This wave of 25 basis point rate cuts? Don't think of it as a pie in the sky, maybe it's a dug pit. The market is jubilant now, and there are voices everywhere that "the bull market is coming", but the real risk may be hidden in Hassett. If he really sits in the chair of the Fed, that hawkish style can put a sharp brake on the market at any time.

In the short term, the price of the currency may indeed jump twice with this good news. But look at it for a long time? It's probably the kind of slow-cooked frog drama - you're still dreaming, you're already cooked.

The most dangerous thing is at this point in time. Retail investors are jumping at carnival parties, and institutions have already quietly placed empty orders; You think you're buying the bottom, and people are waiting for you to take the last stick.

What should retail investors do? Don't chase the rise impulsively. Bitcoin is staring at the lifeline of the 60-day moving average: if it breaks, admit the stop loss, and then think about whether to increase the weight after standing firm. The market is there every day, but if the principal is lost, it will be gone.

There is an old saying that goes: you have to be calm when others are crazy, and you can enter the arena when others are cowardly. In the cryptocurrency industry, there has never been a good thing to lie down and count money, and it can only be a little more sober than others. Stay sober, and you've already left half of the people.