The current market is at a critical point. At the turning point, the last round of interest rate cuts was four years ago, in conjunction with the quantitative easing policy. The difference this time is that quantitative easing has not come, and the balance sheet is still shrinking.

Are we in a brilliant bull market? Actually not, we are actually in a stagflationary economic environment. The only difference is that the future of cryptocurrency is promising, because this is a brand new industry that will be truly globally participated in the future. Because of the existence of capital and transactions, this industry will receive a huge base support.

We have experienced a lot in this round, including the collapse of Luna, the collapse of FTX, the quantitative easing caused by the collapse of Silicon Valley Bank, the launch of BTCETF by Blackstone, and the ETH SOL ETF is on the way. The interest rate cut cycle has just begun.

Although it is not time for quantitative easing yet, the current node is, how much can the cottage fall? Will the bull market not come? The answer is that the bull market is coming. Before the bull market comes, it is expected that the interest rate cut cycle will end around the Mid-Autumn Festival next year. By then, the inflation rate in the United States will be reduced to about 3%, which is completely at the best standard for inflation. 2%? Impossible.

Therefore, the real bull market will probably come around the second half of next year, or start at the beginning of next year. As long as the balance sheet reduction stops and quantitative easing begins, the long orders in the market will be the first to flee, causing the same decline as the previous round, and then rise again. #加密市场反弹 #美国8月零售销售环比好于预期 #美联储宣布降息50个基点