I believe everyone has seen the news. The state-owned capital MGX from Abu Dhabi announced an investment in Binance. Lao Shan can only say that some financial groups in the Middle East are collectively investing in Binance. This is just the beginning; later, Dubai and other places in the Middle East will also successively invest in Binance. Although currently only MGX is confirmed, there will be many more financial groups investing in Binance. You should know that the owner of MGX is the Vice President of Abu Dhabi. Once there is the first, there will be a second investment in Binance. This reflects the Middle Eastern financial groups' optimism about cryptocurrencies, and conversely, it provides some protection for the founder of Binance. Everyone knows that last year the US fined Binance founder Zhao Changpeng $4 billion and detained him for several months. In fact, the US knows that Binance is a big asset, so they also want to swallow it. This time, the investment from Middle Eastern countries actually provides CZ with a kind of stability and protection. Many people wonder why CZ has not sought protection from Dongda. Today, you should also have seen the news that the China Mint Group denied ever issuing virtual currency through any means. You should know that Dongda published an article in 2021 fully opposing Bitcoin, and at that time, the two major exchanges had just exited the market. So, this investment from the Middle East in Binance is very good news, both for the cryptocurrency market and for CZ.
Let's take another look at the EU. Today, the EU announced that it will impose counter tariffs on US goods worth 26 billion euros, which will be fully implemented on April 13. The EU is starting to fight back against Trump's 25% tariffs on EU steel and aluminum products. Yesterday, Lao Shan also mentioned that the US is raising tariffs everywhere for its own interests, leading to dissatisfaction from countries like Canada and the EU. Although it’s not like the Russia-Ukraine war, the economic war has already begun. The Trump administration's goal is to harvest globally to save the US economy. Now, although we see significant signs of recession in the US economy, with the stock market and cryptocurrency market vaporizing billions of dollars overnight, it is actually a decision made by the Trump administration to maintain the dominance of the US dollar. The bigger purpose is to force the Federal Reserve to lower interest rates sooner. Now that Trump has done so much, it remains to be seen whether the Federal Reserve will give Trump face by lowering interest rates. If rates are lowered, both the cryptocurrency market and US stocks will likely recover. Don't be fooled by the current lethargy in the market; there will be times when everyone gets excited again. Right now, it’s a wait-and-see attitude. A few days ago, Lao Shan also mentioned entering in batches and controlling positions during market stagnation. While others panic, you can enter in batches, and when the market surges back, others will only realize that the bull market has returned while you profit significantly. Opportunities are reserved for those who are prepared, not for those who complain about their fate. Recently, I have seen many people criticizing Liang Xi in the market, and many fans are discussing this issue. Personally, Lao Shan thinks it's best to just observe. A few days ago, those who guessed the market correctly were treated like gods, but when they lost yesterday, they were criticized. In reality, everyone knows that investment carries risks, and each person's judgment is different. The initiative is in your own hands, depending on how you view it. I advise everyone to use their brains more to discern!
Now let's look at the market. First, let's talk about Ethereum. Ethereum reached a low of $1853 and did not break through $1920. Right now, it is just fluctuating for accumulation. Yesterday, Lao Shan also mentioned that as long as it does not break below $1850, we should build positions in batches. If it breaks below $1850, we need to look at the $1800 level below. There won't be a significant correction in the short term. The key level to watch above is $2000. If it breaks through $2000 and holds above it, Lao Shan will notify everyone how to operate. For Bitcoin, the highest was around $84,300, and the lowest was at $82,400. The critical levels to watch below are $80,000 and $75,000, which are very important. Currently, we are focusing on $85,000, and if it breaks through and holds above that, we will look at $88,000. The resistance at $90,000 is a bit strong. As for Dogecoin, we need to see if Musk drops some news; Dogecoin will likely rally. Regarding altcoins, I'm sure everyone has seen that many altcoins have been delisted from certain exchanges. There are too many altcoins, and to put it simply, you need to pick good altcoins with potential. Many altcoins are just created to harvest retail investors. Some coins now have no shame, similar to the previous primary market, so everyone must choose those with prospects. Although the market is currently sluggish, everyone should be patient. Those with ambition can only have a short-term influence on the rise. The bull market is still there, so keep a good mindset and don't get knocked down in the storm. Control your hands, observe more, learn more, and ask more questions. I am Lao Shan, thank you for watching. Follow Lao Shan to avoid getting lost. See you tomorrow!