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如果这轮牛市得到确认，如果这一切都能稳住，我觉得大方向是从3万亿涨到10万亿。
If this bull market confirms, if all this holds, I think directionally we move from 3,000,000,000,000 to 10,000,000,000,000.
大家好，最近怎么样？
What's up everybody?
这里是LG News，欢迎来到Milk Road节目，这是每日加密货币节目，我们刚刚了解到QNT，现在我很生气，之前没人告诉我它已经涨了五倍。
It's LG News out here, and welcome to the Milk Road show, the daily crypto show that just learned about QNT, and now I'm pissed that no one told me about it before despite it having gone up five x.
搞什么鬼啊，老兄？
What the hell, man?
今天是2026年9月28日。
Today is 09/28/2026.
今天有点放缓，但听我说，这比几周前甚至几个月前好多了。
A bit of a slowdown today, but listen, this is much better than it was a few weeks ago and even a few months ago.
这个月山寨币涨了很多，今天我们看到一个自然的回调，但感觉随时都有可能，随便一个老币种就能突然暴涨500%。
Altcoins are up big this month, and today we're seeing a natural little pullback, but it also feels like at any moment, any random old token could just pop like 500%.
今天，我们回来聊聊我们有多看好市场，这次回调会走多远，宏观数据可能告诉我们接下来会发生什么，以及为什么有些代币就是涨得停不下来。
Today, we're back on to talk about how bullish we are, how far this pullback will go, and what the macro may be telling us about what's next and why some of these tokens are just going off.
约翰今天来上节目了，节目结束后我们还会额外聊十五分钟，谈谈他的操作、他手里的山寨币，以及他接下来关注什么，这部分是Milk Road PRO的after hours内容。
John's on the show, and we're gonna spend an extra fifteen minutes after the episode talking about his moves, his alts, and what he's looking at next as part of a Milk Road PRO after hours.
所以记得收听，或者点下面链接花一美元就能看。
So tune in for that or pay a dollar at the link below to check it out.
另外提醒一下，我们的播客是免费的，这离不开我们的合作伙伴Nexo的支持，它是一个数字资产平台，让你在一个地方就能交易、赚取收益和借贷。
And a reminder today that our podcast is free that and it wouldn't be possible without our partners at Nexo, the digital asset platform that lets you trade, earn, and borrow all in one place.
稍后在节目中还会有更多关于他们的信息，请留意。
Keep an ear up for more information about them later in the show.
约翰，周一快乐，兄弟。
John, happy Monday, man.
周一快乐，LG。
Happy Monday, LG.
很高兴来这儿，我也很期待知道我们今天要聊什么。
It's good to be here, and I'm excited to find out what we're gonna talk about this
你开心吗？
Are you happy?
对你来说，这是个开心的周一吗？
Is it a happy Monday for you?
你感觉好吗？
Do you feel good?
到目前为止，我是说……
So far, I mean...
你看。
Look.
我真的很兴奋看到比特币周线收盘价保持在五月高点之上，这让我非常非常开心。
I I was really excited to see Bitcoin hold the weekly close above the May high, so that made me very, very happy.
而且我觉得硬币的另一面是，比特币和加密货币基本上确认了它们所处的牛市和看涨趋势。
And I think the the the other side of the coin is that Bitcoin and crypto has sort of confirmed the the bull market and the bullishness that they're in.
然而，市场的其他部分，宏观环境，正在恶化，就像在我们头顶上崩塌一样。
However, the rest of the the market, the macro landscape is sort of deteriorating and, like, collapsing around our heads.
所以这方面有很多令人担忧的地方，但加密货币也有很多看涨的势头。
And so there's there's a lot that's concerning in that, but then there's a lot of like bullish momentum in crypto.
所以有很多理由让人开心和看涨，但也有一些短期的不确定性和阻力。
So there's there's a lot of reasons to be to be happy and bullish, but also some short term uncertainty and some headwinds.
所以就是……
So there's just like...
今天早上让我开心的事情有很多，但总的来说，我是开心的。
There's a lot, that goes into me being happy this morning, but overall, I am happy.
我看到很多人发帖说这周收盘价突破了八万三。
I saw a lot of people posting about this weekly close above 83 k.
