According to relevant news, this morning Israeli official sources indicated that Israel has launched attacks on Iran, with Iran's power plants being one of the targets. As soon as this news broke, the cryptocurrency market was directly affected. The U.S. election is now in its final stages, with less than half a month left on the countdown. According to relevant reports, Trump is currently exerting absolute dominance over Harris. Reports also indicate that Musk has once again mobilized cash to support Trump's campaign, providing $56 million, bringing Musk's financial contributions to his ally's ascent to the White House and Congress to at least $132 million. The CEO of Tesla and SpaceX, Musk, disclosed these donations to the U.S. Federal Election Commission, showing his significant investment in funding Trump's presidential campaign while supporting Republican members of the House of Representatives. The election is approaching, and Musk's net worth has also increased. According to recent news, Musk's vehicle prices have significantly dropped, and profit growth has exceeded expectations, with Tesla's stock soaring by 22%, increasing its market value by trillions. Musk's wealth surged by $200 billion overnight, solidifying his position as the richest person. This is Musk's brilliance; he previously never took sides but has directly sided with Trump in this election because he realizes that the U.S. economy has suffered severely and must have an economic leader to save it. Trump is that person. Biden's administration is initiating wars everywhere, from Russia and Ukraine to the Middle East, and now North Korea and South Korea. Harris, as Biden's successor, is also a warmonger who only initiates wars to profit from them. Trump, being a businessman, knows how to manage the economy, so he will find ways to address economic recession. Everyone should have seen Putin's response to Trump; he said he doesn't remember Mr. Trump threatening Moscow. The U.S. election is overly intense, and one shouldn't take statements during the election too seriously. This is crucial; anything can be said during an election, but after being elected, one may deny it. Harris and Trump say they support each other; if Harris is truly elected, she will suppress, while Trump at least won't suppress too harshly.
Now let's take a look at the market. A few days ago, when Bitcoin was at 69,000, Laoshang mentioned that a correction was coming. I believe many people who read the article have positioned themselves. Those looking at 73,000, 80,000, or 90,000 have mostly been liquidated. The market has also liquidated some leverage, clearing out some high-position buyers. Bitcoin is currently hovering around 66,800, with a low of 65,950 USD and a high of 67,294 USD. It will still be in a correction phase. The key level to watch above Bitcoin is 68,000 USD, and then the 70,000 mark is a heavy pressure point. Below, watch 65,000 USD and then 62,000 USD. For Ethereum, there are too many retail investors, leading to a sharp decline, with a low of 2,380 USD. The key level to watch below is 2,200 USD, and above is 2,500 USD. After this correction, Ethereum will rise again, leading altcoins. For altcoins, the older coins will also benefit from a wave. Everyone, seize this opportunity; corrections provide you with a chance. You can also pay attention to Laoshang's public account: Laoshang3. This time, it will coordinate with the election to pull a wave, and then it will end. Then focus on the U.S. unemployment rate on November 1st to see how serious the U.S. economic recession is. November 5th is also an important election day. Now everyone is patiently waiting; there are two days of phase corrections on Sunday and Monday, and then the market will basically come on Tuesday. Those who need to position should hurry.
The A-share market continues to show strong fluctuations, and a change in trend is imminent, likely around next Monday or Tuesday. 3,480 may be a short-term high point for this fluctuation. Now we must wait for the results of the U.S. election, which will greatly impact the stock market. The economic war between China and the U.S. is becoming increasingly intense, and everyone should invest rationally. The national team has made significant moves, with the central government increasing ETF holdings by over 250 billion in the third quarter, and more will be added later. The central bank aims to stimulate consumption and stabilize the economy. The current phase of rising housing prices is quite favorable, with more people buying homes, and prices are much higher than before. More consumers are emerging, and economic recovery is just around the corner. I am Laoshang, thank you for watching. See you next time!
