July 20, 2023 Grandpa checks in
The news of Evergrande's debt has been spreading like wildfire these days. After a three-month delay, Evergrande finally disclosed its 2022 financial report. The financial report shows that Evergrande's debt in 2022 is 2.43 trillion yuan, with annual revenue of 230 billion yuan in 2022, gross profit of about 25 billion yuan, and net loss of more than 120 billion yuan. What is the concept of 240 million yuan? Someone made a picture. It is about 1.4 billion people in China, and each person is given 1,700 yuan to make it together. If you earn 10 million yuan a year, it will take 240,000 years. If you look at crypto assets, it is 60% of the market value of Pie and 150% of the market value of Ethereum.
This kind of debt or wealth data that only the rich and big companies can reach was revealed by a former real estate tycoon. You may say it is exaggerated, but it seems understandable. However, in comparison, the market value of Bitcoin and Ethereum is not really high. Whether it is compared with the leading stocks in the United States or the debt of Evergrande, the market value of Bitcoin and Ethereum has not reached the ceiling. Even in the bull market, Bitcoin is only a member of the trillion club. The current business model has been developed for so many years, so funds are assured to enter, which is also one of the reasons why the debt scale can be so large. At present, Bitcoin is only a target recognized by a few mainstream funds.
In the short-term market, the current sideways trend is a bit unfavorable to the price, but the staged market is still optimistic. From the daily level, it has been fluctuating upward. There have been some retracements in the middle, but it does not prevent the price from fluctuating upward, or rising. Corresponding to the short-term market, if there is a 10-20 point decline, we can still regard it as a retracement and boldly increase positions. Considering that the short-term is a retracement from a high point, there is no need to increase positions when it is sideways, just wait patiently for opportunities.
Recently, I have noticed from my communication with everyone that most people have a good rhythm, but there is also a problem that there are not many actions in the bear market. I have always recommended that you take some positions to do swing trading. The purpose is not just to make a few points of profit, but to hope that everyone can feel the temperature of the market and whether funds are really entering the market during the swing trading, rather than doing too many swing trading when the next bull market comes. Another point is the swing profit. We have all transferred it to cold wallets or financial accounts for long-term holding. The profit of the swing can be magnified.
Thank you for your attention and likes.