为什么那那么重要？
Why was that so important?
因为比特币突破了它在2026年大部分时间所处的区间，并且确认了周收盘价在八万三以上，也超过了我们在五月创下的高点，那次对牛市或熊市阻力带的重新测试失败了。这似乎表明趋势是真实的。
Because Bitcoin broke out of the range that has been in for most of 2026, and confirming that weekly close above 83 k and above the the high that we put in in May in the failed retest of the the bull market or the bear market resistance band, It seems to indicate that the trend is is real.
这不仅仅是一个假突破，或者像是一个骗人的影线，然后我们又进入，你知道，六个多星期的加密寒冬。
This isn't just like a fake out move, like a a scam wick before we go into another, you know, six more weeks of or of of of crypto winter.
看起来这种看涨势头在持续，价格正在接受这个高于那个高点的新区间，这意味着看涨势头比看跌势头更强，而且我们可能很快就会看到更高的价格。
It seems like this bullish momentum is holding, and the price is accepting in this new range above that high, which would imply that the the bullish momentum is stronger than the bearish momentum, and that we'll we'll probably continue to see higher prices in the the near term.
所以这真的是一个非常看涨的市场强度指标。
So it's just like a really bullish indicator of market strength.
有趣的是，你谈论比特币价格的时候，好像它是什么自己会行动的野兽，但其实它只是市场。
It's funny when you talk about the price of Bitcoin, like it is some kind of, like like, a beast that behaves on its own, but it's really just market.
你懂我的意思吗？
You know what I mean?
我就是觉得好笑，因为不知为什么，有很明确的指标说，就因为收盘价高于这个，所以现在所有人都看涨了。
Like, I I just think it's funny that there's, for some reason, there's very clear indicators that's like, just because it closed above this, so that means everybody's bullish now.
但这不是……
But it's like, isn't that...
我的意思是，你到底能在多大程度上依赖这个？
How how how much can you really rely on that is is, I guess, what I mean?
因为你说的这些，我在时间线上到处都看到了，尤其是昨天周线收盘的时候。
Because what you've said, I've seen that across the timeline everywhere, especially yesterday as the week closed.
所以这真的让我好奇，但你对这个能有多确定呢？
So it really had me wonder, like, but how how certain can you be about that?
嗯，这是我们能拥有的最大确定性了，因为那是每个人都在表达自己的观点，判断他们是否看好比特币，并把这些想法投入到市场中。
Well, that's the most certainty that we can have because that is everybody contributing their opinion and figuring out what whether or not they're bullish on Bitcoin and articulating that into the markets.
而这现在告诉你的是，我们已经超过了五十周。
And this is telling you now that, like, you know, we're over the the fifty week.
这意味着总体来看，在过去一年的价格中，比特币的价格是上涨的，而不是下跌的。
That means that on the whole, over the last year of price, Bitcoin's price is higher than lower.
所以，在过去的这一个日历年的价格走势中，平均来看，多头是占上风的。
So the bulls are winning on the the last, you know, one calendar year of price action on average.
所以，这就是……
So that's that's...
这就是为什么最终一切都归结于价格。
That is why it all resolves down to price.
这就是为什么当你让市场自由运作时，它是如此美妙……
This is why markets are beautiful when you let them...
你知道，让人们不受束缚地把他们的资金和观点投入到市场中。
You know, let people without encumbrance contribute their capital and their point of view into the market.
市场会生成信息。
The market generates information.
而现在市场生成的信息是，市场对比特币非常看好，所以大家才会特别关注价格走势和图表上的这些关键点位。
And the information it's generating right now about Bitcoin is that the market is very bullish on Bitcoin, and that's why people are so dialed in specifically on the price action and these key levels on the charts.
那这是不是意味着……
Does this mean then...
这也是我们前几期节目里聊过的内容。
And this is kind of what I think we've we've discussed in the last couple episodes too.
从技术分析的角度看，这种看涨的结构是不是意味着……
Does this mean this type of bullish structure from a technical perspective?
这是不是会向其他潜在买家传递一个信号，让他们觉得现在入场相对更安全了？
Does this then indicate to a lot of other potential buyers that it is now a a lot safer to enter in a sense?
