Commentator: This plunge is a sign that the market is entering a new round of bear market

Financial commentator Xiao Lei believes that this plunge is a sign that the market is entering a new round of bear market. The previous bear market was caused by the decline in investor confidence and the sell-off caused by profit-taking. This round is obviously caused by the break in the capital chain of blockchain industry entrepreneurs and practitioners, which has caused a fierce sell-off of previously raised digital currencies such as Ethereum, which can also be seen as a run on the primary market. (Beijing Business Daily)