Regarding the interest rate cut. You don't have to listen to me, but you have to listen to Nick.

The core point of Nick's article yesterday was that the interest rate should be cut quickly, because only a quick interest rate cut can reduce the "marginal interest rate" of loans.

50 basis points in November is probably not a big problem, and it also gives some expectations that it will not be soft.

I am not very worried about a non-soft landing. In other words, the above is the best setting for BTC.

The economy has a bit of a weakening risk, which means that the US financial policy will turn quickly. In addition, in the case of a large-scale interest rate cut in the United States, China will also increase the intensity of its financial policy.

In the past, people held their urine because they didn't want the exchange rate to be too low. Now that the United States has begun to stop holding it, there is no need for the rabbit to hold it.