我觉得很多人会把这里看作一个关键支撑位。
I think that a lot of people are gonna look at this as a key, like, level to hold.
一旦这个位置守住了，他们就会重新评估很多事情。
And having held it, they will kind of, like, reassess a lot of things.
我觉得，最好的例子就是本·考恩。
And I think, look, the best example of this is Ben Cowan.
本一直说，他觉得我们不会突破这个水平。
Like, Ben has been saying for a long time, he didn't think we were gonna break this level.
然后他又说，嘿。
And then he was saying, like, hey.
我错了，但看看它能不能守住，因为你知道，这里可能还是会有一些疲软。
I was wrong, but let's see if it holds because, you know, there still could be some some weakness here.
就像中期选举前的这段时间，可能会有很多波动、不确定性和犹豫，人们可能只是对冲一下，或者不想在这种市场不确定性和宏观环境下投入资金。
Like, this this period right before the midterm election, there could be a lot of volatility, uncertainty, hesitation, and people just kind of, like, you know, hedging or just not wanting to commit capital one way or the other while we have this uncertainty in the markets and this macro...
你知道，宏观环境太不确定了。
You know, the macro environment is so uncertain.
能源危机还在持续。
The the the energy crisis is still ongoing.
看起来伊朗在中期选举前不会达成协议。
It doesn't look like Iran is gonna make a deal until after the midterms.
所以他们想继续保持那种压力。
So they wanna kinda keep that pressure on.
所以所有这些事情都可能给整个市场带来阻力，而现在最大的问题是，西方各国长期政府债券的收益率正在快速攀升，这本身就是一个危机。
So all these things could present headwinds for markets in general, and the the big one right now is that bond yields on long dated government debts across Western countries is is climbing at a very fast clip, and that's kind of a a crisis of its own.
所以所有这些事情都带来了一些不确定性和阻力。
So all these things create some uncertainty and headwinds.
但总的来说，我认为这标志着加密货币市场已经连续几个月处于牛市趋势，现在这个趋势已经打破了之前一年的宏观熊市趋势。
But on the whole, I think it's a sign that the the crypto markets have been in a bullish trend for multiple months that has now broken the macro bearish trend that we've been in for the prior year.
而且看起来现在资本更愿意进入加密货币和数字资产市场，甚至热钱投机者也会来加密货币市场投机，因为其他市场可能更不确定、更不乐观，而这里就是机会所在。
And it does seem like now that capital is going to be more willing to come and take positions in in crypto and digital assets or, you know, even the hot ball of money speculators coming to speculate in crypto because these other markets are are maybe less certain, less bullish, and and this is just gonna be where that opportunity is.
这有很多原因。
There's a lot of reasons for this.
我认为到目前为止，我们在加密货币和比特币上看到的价格走势，真的可以看作是一种均值回归，就像是在追赶其他市场的步伐。
I think the the price action we've seen so far in crypto and Bitcoin really could be viewed as sort of a mean reversion of, like, catching up to where the rest of the market has been.
因为我们目前只处于五十周移动平均线附近，或者刚刚超过它。
Because, like, we're only at the fifty week moving average or or just above it.
我们现在是八万三千美元。
We're at $83,000.
所以实际上，我们正好在比特币过去一年的平均价格上。
So we literally are, like, at Bitcoin's average price for the last year.
所以这真的是均值回归，而且我不觉得这像是……
So it's it's literally a mean reversion, and I don't think it's like...
你知道，比特币并没有涨到十五万或者什么的，变得严重高估或者远远超前。
You know, Bitcoin didn't go to, like, a 150 k or something and get way overvalued or way ahead of itself.
它其实只是回到了平均水平。
It really just sort of caught up to average.
而且很多其他的币种在……
And a lot of the other coins on on the...
在数字资产市场里，也差不多做了类似的事情。
In the digital asset market have kind of done a similar thing.
其中一些已经大幅突破了，我觉得这显示了看涨的势头，你能看到这种分化，以及一些山寨币的大幅突破。
Some of them have broken out in a big way, and that's a sign, I think, of the the bullish momentum there that you're seeing that dispersion and some of these big breakouts among Altcoins.
