist and seasoned crypto trader Alex Krüger posted on social media that this round of the crypto bear market is not caused by a single factor. He summarized the 15 major factors driving the sharp downturn, which mainly include: "1011" major liquidation, cold stock market performance of treasury companies, quantum threats, AI substitution effects (capital, talent, and mining companies turning to AI), political risks of Trump, scarcity of innovation in the crypto industry, excessive incremental token supply, and the nomination of Waller as the new chair of the Federal Reserve, among others. This viewpoint was supported by Nic Carter, co-founder of Castle Island Ventures and the father of smart contracts, who believes that this crypto bear market should not be attributed to any single event, as many of the 15 major factors mentioned are quite tricky. $BTC