July 16, 2024 Grandpa checks in

At yesterday's Republican Convention, Trump announced that J.D. Vance will run in the 2024 presidential election as his vice presidential candidate, and the Republican National Convention also approved the nomination. Subsequently, many well-known figures in the political and business fields expressed their congratulations, including Musk. Unlike Trump's purposeful friendliness towards cryptocurrencies, J.D. Vance, 39, is a pure cryptocurrency supporter. If Trump is successfully elected, the next four years may be the most cryptocurrency-friendly term.

J.D. Vance has put a lot of practice into cryptocurrency. As early as 2022, he was successfully elected as a federal senator in Ohio with his friendly stance on cryptocurrency, and actively advocated a more relaxed regulatory approach to digital currencies. Just last month, J.D. Vance said he had drafted a draft bill on reforming the way digital currencies are regulated. J.D. Vance himself is also a Bitcoin holder. Public data shows that he held $100,000 to $250,000 in Bitcoin in 2022, and the amount that is not disclosed will be even more. Therefore, for cryptocurrencies, the policy spring may really be coming.

The most recent good news is that Trump has confirmed that he will attend the Bitcoin Conference on July 25 and will give a speech at the conference. If the series of crypto-friendly words are for votes, then the nomination of J.D. Vance is to put it into practice. We can look forward to the speech at the Bitcoin Conference and the future crypto-friendly policies. For Bitcoin, the only factor that will determine the future value increase is whether new funds enter the market, and policies are the key factor in determining the funds of consortiums and institutions.

Another recent good news is that the launch time of Ethereum's spot ETF is basically confirmed to be next Tuesday, and the recent market has already responded. As for the short-term market, there was a correction today. I also reminded the group as soon as possible this morning that the pressure level of 65,000 still needs to be consolidated. What is more certain is that after a continuous rebound, the previous support of 55,000 has been confirmed, and the overall stage market has begun to improve. The big cake has experienced a 10,000-point counterattack in just 10 days, which means that funds are intervening to buy at the bottom.

Thank you for your attention and likes.