但不管怎样，是的，就像那里……
But in any event, yeah, it's like there...
市场其他部分放缓、不确定，人们回归加密货币，原因有很多。
There's a lot of reasons why the rest of the market is slowing down and uncertain and why people are coming back to crypto.
而且我认为，在这个水平之上得到确认和接受，进入这个新范式、这种看涨势头，可能会吸引更多资金，因为价格具有反射性，而比特币最好的广告和营销就是更高的价格。
And I think getting confirmed and accepted above this level and into this new paradigm, this bullish momentum here, that will probably attract further capital because price is reflexive and the best advertisement, the best marketing for Bitcoin is is higher prices.
所以，是的，有很多值得看涨的理由。
So, yeah, there's a lot to be bullish on there.
我想暂停一下，提醒大家，加密货币牛市回来了。
Just wanna pause for a quick second to remind you all that the crypto bull market is back.
我一直在把资金部署到我认为在这轮牛市中会表现很好的山寨币上。
I have been deploying capital into Altcoins that I think are gonna do very well, this bull market.
其中一些从我买入时起已经涨了两倍多。
Some of them are already up over two x from where I entered.
所以，如果你想看看我的投资组合里有什么，我的观察列表是什么，并且能在Discord上随时向我提问，现在就加入Milk Road PRO吧。
So if you wanna see what's in my portfolio, what's on my watch list, and have access to me in Discord to ask questions 24 a day, Join Milk Road PRO now.
链接在描述里。
The link is in the description.
只要一美元。
It's just a dollar.
到时候见。
I'll see you there.
我一直在我们的股票频道上说，我们的分析师梅尔文，他是Milk Road投资组合的负责人，他精准预测了所有瓶颈股等等，我说他总有一天会在加密货币领域大放异彩。
I've been saying for a long time on our stocks channel that Melvin, our analyst, who's the leader in the portfolio at Milk Road, who nailed all the bottleneck stocks and everything, that he will top blast crypto at some point.
他会进来……
That he will come in...
当梅尔文买入的时候，那就是……
When Melvin buys, that's when...
那就是我们都在卖的时候。
That's what we're all selling.
明白吗？
Okay?
到时候给梅尔文点个赞吧。
Shout out Melvin whenever that is.
那……
That...
那时候就是时机到了。
That's when it's time.
而且约翰，这还得等很久呢。
And it's not gonna happen for a long time, John.
关键就在这儿。
That's the thing.
这事儿不会发生的。
It's not gonna happen.
不过说到你刚才讲的宏观和不确定性，还有其他那些大交易，我们在股票频道上聊过这些。
But speaking to kinda what you're saying about the macro and the uncertainty as well about other other big trades, we have discussed that on the stocks channel.
那是个大……
That was the big...
上周在那个频道上，我们几乎每天都在讨论前沿模型面临的危险。
That was like what we talked about almost every single day last week on that channel was the danger to the frontier models.
就是说它们可能无法产生足够的收入。
That is like they may not be able to print enough revenue.
很多其他大公司、超大规模云服务商都在推出自己的人工智能解决方案。
A lot of other large companies, hyperscalers are coming up with their own AI solutions.
智能体运动正在兴起。
The agentic movement is starting.
人们开始使用Meta的Muse和Grockbot，而且还会有更多类似的产品出现。
People are starting to use Muse from Meta and Grockbot, and there's gonna be more of those.
这给大型前沿模型带来了风险，进而又影响到所有这些……
And that puts the large frontier models at risk, which then down the line puts all these...
所有这些资本支出的建设都成了问题，再加上经济形势也不太稳定。
All this whole build out of all this CapEx in question, and and also with a bit more of a shaky economy.
这整个交易都受到了影响。
It puts that whole trade.
这让事情变得不那么确定了，而现在加密货币不仅有了这种技术分析的看涨势头，就像你说的那样已经突破了，而且还在积累大量的波动性和很多看涨的因素。
It makes it a little less certain and where now crypto not only has has this TA bullish momentum, right, that has has broken out like you're saying, but also has been building up a lot of volatility and a lot of just bullish things.
