October 4, 2023 Grandpa checks in

According to Nikkei Asian Review, citing people familiar with the matter, as global crypto trading volume gradually recovers, Whampoa Group, headquartered in Singapore, will launch a $100 million venture fund by the end of this year. Don't underestimate the Whampoa Group. Since its establishment 10 years ago, it has invested in many successful large companies, including Binance and ByteDance. According to public information, the Whampoa Group is a large investment group jointly established by Lee Hans, a descendant of the Lee Kong Chian family, the largest shareholder of Singapore's largest private bank, OCBC Bank, and Lee Kuan Yew's niece, Lee Runying.

Although 100 million US dollars is nothing compared to the Whampoa Group, and whether it will be established as scheduled is another matter, the high return rate and convenient exit channel of investing in crypto companies are enough to attract a lot of capital to participate. When the bull market was crazy in 2021, a lot of capital rushed in. After more than a year of decline, the market returned to calm, but I still believe that this piece of fat has always been on people's minds. Therefore, in general, there is no need to worry about whether the bull market will come. What we need to pay attention to is that the time of the bull market is not certain. It is most important to do a good job of fund management and position management.

I met some friends during the holidays. I feel that there are generally two types of people who are doing well. The first type is related to ZZ and has some power. The second type is fighting in the capital market. Whether it is starting a business or playing with capital, you have to deal with money directly. Of course, like Huangpu Group, it seems that capital is making money, but in fact it is also done by powerful people. The threshold is very high for ordinary people. Why do I always insist on letting everyone allocate encrypted assets? Because this is the secondary market closest to the primary market. If you no longer have the advantages of resources and power, you have to grab the track and take the initiative. And this is what many old people in the B circle have personally experienced and witnessed.

In terms of market conditions, the big cake has not fallen for the second time after the high and fall, and the main force has not made a second drop in a short time. One of the main reasons is that the bullish and bearish sentiments have not yet accumulated. Now there is not much profit in the unilateral market. You know, our current market liquidity is very poor, and the cost required by the main force is not high, so there are more shocks and false breakthroughs. As for how to deal with it, it depends on everyone's opinion. I personally choose to do some bands at the pressure support level, such as the pressure of 28,000 and the support of 25,500, which are all worthy of consideration.

Thank you for your attention and likes.