It's almost time; the combination of the 20-year pandemic leading to product supply shortages, people getting bored at home and trading stocks, and the resulting inflation from monetary easing and interest rate cuts led to a surge in the stock market.

The inflation caused by tariffs now and the stock market crash recovery are two different matters. In the face of inflation in the 20-year objective environment, people had to seek safe-haven or appreciating assets, which led to the stock market surge. The government had no choice but to resort to monetary easing.

In the current environment, the Federal Reserve will absolutely not cut interest rates until the full transmission of tariff impacts is completed. Tariffs and the potential default on U.S. Treasury bonds are also man-made disasters. In this context of human-made disasters, the economy is still in an overheated state, which the Federal Reserve is well aware of. If inflation gets out of control, it will further lead to a stock market surge driven by safe-haven and value appreciation, making the bubble between stock prices and financial reports difficult to recover, ultimately leading to a stock market crash akin to 1929. Therefore, the current situation is that the Federal Reserve will try every possible means to control the bubble (without cutting interest rates), while Trump is trying every means to create a bubble to promote his great decisions. Trump is currently not being supported by Europe or China. In this case, assuming the Federal Reserve side wins, they will find ways to cool down the economy rather than heat it up, because the situation now is that there is too much production and too little demand. In such circumstances, it is extremely difficult to support high market values while financial reports are struggling to keep up, which is why tariffs need to be increased; without tariffs, American companies simply cannot compete.

In this situation, the Nasdaq is just going to see some fluctuations; we will take it step by step. If the entire U.S. economic environment deteriorates, the U.S. stock market cannot keep rising indefinitely. However, BTC is different; BTC has the nightmare of doubling every four years. If this time the price does not reach above 140k, the next round could potentially drop to zero (if BTC doesn't keep rising, who will invest in BTC?). If the price does not reach above 140k, miners will earn less and less, and the whole environment will deteriorate. Therefore, this point must be driven up; after all, four years ago, the crash was almost upon us. However, how much it can be pushed up depends on market reactions; there’s no way around it, it’s already at the end of its tether, and we must take it out for a walk, whether it’s a mule or a horse.