就像我们去年请来的所有嘉宾，都是机构的人，他们说，听着。
Like everyone we've had on the show in the last year are people from institutions saying like, listen.
我们都在买。
We're all buying.
每个人都在进场买。
Everyone's coming in to buy.
我们。
We.
这是数字资产的未来。
This is the future of digital assets.
贝莱德正在组建一个完整的数字资产团队。
BlackRock is hiring a whole digital asset team.
富达也是。
So is Fidelity.
这种势头一直在积累。
Like, this has been building.
而且从散户的角度看，加密货币一旦涨起来，那真是势不可挡。
And also just from a retail standpoint, when crypto goes, it goes, man.
这点我们都很清楚。
Like, we just know this.
就是……
Like, it just...
这……
This is...
我们关注这个市场已经够久了。
This has been paying attention long enough.
它……
It...
这就是它的规律，兄弟。
This is just how it works, man.
其实很简单，事情就是这样发展的。
It's it's simple in a way that this is what happens.
所以，你知道，就是……
So, you know, it's...
我完全理解你说的。
I I definitely validate what you're saying.
我完全同意。
I definitely agree.
我觉得有很多市场和加密货币一样，都有这种反射性。
I think that there's a lot of markets that are reflective in the same way that crypto is.
只不过，如果你是加密货币的原住民，你对这种价格反射性非常熟悉，而且这很有趣。
It's just that, if you're a crypto native, you're very familiar with that price reflexivity, and it's it's fun.
感觉很好。
It feels good.
就像有些东西可以沉寂很长时间，但如果它们持续建设、持续创造价值、持续前进，最终牛市还是会回来的，然后利好消息又会推动价格上涨，你开始看到那种反应发生。
It's like things can can lay dormant for a really long time, but if they keep building, keep delivering value, and keep moving, eventually, a bull market does come back, and then bullish news does move the price again, and you start to see that reaction start to happen.
所以，是的，那个……
So, yeah, the...
就像……
There's like...
现在有很多事情让人担忧、不确定，甚至可能看跌。
There's a lot of things that are going on that are concerning, uncertain, possibly bearish.
但我认为其中很多是……
But I think that a lot of them are...
它们大概有两到六周的有效期。
They have, like, two to six weeks of expiration dates on them.
而在那之后，我认为会有看涨的势头，继续向上。
And then on the other side of that, I think is there's bullish momentum and continuation to the upside.
我不完全确定这一切会如何发展，但猜测美联储和财政部如何提供市场所需的资金来维持运转，并不是我的职责。
I don't know exactly how all this plays out, but it's not my job to guess how the Fed and the treasury are going to supply the money that the market needs to keep it going.
但我打赌他们会这么做。
But my bet is that they will.
这就是这里的赌注。
And that's that's kind of the bet here.
就是说，别以为他们会任由整个美国经济滑向深渊，或者让股市崩盘跌到零。
It's like, don't think they're gonna allow the entire US economy to slide into oblivion or let the stock market crater to to to zero.
我确实认为他们会提供必要的流动性，让这一切继续运转、繁荣，持续的时间比任何人预期的都要长。
I do think they're gonna provide the liquidity necessary to keep all of this functioning and and thriving and going for for much longer than anybody expects.
我觉得这就是人们真正低估的地方。
I think that that's the thing that people really underestimate.
那些极度看空宏观的人，就是低估了央行和政府延长自己跑道的能力，继续把问题往后推，想出各种新的、不同的、替代性的……
People who get super macro bearish is that you're underestimating the ability of central banks and governments to extend the the runway for themselves to keep kicking the can down the road to come up with new and different and alternative...
无穷无尽的替代方式来藏钱，卖债券，把东西塞进你从没想过的地方的资产负债表里。
Infinitely alternative ways to hide money, to to sell sell bonds, to to cram things onto balance sheets in places you never thought to look before.
而他们是世界上最擅长做这些的人，他们有计划，而且不管怎样都会成功。
And these are the best guys in the world to do it, and they they they have a plan, and it will it will work out in one way or another.
就像贝森特说的，我就是那个庄家。
Like, Bessent saying, I am the house.
他其实是在跟你说，对，没错。
He's kinda telling you, like, yeah.
