Within two days, Bitcoin experienced a massive price correction.
Within two days, the value of altcoins was drastically cut in half.
The contract players who were scared to death yesterday finally fell asleep, but when they woke up today, they saw the sky falling again. Bitcoin fell by $5,000 again. It finally recovered above $102,000 yesterday, and today it went straight to 97,000.
300,000 people across the entire network had their positions liquidated, with the amount exceeding 1 billion US dollars.
The leading copycat brands, doge and sol, were also greatly affected, not to mention the rest of the copycat brands.
The reason for yesterday’s plunge can be attributed to Powell’s speech, but the investors are still confused as to why the market fell today.
So someone made a picture of Bao Shifu as Salt Bae:
This raises a question: Who is more important, Powell or Trump?
On one hand, the US President strongly supports Bitcoin, while on the other hand, the Chairman of the Federal Reserve is determined not to touch Bitcoin.
The market is also worried that if Powell continues to maintain his opposition in the future, will it cause great resistance to Trump's encryption cause?
Someone asked, can't the president fire Powell?
Sorry, you really can't, because the president cannot control the Federal Reserve. Strictly speaking, the Federal Reserve is a private institution and is independent of the US government.
Powell also publicly stated that he would not resign.
The two sides are at loggerheads, casting a shadow on the future of cryptocurrencies and perhaps the main reason for the decline in the past two days.
But in Juzuo’s opinion, the market has actually overreacted a bit. We all have a bright future.
Orange seat said his own opinion:
First, it is normal for the Federal Reserve not to accept Bitcoin, but it is abnormal to accept Bitcoin.
Expecting the Federal Reserve to accept Bitcoin is like asking Powell to sell his wife.
What does the Federal Reserve do? Print dollars.
What is Bitcoin for? Anti-fiat currency.
The creation of Bitcoin is to fight against the increasing amount of legal currency being printed in the world. As the US dollar is the most widely used legal currency in the world, do you expect them to accept Bitcoin?
It's like you've been cheated on. What embarrasses you is that your wife is cheating on you, and what makes you even more embarrassed is that everyone knows that your wife is cheating on you.
Then now not only has everyone else found out about it, but you also have to admit that you are a cuckold.
I just ask you if you can bear it?
This is the situation the Federal Reserve is facing now - it knows that it has been cheated, but it is too embarrassed to publicly admit that it is a cuckold.
What a coincidence, the US dollar is also green. Did you know that there will be a day when you will be greened?
Second, Trump’s determination has not changed.
Although he did not get Powell's support, Trump, as the incoming US president, still has very broad authority, especially in the expansion of cryptocurrencies, which is enough to implement his ideas.
Don't forget that the SEC, once the public enemy of the cryptocurrency circle, will not only not come to blackmail us again, but may instead become a boost to the crypto community. Cryptocurrency is expected to complete the foundation of its establishment during Trump's term.
With the strong support of Musk and a group of cryptocurrency giants, cryptocurrency will surely become more deeply integrated into the lives and investments of Americans in the next four years.
Third, the wave of cryptocurrency is already sweeping the world.
I have said before that the president of the most powerful country in the world and the president of the country with the largest land area in the world both support Bitcoin. If we add the support of other sovereign states and various forces, Bitcoin will be accepted by more and more people in the future.
The spark has already spread like wildfire. Any negative views will no longer work. Any opponents will be crushed by the wheels of history. This is the law of history and cannot be changed by human will.
Finally, I will tell you something very secretive, which is why rich people are buying Bitcoin. It is also a very simple math problem:
Suppose you are a billionaire with a net worth of tens of billions. Although you are very rich, your assets are being eroded by hyperinflation, and your assets are also subject to regulation, making it inconvenient for them to flow freely.
Now if you want to get around these annoying rules and be able to beat inflation at the same time, you may find that Bitcoin is the only magical product that meets your needs.
The larger the amount of funds, the greater the need to fight inflation.
The most fatal environment now is that the speed of currency over-issuance is getting faster and faster, but asset prices have not risen. People are unable to follow the past investment logic to buy physical assets and can only go for value preservation and safe-haven assets. Whether it is a sovereign state fund or a wealthy person, they cannot resist the temptation of Bitcoin.
You ask why poor people don’t think this way?
Because their asset level has not yet reached the point where they need to consider such things.
On the contrary, the more they raise the price of Bitcoin to a level that they cannot afford, the more they can consolidate the purchasing power of their wealth.
This is the underlying logic why giants, wealthy people and even countries use Bitcoin as a strategic reserve, but they don’t want the general public to understand this secret at all, so they will suppress it while secretly buying it themselves.
If you also hold Bitcoin, it only means that you have made the right choice like most smart people in the world, because most idiots are still questioning whether this is a scam.
When I finished writing this article, Bitcoin started to dive again, but will you still panic?
Don't be afraid, we all have a bright future.
I am Ju Zuo, your crypto asset recovery expert, the man who can help you get rich.