Google search volume for Bitcoin is back to 2020 levels. The U.S. import price index in September was 0.1%, lower than the previous value of 0.5% and lower than the expected value of 0.5%. Underlying inflation remains benign. Entering the third quarter financial reporting season, JPMorgan Chase’s Q3 revenue increased by 22% year-on-year, raising its full-year performance guidance; Citigroup’s Q3 revenue increased by 9% year-on-year, and investment banking business revenue increased by 34% year-on-year; BlackRock’s Q3 net profit increased by 13% year-on-year %; Wells Fargo’s Q3 revenue increased by 6.6% year-on-year. OPEC raised its forecast for global economic growth in 2023 to 2.8%. The discount rate of Grayscale BTC Trust Fund GBTC has narrowed significantly from 43% in June this year to 16.5%, and confidence in the approval of spot ETFs has gradually increased. Back to business: In a new report, the House of Commons Culture, Media and Sport Committee has issued a stark warning against the use of so-called fan tokens by football clubs. "Any measure of fan engagement in sport, including the forthcoming football regulations, should The use of fan tokens is clearly excluded." Ruan Guoheng, deputy president of the Hong Kong Monetary Authority, said that the relevant design work on the stable currency regulatory system is still in progress. After completion, market opinions will be solicited before formal legislation. When developing the crypto-asset business in Hong Kong, it should focus on the possibilities brought by technology platforms, emphasizing that distributed ledger technology (DLT) and tokenization technology are beneficial to the operation of the entire financial market. New technologies bring risks as well as opportunities. Buffett's Berkshire previously invested in Nu Holdings, the parent company of Brazilian digital bank Nubank, and its stock price has soared 93% this year. According to analysis by data provider CCData, Coinbase's spot trading volume is approximately US$76 billion, a year-on-year decrease of 52%, which is the lowest level since Coinbase was listed on Nasdaq in 2021. Payment giant Mastercard announced that it has launched a new functional solution that can support CBDC (Australia) to be tokenized on different blockchains, provide consumers with more payment options, and support CBDC holders to purchase ETH public areas NFTs listed on the blockchain. 21co reports that by 2030, the market value of tokenized assets will reach $10 trillion in a bull market scenario and $3.5 trillion in a bear market scenario. This market value is derived from the penetration rate of the overall addressable market of various asset classes, including Non-financial corporate debt, real estate funds, private equity, securities collateral, trade finance and public debt securities.A survey by the Investor and Financial Education Committee under the Securities and Futures Commission (SFC), Hong Kong’s securities regulator, stated that 8% of retail investors in Hong Kong invested in some kind of crypto-assets in 2023, significantly higher than the 1% in 2019 Increase. 6% are involved in NFTs and 2% are involved in stablecoins. 11% of investors surveyed expressed interest in investing in virtual assets or related products in the next 12 months. The FEC report highlights the growing trend. The U.S. import price index in September was 0.1% monthly, lower than the previous value of 0.5% and lower than the expected value of 0.5%. Import price index was lower than expected and underlying inflation remained moderate. The overall CPI announced yesterday was slightly higher than expected at 3.6%, while the core CPI remained down at 4.1%. Fed Harker said: The Fed prefers to observe core inflation indicators rather than overall inflation indicators. Inflation is expected to decline steadily and will fall below 3% this year (2% is the terminal target). Price pressures continue to weaken and may have been completed. rate hike. The swaps reduce the likelihood that the Fed will raise interest rates this year after Harker reiterated his call to keep interest rates unchanged. A New York Fed survey showed that large banks expect the Fed to stop shrinking its balance sheet in the third quarter of next year. Danske Bank: Potential inflation and wage growth in the United States have begun to slow down, and inflation rates in the United States and the Eurozone are likely to decline in 2023. We believe that most Western central banks have now ended their respective interest rate hike cycles. The nine members of the Federal Reserve who spoke out publicly this week almost have the same view: The surge in U.S. bond yields is helping the Fed to tighten the market and has the effect of raising interest rates without actually raising interest rates, although this is not the Fed." "Made by hand." A similar situation occurred in March, when Powell noted that bank failures and related crises were effectively equivalent to a rate hike. There is not much to worry about at the November interest rate meeting, and the probability of a rate hike in December dropped from nearly 50% yesterday to 36%. Grayscale’s BTC trust fund GBTC discount rate has narrowed significantly from 43% in June this year to 16.5%. The fluctuation of this indicator is seen as the market’s confidence in the approval of the BTC spot ETF is changing. The U.S. Securities and Exchange Commission (SEC) A spot BTC ETF may be gradually approved. In early October, former BlackRock executive Martin Bednall said that "the SEC may approve all spot ETs at the same time. The approval of potential spot ETFs will have a huge positive impact on the encryption market."The SEC's review of spot ETFs will be concentrated in March next year, when the output of the market will be halved in April, and during the Chinese New Year in February. Google search volume for Bitcoin has returned to 2020 levels. Although there is still a little "painful" time left, as an old leek, I also know the pain of 2014/2015 and 2018/2019, and I know more clearly the huge leaps in 2016/2017 and 2020/2021. So for the old man, 2022/2023 does not appear to be very important, but some so-called "prices" that should be paid for the trough/peak. For Dapie, success or failure has never been in the first two years, but in the last two years. Many "successful people" who have achieved Dapie's achievements are also concentrated in the last two years. As long as you understand this truth and stand in the fourth year, you can travel through time. Bulls and bears just make sense.
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