Powell confirms that BTC has skyrocketed
Yesterday's visit [”8.23 Education Chain Reference: El Salvador Achieves True Results”] Surprisingly accurate forecast of Federal Reserve Chairman Powell's speech at the Jackson Hole annual meeting at 10 p.m. —“Powell is widely expected to suggest that the Federal Reserve will begin reducing policy restrictions in September, but there are limited clues about the frequency and extent of interest rate cuts.”
It's not that people guessed correctly, but Powell never let the market down.
In his globally high-profile speech last night [1], Powell confirmed:
1. Confidence that inflation will continue to return to the 2% target has increased dramatically.He said,“I am more confident that the inflation rate will steadily rise back to 2%.” (My confidence has grown that inflation is on a sustainable path back to 2 percent.)
2. The job market has cooled.He said,“Today, the labor market has cooled significantly from its previous overheated state.” (Today, the labor market has apparently been overheated from its formerly overheated state.)
3. Economic growth remains strong.He said,“Overall, the economy continues to grow steadily.” (Overall, the economy aims to grow at a solid pace.)
He further emphasized:“The upside risks of inflation have abated. The downside risks to employment, on the other hand, have increased. As we emphasized in our last FOMC statement, we are very concerned about the risks we face in our dual mission.” (The upside risks to inflation have been diminished. And the downside risks to employment have disadvantages. As we argued in our last FOMC statement, we are considering to the risks to both sides of our dual interests.)
He unequivocally confirmed:“The time has come for policy adjustments.” (The time has come for policy to adjust.)
Where is that “hint”. That's already “explicit”, OK?
However, regarding the pace and extent of the adjustments, he said:“The direction is clear, and the timing and pace of interest rate cuts will depend on future data, changing prospects, and balance of risk.” (The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the anticipated outlook, and the balance of risks.)
Simply and [Yesterday's visit] It's exactly the same as what it says.
Powell's speech, the ceiling of language art.
Just as Powell was speaking, the BTC long and short sides started a fight. First, the bulls suddenly boosted BTC from 61k to over 62k within 15 minutes, then the bears spent three 15 minutes to push the bulls back from 62k to 61k. However, after all, the bears were unable to recover, and a zero-sum game with even forces on the field did not change the direction of external forces. BTC began to soar from 61k, and by around 5 a.m., it had already risen above 65k.
Waking up in the morning, the teaching chain saw this scene and sent greetings:“Whenever there is a sharp rise, don't just ask about the rise and fall; first ask if your positions are good enough. I work with you. Good morning!”
The community is full of life; there are people who eat and steal and enjoy themselves. There are those who claim that they have already won the bag after clearing the inventory. There are also people who regret losing positions and wait for a drop and don't know if they can get into the car. Some of them ended up losing their positions by stealing the ground when crying. There are also cases where punching a fat person with a swollen face indicates that an empty stomach doesn't hurt.
There is an unbelievable argument that 100,000 dollars is the starting point; now we have to empty our positions and wait until 100,000 dollars get on the car before we can stabilize.
Other people have gone crazy, threatening to die in an empty position and wait 25,000. If they can't wait for the rest of their lives, they will let their grandchildren keep waiting; if their son can't wait, their grandchildren will keep waiting, and their grandchildren will vow to wait.
All of these things are pretty impressive.
There is a saying, if you teach others, you can't teach them; once you teach others, you will. But this market seems to have failed. No matter how many times you close a position or lose money, you still remember to eat or not to beat.
The fate of a contract is to close the position. The end point of a short position is exit.
Many people claim that they are both long-time BTC believers, as well as short-term shorters and billers. When it comes to this kind of statement, the teaching chain doesn't believe even half a word.
The touching aspect of this logic reminds me of a famous Russian prostitute who has been a prostitute all her life, yet claims to be the purest and cleanest woman in the world.
Of course, if the so-called “pure” and “clean” means not making money, then long-term holders of BTC will indeed have to be labeled “unclean” and “unclean.”
But like the heartbreaking story in the Italian film “The Beautiful Legend of Sicily” (Malèna), how can this absurd world, pure and impure, clean and unclean, depraved and undepraved, tell the difference between you and me.
In the eyes and hearts of the depraved, those who refuse to be depraved are instead depraved.
He scoffed. He disparages. He's crazy.
The Buddha said that all living beings suffer.
All living beings suffer; they are obsessed and unaware.
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[1] https://www.federalreserve.gov/newsevents/speech/powell20240823a.htm
