10.31 daily preview.
Today, let’s take a look at Hong Kong. As shown in the above picture, judging from the list of platforms that are currently licensed and applying for licenses, the native CEX giants at home and abroad seem to have not made much progress. Of course, it cannot be ruled out that they have opened unknown small subsidiaries to apply, but before there is a definite revelation, it is just speculation.
Another thing today is the statement of the Secretary for Financial Services of Hong Kong. In addition to the intention to regulate over-the-counter transactions, virtual asset advertising, online celebrity promotion, and promotion of virtual asset platforms are also within the scope of attention. Once fraud or misleading situations are found, corresponding measures will be taken.
As far as I know, OTC in Hong Kong has always been quite free (and relatively chaotic) before the JPEX incident, so it is reasonable to increase efforts in this area. However, considering that there are only a few large platforms applying for licenses, the originally expected two-way rush narrative does not seem to be so fast. Now the relationship between the crypto world and Hong Kong is a bit like the cold period after the novelty wears off, and they don’t like each other but can’t find a reason to break up.
Next, take a look at this picture on the last day of October. November in history is quite interesting. If this year repeats 2015, there will be a chance to rise to the end of the year. If it repeats 2019, then we have to be careful in November. However, no matter how hard we try, details still need to be mentioned. There was a bull market in the first half of 2019, so it is not surprising that there was a big rise and then a big fall. This year, there is nothing, so I personally tend to prefer the 2015 narrative mode (but the level of excitement will be weaker than 2015).
