There is a dialogue about Lü Buwei in the Warring States Policy:
Lü Buwei, a native of Puyang, was a merchant in Handan. He met Yiren, the hostage of Qin. When he returned, he said to his father, "How many times can I profit from farming?" He was told, "Ten times." "How many times can I gain from pearls and jade?" He was told, "A hundred times." "How many times can I gain from establishing a ruler of a country?" He was told, "Innumerable." He said, "Now I work hard in the fields, but I cannot even get warm clothes or extra food. Now I will establish a country and establish a ruler, so that he can leave his kindness to the world. I wish I could follow his example."
Lü Buwei from Puyang went to Handan, the capital of Zhao State, to do business. He saw Yiren, the illegitimate son of King Xiaowen, who was held hostage by the Qin State. After returning, he asked his father, "How many times is the profit from farming?" His father replied, "Ten times." "How many times is the profit from dealing in pearls and jade?" His father replied, "One hundred times." Lü Buwei asked again, "How much profit can be made by supporting a monarch for the country?" His father replied, "It is impossible to calculate." So Lü Buwei said, "Now we work hard in the fields every year, but we still cannot get enough food and clothing or make a fortune. But if we can establish a country and support a monarch, we can pass on the profits to our descendants. I am now determined to do this.

Yesterday in the live class for students, I mentioned the theory of evolution of value. Consensus itself is value, but consensus is a process, it is not achieved instantly, and it depends on many factors.
On October 31, 2008, the Bitcoin white paper was born, which is exactly 16 years ago. Let’s talk briefly about this great design again.

Even though the 16th anniversary has passed, this market still has less than 1 billion people. Although there is a market recognized by 1 billion people, it is still relatively niche.

In the eyes of most people, Bitcoin is still a monster with high risk and low frequency of use scenarios.

After being in the market for a long time, you'll find that the truly profitable opportunities come during the market's complete madness, which lasts for about three to four months! Other times, although there are fluctuations, they are short-lived and hard to encounter!
Whether in the months leading up to the halving in 2016 or the last four months before it ends, the growth has been significant!

When prices drop low enough, the market begins; amidst hesitation and observation, prices rise step by step.

Although in the first three bull markets, there were coins that rose from start to finish, this time, there are almost no such targets. In the fluctuations of Bitcoin, most are still continuously falling, building their market bottom.

In one night, it surged to 70,000 dollars, and Bitcoin makes people feel unstoppable!
Last night we clarified the direction in the group in a timely manner. It can be said that we didn't rush early or late; we timed it perfectly for the market!

We won't play the role of hindsight; we'll notify in advance, and the truth will be revealed at dawn!

Actually, there were already signs in the market on Friday, then Israel fired at Iran, which created a missile trajectory. So yesterday, institutions were back to work, and the market filled in.

With the election approaching, capital must also consider its own interests and face. Many things are driven by money, especially in a capitalist society.

I also mentioned in the group yesterday that during external wars initiated by the Americans, the U.S. stock market always goes up, so there's no need to worry about the recent market.

The market has gradually become weaker over the past six months in the turbulence of Bitcoin. What was promised as a bull market has turned into a bear market.
The sharp decline of altcoins has been experienced by everyone.

This round of Bitcoin's turbulence has been somewhat beyond expectations, continuously adjusting between 50,000 and 70,000 dollars.
In fact, the previous market also languished for quite a while. From the halving on May 20, 2020, to breaking 10,000 dollars in October, it accelerated, taking almost half a year. During that half year, there was little market activity, and altcoins gradually lost profit opportunities during Bitcoin's pullback, except for a few tokens in DEFI and oracles.

