On July 22, an event that shocked the world occurred. US President Biden withdrew from the 2024 presidential election and supported Vice President Kamala Harris to become the Democratic presidential candidate to challenge Trump. This result is basically consistent with the result we predicted in last week's article. The old and sick Biden finally withdrew from the stage of history. According to polymarket data, Trump's approval rating has dropped to 64%, while Harris's approval rating has risen to 30%.
The essence of the US presidential election is a showdown between Jewish capital and Anglo-Saxon capital. The actual controller behind the Democratic Party is Jewish capital, while the Republican Party is Anglo-Saxon capital. The relationship between the two has long been incompatible, but they complement each other. Judging from the strength on paper, Jewish capital is stronger than Anglo-Saxon capital. So far, many important high-level positions in the United States have been firmly in the hands of Jewish capital. Therefore, with Biden's withdrawal, Harris's succession has added uncertainty to the 2024 election. Even if Trump's current approval rating is far ahead, Harris has the possibility of a comeback under the operation of Jewish capital.
On July 22, according to the official website of bitcoin2024, former US President Trump will deliver a speech at the Bitcoin 2024 conference held in Nashville from 14:00 to 14:30 local time on July 27. According to industry insiders, Trump may announce plans to use Bitcoin as a strategic reserve asset in the United States at the Bitcoin 2024 conference. This fundamental is undoubtedly a huge positive for BTC. Of course, the premise is that Trump will make such shocking remarks at the BTC conference on the 27th.
What are strategic reserve assets? Strategic reserve assets refer to a certain amount of storage or savings of materials, currency, energy and manpower that a country has planned to build in order to deal with war or other emergencies, as well as to ensure the normal operation of the national economy and national defense needs. At present, most countries generally use gold as a strategic reserve for financial and monetary reserves, and then use the US dollar. However, due to its high risk and high volatility, the possibility of BTC being used as a strategic reserve currency is not great. However, it is one thing to say it or not, and it is another thing to do it or not. If Trump is elected and announces that BTC will be used as a strategic asset reserve for the United States, it is indeed a very heavy positive. After all, Trump's current approval rating is far ahead, and the probability of winning is still very high.
According to Bitcoin.com, seven U.S. states have jointly challenged the SEC's regulatory authority over cryptocurrencies. A coalition of seven states led by Iowa Attorney General Brenna Bird filed a friend-of-the-court brief on July 10, opposing the U.S. Securities and Exchange Commission's (SEC) attempt to regulate cryptocurrencies. The coalition includes Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma.
This is a typical case of the SEC offending the public. The power of the masses is great. With the listing of Cionbase and some cryptocurrency-related companies on the Nasdaq, cryptocurrency has become more and more standardized and legal in the US market. In addition, the number of cryptocurrency users in the US has already exceeded 50 million, accounting for 20% of the US population. This is a huge force that cannot be ignored. The various cross-border actions of the SEC have caused dissatisfaction among most cryptocurrency supporters, so it is very reasonable to encounter a 7-week joint protest.
Recently, the SEC's attitude has softened a lot. It has reached settlements with BUSD and XRP, etc. Sometimes power has to bow to people's livelihood.
As for the market, the trend is the same as we expected, with a fluctuating upward trend. In yesterday's article, we gave two key positions, the upper side is around 68,000 points, and the lower side is around 63,000 points. The intraday high point was 68,500 points, and then it started to retrace, which coincides with our point of view. The U.S. stock market is closed on weekends, so the funds on ETFs cannot come in. After each share opens tonight, we will know the attitude of investors in the U.S. stock secondary market towards the future market.
ETFs have become the main force in the current market, and there is a hint of uncertainty in the current US election. Although Harris has never expressed her attitude towards cryptocurrencies, if Harris is elected, the possibility of continuing the Biden administration's political strategy is still very high. This will directly affect the progress of the Fed's interest rate cuts and the confidence of the US secondary market in the positive bullish outlook for BTC.
The current trend of BTC is a normal correction in the rising market. There is a lot of selling pressure at the 68,000 level. The market is infinitely close to the previous high. There is a certain fear of heights in the market, which has led to insufficient buying orders and a certain amount of selling pressure in the short-term band. For the overall market, the community's view remains unchanged. If everything goes well on the fundamentals, it will continue to be bullish and fluctuate upward. However, if Harris's approval rating gets higher and higher, the market will be hesitant and confusing. The buying of ETFs after the opening of the U.S. stock market tonight is particularly important for the market outlook. This is a matter of attitude.
As for Ethereum, the market generally expects that it will start trading on the secondary market of US stocks on the 23rd, which is tomorrow. There are a total of 9 Ethereum ETFs. After years of regulatory resistance and countless revised registration documents, the spot Ethereum exchange-traded fund (ETF) has finally entered the market. Nine spot Ethereum ETFs are about to start trading. In terms of the underlying mechanism, these funds are almost identical. Each ETF is sponsored by a reputable fund manager, holds spot ETH through a qualified custodian, and relies on a group of core professional market makers to create and redeem shares. They also all enjoy the same standard investor protection, including insurance against broker bankruptcy and cybersecurity risks.
In terms of altcoins, the SOL series has remained strong, especially WIF. Starting from the document of the bargain-hunting targets we gave you on July 7, the price has increased by 100%, doubling, and other bargain-hunting targets have increased to varying degrees. The sectors that performed well today are basically L1 infrastructure. The overall performance of altcoins today is relatively calm. The strong will always be strong! ! Like to follow and continue to see more sharing content#拜登退选 #比特币大会 #美国大选如何影响加密产业？ #山寨季何时到来？
