May 1, 2024 Grandpa checks in
Today is May Day, which should be a day for traveling or reunion, but there is bad news. In the early morning, the Meida Expressway collapsed, causing 20 vehicles to fall. As of now, the death toll has risen to 24, and another 30 are being rescued in the hospital. In recent years, in addition to often hearing people lamenting the bad economic situation, various natural disasters and man-made disasters are also often heard. This major accident has made dozens of families unable to let go. They always thought that there was a long way to go, but they no longer have tomorrow. In fact, sometimes I really think that we should cherish the present and live every day well. This is the most important thing.
The news related to B Circle is that CZ's final sentence has come down, with a 4-month prison sentence. For CZ personally, this is a good ending, at least compared to the 3 years previously rumored. After the dust settled on this iron fist, CZ posted a message to thank everyone for their concern and support, and will start his next stage of education after completing his sentence. After this wave, I believe that BN's compliance will be better, and I also hope that B Circle's stable trading platform can be truly stable. Otherwise, while everyone is worried about market fluctuations, they also have to worry about asset security, which is very troublesome.
This time CZ was sentenced to four months, but for the market, it was like a four-year sentence, the bull market ended. In this wave of decline, Bitcoin broke through 60,000 and Ethereum fell below 3,000, which was the biggest retracement in this bull market. At 70,000, I said that the market was likely to experience a wide range of shocks and retracements, so the previous wave of market crash was prepared, but this wave of support breaking was a little unexpected. According to our judgment, Bitcoin broke 60,000 but did not rebound sharply, and the market will go through a wave of shocks and declines, so we must be mentally prepared for the next step.
In fact, in general, the current market is not so panic and pessimistic. In particular, the US stock market has also encountered resistance and fallen back from a high level, and there has been no large-scale plunge. Bitcoin fell 5 points today, which is basically a decline in the US stock market. As for the decline of the cottage, it also corresponds to its increase. This possibility already exists when chasing the rise at a high level. Therefore, I have mentioned many times that everyone should gradually replace the cottage with Bitcoin and Ethereum. In the next market, it is expected that there will still be repeated fluctuations, but the overall market may have a process of bottoming out. I will continue to execute band operations, and those who are trapped will be converted into long-term chips. As for where the bottom will be, we can only wait and see.
Thank you for your attention and likes.
