November 8, 2024

In the past two days, everyone has noticed something: CCTV has reported on Bitcoin again. Unlike previous criticisms, attacks, and warnings about risks, this report is relatively objective, mentioning that Bitcoin has broken its historical high of $75,000, with wording that even shows a hint of envy. As a financial asset, it is not an exaggeration to say that Bitcoin is the greatest creation of the 21st century, after all, its returns have outperformed any single asset, and early steadfast holders have also achieved a leap in social class as Bitcoin's price has risen.

The emergence of new things generally follows this pattern: any innovation will affect the cake of vested interests, and naturally, it will face various suppressions and killings. If it cannot survive, it will be eliminated by competitors. Various suppressions are both a kind of honing and a manifestation of capability; only after this can one know whether they truly possess strength. Over the years, Bitcoin has followed this path; whether it is the approval of ETFs or the change in CCTV's attitude, these are direct manifestations.

In terms of market trends, after significant positive news for Bitcoin, there has not been a major pullback, indicating that funds are choosing to continue betting on the implementation of Trump's policies. He has stated that he wants to fire the SEC chairman, and if he really fulfills some of his promises, Bitcoin will rise further. Additionally, a new interest rate decision will be announced tonight; if interest rates continue to be lowered, it will undoubtedly be another good thing for the capital market. The market expectation is a moderate 25 basis points, which can still be accepted even if so.

However, in the short term, if Bitcoin does not continue to reach new highs, I believe it is still necessary to pull back a bit, but even so, it won't be too deep, possibly testing around $72,000 to $73,000, so there is no need to swing trade. The current market is very good, ETH has also reached $2,900, and SOL has even broken $200. When Bitcoin shows strong performance, the overall market has also seen a rebound. If you don't have many positions, just hold onto your coins without moving, and wait for the market to show some FOMO signals before continuing to reduce your positions.

Thank you for your attention and likes.