I believe everyone stayed up late to see if there will be an interest rate cut today, and whether it meets expectations. This morning, the person who is known for his bluntness, Powell, made a shocking statement. According to recent news, there is ongoing debate about whether the incoming Trump administration will establish a Bitcoin reserve. Federal Reserve Chairman Powell stated that the Fed has no intention of holding Bitcoin. Powell said at the press conference after the FOMC meeting: 'We are not allowed to hold Bitcoin.' Regarding the legal issues of holding Bitcoin, Powell mentioned, 'This is something Congress needs to consider, but we have no intention of seeking a change in the law.' As soon as this news broke, the market fell into a state of panic, with the U.S. stock market, gold, and crude oil all responding by dropping sharply. Both the stock market and the crypto market followed suit, and this news had a devastating impact on the crypto world. The most shameless part is that the four planned interest rate cuts next year have been reduced to two, which is even more fatal, completely denying Trump the opportunity to save America. Previously, Trump said he would make Bitcoin a national reserve currency, and Powell slapped Trump in the face directly. It is said that Powell will retire next month, daring to retire before Trump takes office. Trump has also previously stated that he will address the Federal Reserve after taking office and merge the Fed with the Treasury for unified national management. The Fed is essentially a private bank. Let's leave it at that. I believe everyone has seen that the U.S. has a debt of 35 trillion dollars. The U.S. has harvested some smaller allies like South Korea and Japan, but found it far from enough. Then came a physical debt elimination method, which is quite remarkable. Previously, the manager of the Rothschild family and the CEO of the largest insurance company in the U.S. were assassinated, and other wealthy individuals have disappeared one after another, with debts reduced by a large margin. This has given Trump more confidence to completely resolve the dangers of the U.S. economic recession.
Originally, Trump wanted to make Bitcoin the national reserve currency and then drive the price of Bitcoin higher, to a certain extent to harvest leeks, and then use that to buy low-priced gold and crude oil. This time, Powell made such a clear statement to create trouble for Trump before he takes office. Trump's character is the kind that seeks revenge, and he goes crazy for no reason. Look at the situation in the Middle East; he directly called for Iran to retaliate against them and declared war. Now the global situation is quite unstable, and I advise everyone to stay at home. Back to the topic, let's take a look at the market. Bitcoin has also been hitting new highs these days, peaking at around $108,300, and this morning it plummeted from $104,959 to $98,762, causing the market to fall into panic. Ethereum dropped sharply from $3,907 to $3,540, but fortunately, Bitcoin found strong support at $96,000, and Ethereum also had solid support at $3,400. Altcoins have dropped even more severely. Many people have been asking Lao Shan why Bitcoin is close to $110,000 while Ethereum is at $4,000 and altcoins are even lower. What kind of bull market is this? Bitcoin is correcting while Ethereum and altcoins are being slaughtered. A few days ago, I saw a joke saying that Bitcoin at $60,000, $70,000, and $80,000 could wait for altcoins, but now Bitcoin is almost at $110,000 and altcoins are still in the same dead state. Recently, there has been a lot of criticism directed at altcoins and Ethereum. Previously, during the bull market, Ethereum at least could keep up; now it is increasingly falling behind. The Ethereum Foundation has basically been selling, but the number of Ethereum holders is large enough to support it, and it has also reached over $4,000. Although it is not as strong as Bitcoin, most people have made money. The reasons for many altcoins' decline are mainly due to exchanges and some new coins from BlackRock, which led people to buy and then be harvested, ultimately leading everyone to buy Bitcoin. Because Bitcoin has a larger market share, its price is also higher. The most important support is from Trump; many institutions are buying. Don't be misled by the recent Microsoft vote that did not pass, claiming not to buy Bitcoin. In fact, shareholders are buying it secretly to profit!
Why can leeks only be cut and not pulled? Because leeks have a strong vitality; once cut, they can continue to grow. As long as they are not pulled out by the roots, ensuring they don't die, they can be cut indefinitely. There are also techniques for cutting leeks. First, fertilize them to let them taste the sweetness, and then they forget their worries and grow vigorously. When the time is right, start cutting them again. At this time, the leeks wonder if they did something wrong, but they do not realize that it is all orchestrated by capital. So, they are given a bit of sweetness, and the leeks grow wildly. In the end, after the last wave of cutting is done, I hope everyone can understand this statement. I find that many people get heated and rush in, but what is the final result? I believe everyone understands in their hearts, especially those who make over ten trades a day and feel itchy if they don't trade. In the end, they get taken away in a wave. Please control your mindset, find the right direction. The crypto world is not what it used to be. Clarify what you need and how to do it. Find the right direction. Lao Shan has been teaching students during this time and hasn't had much time to update. If there are any questions, you can follow Lao Shan's public account: Lao Shan 3. I am Lao Shan, thank you for watching!