Today I was thinking about a relatively important battle for territory in the crypto market, that is, the battle for public chains has lasted for ten years. What is it all about?
Yesterday, more than 40,000 MEMEs were added to the SOL chain, which is simply terrifying to me!
Back then, ETH's ERC20 token was just a scam. Today, in the name of MEME, we are once again putting assets in a dilemma between bubble and zero!
Over the past decade, hundreds of public chains have emerged and then quietly disappeared. Each public chain claims to be Superman or Ultraman on Earth. However, the white papers used to paint the pie are nothing more than fairy tales.

I think everyone still remembers this chart.

I think everyone still remembers this chart. When the bull market started, you didn't believe it, but now, you're probably convinced. Of course, I am too.
Recently the A-shares have also entered a bull market, and I have expressed related views in another public account. Now the crypto market has entered a deep pit of the bull market, and I think the facts speak for themselves.

I also know that this is a cheap opportunity now. But you are scared, you don't believe it. When the market surges crazily, you will be afraid of missing out!

The secondary market is originally a training ground. Without a thousand cuts, you would think too highly of yourself. The fact is, the scythe does not spare any chives!

Since we believe that there is hope to replicate the big market trend after October last year, we have to hold on to some coins from the perspective of profit and loss ratio and high prosperity.
As the market strengthens, there are naturally many currencies with large gains. This time, we will consider it from the perspective of certainty and talk about DEFI currencies.

Let’s not talk about MEME here, because if MEME jumps tenfold, it simply means: no reason is needed.
The first thing to talk about is UNI, the former prince of DEFI. From a money-spending boy at the beginning of its launch to a DEX leader that has stood the test of time, it is undoubtedly the oligarch with unrivaled application and profitability after ETH!

After half a year of volatility, Bitcoin is once again around $70,000. Tonight, when institutions are at work, it should be relatively easy to break through $70,000.
In the previous articles, we wrote about several signs that the market was going to rise, and then the market exploded as expected. However, Bitcoin was relatively strong, and the altcoins did not follow.
We look forward to the subsequent market trend, and there is a chance that it will be similar to the performance after October last year: a long rest followed by a big outbreak.
Looking back at this time last year, the market was also hesitant, and even no one was interested. Even the rise in November and the market in December did not make the market hot. It was not until the beginning of the year when SORA brought AI fever and Bitcoin broke through 70,000 US dollars again that the world began to pay attention.

There are about 617 million cryptocurrency holders worldwide, with up to 60 million monthly active users. By 2024, monthly active crypto addresses climbed to more than 220 million, with Base topping the Ethereum Virtual Machine (EVM) chain with 22 million addresses, while Solana dominated the non-EVM chain with more than 100 million addresses. The number of mobile wallet users also reached its highest level this year, with the United States accounting for 12% of global users. In addition, the report also pointed out that Ethereum's Dencun upgrade and the inclusion of EIP-4844 in March this year helped the value of ETH on Layer 2 increase by 36%, while Layer 2 payments accounted for 94% of Layer 1 fees.

Two days ago, I posted on WeChat Moments:

Commemorating the first anniversary of the bull market. At this time last year, I also posted on WeChat Moments: A new cycle has begun.
In a blink of an eye, the so-called bull market cycle has lasted for a year.
A year ago, it was the tail end of the crypto bear market winter. The prices of most tokens had already fallen to the bottom!
The entire market is almost silent except for the bulls. Those who entered the market in the last bull market have been completely trapped, and have been trapped for two years.

At that time, I warned that a new cycle had begun. But the market was still in the darkness before dawn, and people had no hope for light. That month, I continued to post on my social media that most of the stocks were expected to rise 5-10 times.

After yesterday's sharp rise, the market has experienced a small pullback today, which is also expected.
These days, I have been reviewing the market trends and crypto market events of the past few years.
From a technological creation to the formation of a 3 trillion US dollar financial market, it feels a bit like God created everything.

At first it was just a seed, then it sprouted, blossomed and bore fruit. Life itself is a miracle. All human behavior is the most common energy movement among miracles.
What exactly is encryption?

It is an accident of a technological experiment, a spirit, and a new way of forming assets through consensus.

