Congratulations to China for handing over its last remaining crypto stronghold and funds to the US. The US is about to take over Hong Kong's cryptocurrency funds. The much-anticipated "money outflow narrative" is back again. ------------------ As we announced a few months ago: December will be a month of pure crypto activity for BTC and other major cryptocurrencies, with the main period of enjoyment lasting about a week. Even if there is activity in the following six months, it won't have a significant impact. December will feature a massive capital flow narrative: Hong Kong funds will collectively flee to the US. Mainland China banned cryptocurrencies years ago, and now Hong Kong is doing the same. Hashkey and other so-called "compliant" Hong Kong exchanges were already struggling; this is making matters worse. What's the point of this "compliance"? It seems like you can legally do business, but what if the business people stop coming? ------------------ Why at least 6 months? Because Trump is highly likely to lose the midterm elections. The Republican Party and cryptocurrency interests are closely intertwined, as discussed many times in previous tweets. The future for crypto is going to be tough. Even the slightest movement by Trump in the crypto market could trigger a flurry of subpoenas towards the White House. Based on the information we've gathered from the US, American cryptocurrency companies generally misjudged Trump's midterm election results, having been misled by his team beforehand. After the election results were announced, they were all stunned. ------------------ According to the "script" we published a few months ago: November will be a "stock-crypto market," a market movement driven by a hybrid of crypto and stock factors; here, "crypto" mainly refers to newly issued coins backed by stock assets, not older coins. The only variable in November is next week. Kraken is currently stuck on an important contract, and we are also waiting for news. This scenario was conceived around September, but the midterm election results unexpectedly impacted the November "stock and cryptocurrency scenario" to some extent. The contract, which was progressing smoothly, is now stalled. If the contract news is finalized next week, then the two-week "stock and cryptocurrency market rally" that will take place on Ink in late November is a certainty.