September 10, 2024
iPhone 16 has been released. One thing that is often compared is how many BTCs can buy the latest iPhone. This time, only 0.014 BTC is needed, which is not even half of the iPhone 15. If it was earlier, the fraction of BTC spent on the purchase could have bought several iPhones. If you doubt whether there is still a bull market, you only need to think about this question carefully to dispel your concerns. The purchasing power of BTC for iPhone is actually a direct reflection of the unlimited inflation of legal currency. The total amount of BTC is constant, and the corresponding total market value will increase with the increase in the size of the legal currency world, and the unit price will naturally rise.
I once said that 5 BTC will become the dividing line of wealth for ordinary people. Even now, it is not easy for an individual to have a reserve of 2 million investment corresponding to 5 BTC. Therefore, most people who have enjoyed early dividends and have felt the charm of BTC's appreciation will choose to permanently allocate some BTC. Every time the market falls, especially when it is in a long-term downturn, the market will be full of negative voices. Once the despair spreads, those who were once firm holders will panic and sell. This process is inevitable in every bear market. Only those who truly understand BTC can persist in the bear market.
The market in the past two days has basically gone out of the bottoming out and rebounding trend. The probability of the wave that I mentioned yesterday standing at 60,000 is very high. The next step is to wait patiently. In fact, the daily level has already gone out of the small positive line, but there are also many pressure points behind. In addition, the price of the recent cottages seems to have stopped fluctuating after the loss of liquidity. In the past two days, many cottages felt that they could not fall any further. Naturally, they rebounded with the market in the past two days. Of course, we cannot be too optimistic about the subsequent market at present, but there is really no need to be pessimistic.
Finally, the biggest event of this month is the interest rate meeting. According to the news, Powell will try to get everyone to support a 25 basis point rate cut at the meeting later this month, and will try to push for a larger rate cut due to the recent weakness in the labor market. For the economy, there will definitely be shocks before and after the start of the rate cut, and Powell certainly hopes for a soft landing. If the rate is cut by 50 basis points on the 19th of this month, it means that the economy is indeed at great risk. If the market surges because of the 50 basis point rate cut, we should pay attention to the risks. On the contrary, if the market continues to be sluggish recently without any special events, we should continue to increase our positions.
Happy Teachers' Day to all teachers. Thank you for your attention and likes.
