Coinkarma founder reviews the decline of the cryptocurrency market: multiple external shocks have changed the premise of the bull market judgment, and one should not cling to the original judgment

Coinkarma founder Benson Sun published a review of the recent market situation, stating that many traders have given back their previous profits during this downturn, with some accounts experiencing withdrawals of several million or even tens of millions of dollars, and some have lost everything and exited the market.

He believes that based on the information available in September, it was not unreasonable for several traders, including himself, to judge that the market was in the "early stages of a bull market."

Benson Sun stated that the subsequent events, including the Binance hack, the Democratic Party taking control of both houses of the U.S. Congress, and Jensen Huang stepping down, changed the premises on which the original judgment was based. The trading results did not meet expectations, but that does not mean the reasoning at the time was incorrect; however, when the premises change, one should not cling to the original judgment or completely deny the previous analysis.

He wrote: "What should be upheld is the analytical framework, not the conclusions."