Yesterday I wrote some opinions on the official account, which were several views on the rising market.
The bottom of the altcoin is relatively formed, Bitcoin breaks through the integer level, the bottom of the 2-day line is formed, and an upward signal appears.

The market has started to strengthen today, and there has been a rapid rise during the Asian session when institutions are taking a break.

Some copycats performed strongly, such as ENA, BOME, SAGA, etc.

This wave of market, first of all, has been adjusted for too long, which has lasted for 7 months. Even a 7-month adjustment in a bear market will usher in a market reversal.

This is the technical point of view.

Recently, I have been thinking that the industry lacks driving force. The external driving force in the early stage, such as ETFs, has been almost absorbed by the market. However, there is no effective technological innovation within the industry. How can such driving force be generated?

Since the Fed cut interest rates on September 19, the market has started a wave of growth. On October 2, it began to retreat from around 66,000. In the first ten days of this month, the market was not very good. This shows that the previous stimulus of the interest rate cut has been digested.

The recent market is relatively simple, and a few coins have experienced aggressive growth, such as NEIRO, SUI, CETUS, and some fan coins.
SUI started in September, with active on-chain activities and rising TVL, showing some early signs of SOL at the beginning of the year. However, SUI is a new public chain after all, unlike SOL, which has five or six years of accumulation and strong capital support. The good thing is that Grayscale has a SUI trust fund.

After Iran launched nearly 200 missiles at Israel on the 4th, the market suddenly changed.
Iran's firing is in line with Iran's style, and Israel's failure to strike back is not in line with Israel's style. Although Israel has not struck back at Iran in the past four days, the strike back is just an arrow on the bowstring discussed behind the scenes.

Because of Iran's bombardment, Hong Kong stocks have seen a strong rally. The United States is doubting whether the rate cut is too large, and the Federal Reserve's speech last week began to express hesitation about the subsequent rate cut process.

At the same time, the US's previous tactics of attracting capital inflows by creating wars in other regions seems a bit unexpected at the moment.

Bitwise submitted an XRP ETF application, which has been officially submitted on the Delaware government website. In addition:
Asset management firm Hashdex has filed an amended S-1 application for a Nasdaq Crypto Index ETF, according to a regulatory filing on Oct. 1.

The filing suggests that the crypto index ETF continues to make progress in its approval process with the U.S. Securities and Exchange Commission (SEC) after the agency requested more time to decide whether to authorize the fund to trade in August.

The Hashdex Nasdaq Crypto Index US ETF will initially include bitcoin and ethereum, but the document says it could eventually be expanded to include other cryptocurrencies.

I was about to go to sleep, but the war broke out.
On September 27, 2024, Israel launched a series of air strikes on the southern suburbs of Beirut, the capital of Lebanon, killing Nasrallah, the leader of the Lebanese Hezbollah. This move ignited the anger of Arab countries in the Middle East, and Iran immediately prepared to declare war. Finally, it opened fire on Israel at around 1 a.m. on October 2. This war was extraordinary, including the Yemeni Houthi armed forces, Iraqi militias and other places opened fire, and the US military base in Iraq was also bombarded! Bitcoin and US stocks fell instantly, and panic spread, which was difficult to stop for a while!

How popular is Big A now?
A brokerage employee chatted in a group that more than 1.3 million people were waiting in line for account opening! It turns out that if you can make money by speculating in stocks, you can’t buy them even if you have to wait in line.

The trading volume of the Shanghai and Shenzhen markets exceeded 2 trillion. What does this mean? This is a historical record since the bull market in 2015. Before that, the average daily trading volume of the market was about 500-800 billion, which tripled in one day.

As the bull market flag bearer, brokerage concept stocks collectively hit the daily limit. This is not the first day of the daily limit. In addition to the leading CITIC Securities, Oriental Fortune and others have already hit the daily limit for 4 times. It doubled in 5 trading days.