March 29, 2024 Grandpa clocked in
The SBF sentenced it to a total of 25 years. The general consensus is that the sentence was too light. After all, the funds involved in this case were huge and the involvement was wide. The most important thing was that the impact was too bad. They regarded the supervision of the United States as child's play, and it was under their noses. Misappropriation of user funds also resulted in losses. However, the reason for the relatively light sentence is probably that SBF’s father has something to do with it. In addition, FTX has invested in a large number of projects and the funds retained by the previous platform. In the bull market, the return rate and total market value can already cover the shortfall.
In fact, the most important thing in financial cases is to maintain stability and recover funds. The collapse of FTX will indeed cause a heavy blow to Circle B. However, FTX users are all over the world, and the funds from American users only account for a part, and Circle B users have to protect their rights. Not many, so this case only has a significant impact on public opinion. In addition, in terms of funds, because it was in a bear market decline cycle, the frozen crypto assets have increased several times today. In other words, based on the U loss at that time, it was enough to repay the user's principal. But from a personal point of view, I also think the sentence is light. After all, someone around me lost money overnight because of FTX, and the loss was not caused by himself. This B-circle cancer should be sentenced to at least 100 years.
There is nothing special about the market. The market did not break through the range this week. Although Bitcoin once again stood at 70,000, it still remained under pressure. The good news is that the trend of lower highs that I mentioned before has been broken, which means that the previous daily low support has become stronger, and Bitcoin's strong support is at 60,000. As for whether Bitcoin can break through 73,000 to reach a new high, judging from this trend and market sentiment, the probability of touching the previous high in a short period of time is still very high, but it is difficult to have another wave of main rising waves. Therefore, if Bitcoin continues to rise, we should continue to reduce our positions, especially those who did not sell or buy back in the band before.
The weekend market will continue to have low volatility. If it still does not break through the previous high pressure next week, then we should treat it with caution. Anyway, when the market has reached this range, I have mentioned caution many times. I will definitely not clear my position, but I will not add a heavy position for the time being. Maybe my judgment will be wrong, but I don’t want to lose money because of panic or lack of bullets when the opportunity comes. Don't dare to add positions. Objectively speaking, tariffs have quietly increased recently, and the market will not fall easily. I am more preparing in advance.
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