23	When there is a bubble in the cryptocurrency market, some typical market characteristics and indicators can be used as judgment bases. For example, extremely high price - to - earnings ratios (if applicable) for some tokens, a large number of new and unproven projects with sky - high valuations, and a significant increase in trading volume accompanied by rapid price increases without a corresponding fundamental basis. Additionally, a large number of retail investors entering the market in a frenzy can also be a sign of a potential bubble.