Beware of Black Swans Before the Surge

Although Bitcoin has risen to over 69,000 in recent days, there haven't been many altcoins taking off. Meanwhile, A-shares, Hong Kong stocks, gold, and silver are all rising, with gold continuously breaking new highs. The U.S. stock market has begun to move sideways at high levels. The BRICS countries meeting will be held in Kazan from the 22nd to the 24th, with a combined GDP of 60 trillion USD. One of the topics they're discussing is related to a currency settlement system, primarily led by Russia to create a BRICS settlement system, no longer relying on the U.S. dollar. If a consensus is reached, a large amount of dollar assets could be abandoned, and the U.S. dollar, U.S. stocks, U.S. bonds, and banks may face a significant blow, making a black swan event very likely. Let's see how the Americans will respond.

If the meeting reaches a consensus and takes action, let's reason it out: on the 24th, after the meeting ends, during the day, the Asian market receives news that pushes A-shares up, while in the evening, U.S. stocks and bonds are hammered, followed by withdrawals and currency exchanges. On the 25th, the day continues in the same manner, and in the evening, the Americans intervene to stabilize the market. If there's a chain reaction over the weekend and the impact of the event is significant without countermeasures, then cryptocurrencies may struggle to gain traction before the election. However, it will also lead to a larger U.S. dollar inflation and continuous depreciation of the dollar, making it more likely for Bitcoin to reach one million dollars.

The big one is coming, the US dollar hegemony will face a major blow, and the BRICS payment system meeting is about to begin.
The BRICS Payment System (BRICS Pay) is a new payment and settlement system developed by the BRICS countries to strengthen financial cooperation and reduce dependence on the existing international payment system. According to the latest news, the BRICS payment system has entered the demonstration stage and is expected to be officially launched before the end of 2024. The establishment of this system aims to promote trade and investment among BRICS countries, and is also a supplement and potential challenge to the existing international payment system.
The 16th BRICS meeting will be held in Kazan, Russia, from October 22 to 24, 2024. This is the first summit after the expansion of BRICS. At this summit, the BRICS payment system is expected to be one of the key issues discussed. The influence of the enlarged BRICS countries in the global economy has significantly increased, and the new payment system is seen as a powerful guarantee for promoting the economic development of member countries and may change the global economic landscape.
The establishment of the BRICS payment system is considered to be a challenge to the hegemony of the US dollar and will help reduce member states' reliance on the US dollar in international trade, thereby providing more secure and diversified payment methods. In addition, the launch of the payment system is also expected to accelerate the internationalization of the RMB, as the RMB has a unique status among the currencies of the BRICS countries.
At present, the specific details of the BRICS payment system and the list of participating countries have not yet been fully announced, but as the summit is held and the system is gradually rolled out, more information is expected to be disclosed. Investors and market analysts are closely watching the development of this new system and the business opportunities and financial market movements it may bring.
#BTC要挑战7W大关了吗？ #金砖国家支付系统

$BNB
Brothers, A10JQK is here again to give you an interpretation of today’s major events in the currency circle! Today’s market is really lively. Let’s take a look at it one by one:

🃏 The BRICS countries are going to do big things! Prepare to develop your own payment and settlement system, this is to challenge the hegemony of the US dollar!

♦️ There is new progress in the lawsuit between Ripple and SEC! A Forbes reporter broke the news that the SEC may appeal against Ripple. This tug of war is not over yet!

♠️ The SEC won the battle! Partial victory in $600,000 ICO case against blockchain company Opporty. The SEC is going to fully close the net!

♥️ The central bank has made another big move! Starting from September 27, the deposit reserve ratio of financial institutions will be reduced by 0.5 percentage points. This is to inject water into the market!

♣️ The U.S. Department of Justice takes action! The names of crypto exchange function variables related to $2.5 billion in illegal transactions were seized. This is a comprehensive crackdown on illegal transactions!

🃏V God has enlarged his moves again! It is said that robot market making DEX is a cross-application of encryption and artificial intelligence and has broad prospects. This is to introduce AI into DeFi!

♦️ Zhao Changpeng will be released early! Fortune magazine broke the news that he is coming out today and may rejoin the crypto industry next. The founder of Binance is making a comeback, which is going to set off a new round of storm!

♠️ Santiment analysis said that traders do not care much about Ethereum network fees, and the increase in fees may now be driven by DeFi activities. It seems that DeFi is going to be hot again!

Brothers, there are so many big news, which one are you most concerned about? Is it the ambition of the BRICS countries or Zhao Changpeng’s comeback? Or is it V God’s vision for AI+DeFi? Come and chat in the comment area!

A10JQK continues to bring you the latest and hottest currency news. See you in the next issue!

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