The countdown to the U.S. election is on, and uncertainty looms over the market. The IMF warns that the world faces risks of low growth and high debt. According to recent news, since Musk publicly supported Trump, he has angered Bill Gates. Bill Gates furiously said, 'Please do not compare me with Musk; he does not deserve to be compared in the speed of wealth creation. He should not publicly support Trump. If he hadn't provoked me, I wouldn't support Harris.' Recently, Musk openly provoked Bill Gates, saying that Gates is afraid the Lolita Island list will be revealed and thus does not support Trump, implying that Gates is also on the list. Gates said he greatly admires young people becoming the world's richest, but Musk is particularly arrogant and unaware of his own limitations. It seems that two tigers cannot coexist; one is a former world richest, and the other is the current world richest, starting a showdown. Previously, Bezos halted the Washington Post, and now Zuckerberg openly supports Trump. UFC president Dana White has also come to support Trump. Many wealthy individuals are supporting Trump. Just yesterday, Biden, who has not been seen for a long time, openly criticized Trump supporters as trash and stated that Trump poses a threat to everyone. Trump generously said, 'Forgive him; after all, Biden doesn't even know what he's talking about.' This wave seems to favor Trump. There are still a few days left; although the Harris team is making efforts to rally votes, the current support rate is still lower than Trump's. It is highly likely that Trump will be elected. However, we fear that if Harris cannot win, their team may do something, like instigate wars or pandemics. I'll stop here; we'll wait for November 5th, and everything will be revealed. I also hope that by then, the U.S. can resolve its own economic recession issues. On November 1st, the U.S. unemployment rate will be released, which will reflect whether the economy is in recession. The U.S. presidential election is on November 5th, followed by a second interest rate cut on November 8th. We'll see if it's 25 or 50 basis points.
Now let's take a look at the market. The day before yesterday, Lao Shan also mentioned that Bitcoin and Ethereum would rebound. The market has been strong, with Bitcoin reaching a high of $72,794. Currently, Bitcoin is in a correction phase, hovering around $71,000, with key support at the $70,000 mark, followed by strong support at $68,000. The upper level is still focused on the $72,000 mark. As for Ethereum, it peaked at $2,724, with key resistance at $2,750. Currently, it's at $2,565, with key support at $2,500. It is also in a correction phase. Moving forward, Bitcoin and Ethereum need to chart independent trends. Bitcoin may face sideways movement, while Ethereum leads altcoins in an independent rally. This correction is just washing out some of the bullish positions. After the election, we may see a rebound, so be patient. After the election, we may enter a new phase; let's wait patiently!
The U.S. is about to start its second interest rate cut, and the economic war between China and the U.S. has also reached a boiling point. Now, more and more investors are entering the stock market. Let's see if the central bank follows up with a rate cut. Since the central bank cut rates, consumer spending has also increased. According to recent news, in October, the number of second-hand homes sold in Beijing may exceed 22,500 units. Real estate agents say that the communication costs are high, and the negotiation between buyers and sellers is intense, making more people need to buy homes. This year, BYD's revenue has also surpassed Tesla, with a revenue of 201.1 billion in the first three quarters, and a net profit growth of 11.7% year-on-year. BYD is also getting better, chasing this world-class competitor. Although China's stimulus for consumption has reached a certain level, it has not yet returned to its previous state. We need to see how much the central bank will cut rates. Lao Shan will analyze it for everyone. The last day of October is approaching, and the U.S. election is imminent. Those who got in earlier have basically made a profit. I hope everyone stays steady and waits for Lao Shan's notification. If you haven't gotten in yet, hurry up! If you have any questions, feel free to ask Lao Shan. I am Lao Shan, thank you for watching, silently guarding everyone like a mountain!
