Jiang Zhuoer: The bear market of Bitcoin is created by the bull market.

On May 29, at the Bit Fawn Mining Ecology Conference, the founder of the Leipzig pool, Jiang Zhuoer, said that the bear market was created by the bitcoin bull market. The bullish temporary price has risen rapidly because of irrationality. For example, the first bull market for Bitcoin was June 2011, when the cumulative increase on the 60th was nearly 300%. The short-term rise is too fast. Newcomers will not be able to enter the market with new funds. The price of the currency will collapse from a height, and the bear market will begin.