我会把这事搞定的。
I'm gonna figure this out.
而且我不太确定……
And I'm not so sure...
这算是个非常非主流的操作，但我……
Like, this is a very nonconsensus play here, but I...
我不太确定他是不是其实挺乐意让这些债券收益率就这么涨的，因为他搞了个“史翠珊效应”式的操作，就是那种“没事儿”的态度。
I'm not so sure he's not comfortable with just letting these bond yields run because he kinda did a Streisand effect thing with it, like, oh, it's fine.
别去看它。
Don't look at it.
结果呢，所有人都去看了。
And, like, everybody looked at it.
我觉得他就是想要这个效果。
I think he wants that to happen.
我觉得他是在试图把注意力引向某个方向。
I think he's trying to draw I think he's trying to draw attention and direct attention in certain direction.
我觉得他对于如何处理这一切已经有了计划。
I think he's got a plan for how to to handle all of this.
我还不清楚具体是什么，但我知道这涉及的政策措施会和过去不一样。
I don't know what that is yet, but I know that it involves different policy measures than in the past.
比如说，最简单的例子就是，他们放松了对商业银行的监管，允许它们向市场投放更多贷款，这就把货币创造从美联储转移到了更广泛的银行体系。
Like, you know, the easiest example is, like, they've deregulated the commercial banking sector and allowed them to do more lending into the market, which is taking money creation away from the Federal Reserve, decentralizing it to the the broader banking system.
这已经提供了超过六千亿美元的流动性，而且还在继续。
And that's provided over $600,000,000,000 of liquidity, and it's continuing to do so.
直到最近，我还没查过，但流动性一直在上升，原因就是这个，还有其他一些因素。
And up until kind of recently, I haven't checked recently, but liquidity has been rising for that reason and and for other reasons.
所以……
So...
而且你看。
And look.
这听起来像是很多深奥的宏观经济学术语，但重点是，是的，目前确实存在一些不确定性和一些阻力。
This is a lot of in the weeds macro mumbo jumbo, but the point is that, yes, there's some uncertainty and some some headwinds at the moment.
最终，我认为这些都会向好发展，因为有一些……
Eventually, these resolve to the upside, I think, and it's because there are...
你知道，整个西方的安全……
You know, the whole security of the western...
西方文明的整个安全都依赖于他们提供所需的流动性。
Of western civilization is relying on them providing the liquidity that's needed.
所以我认为他们会这么做，然后这对风险资产和加密货币都是有利的。
So I think that they will, and then that's, you know, constructive for for risk assets and and for crypto.
我想问你……
I wanna ask you...
我想回到比特币的话题上。
I wanna just go back to Bitcoin for a second there.
就是我们在讨论技术指标时，我想问的一个问题。
Just something I wanted to ask when we were talking about the technical indicator.
那十月份的情况是不是正好相反？
Was the opposite true in October?
对
Of
对，就像……
Of, like...
抱歉。
Sorry.
现在我们发现了这个，你知道，这个83,000的支撑位，对吧，就是周线收盘价的那个。
Now we found this, you know, this this 83 k support, right, of the weekly close.
有没有一个……
Was there an...
反向的指标？
A reverse metric?
是不是……
Was it...
这是不是……
Was this...
十月份那次大规模清算日的时候，情况是不是反过来了？还是说……
Was the opposite true in October when we had that giant liquidation day, or was it...
还是说我们花了几个星期才跌破那个位置？
Or did it take a couple weeks for us to kinda cross below that?
因为我觉得那个反向指标应该是，哦，我们收在了某个点位下方，比如98左右。
Because I think that that opposite metric would have been like, oh, we closed below whatever it was, like 98 or something.
我觉得那个信号大概是在11月出现的，如果你看的是同一个东西的话，不过我觉得这更像是你的说法。
I think that came in, like, November if you're following the same thing, but I think it's more your language.
我记得我们10月10号做直播的时候，我好像有种恍惚的感觉，说我不担心。
I think that when we did a livestream, I think on October 10, and I have this, like, this fever dream of saying, like, I'm not worried.
比特币从那个位置再跌两万美元，我们才会破位。
Bitcoin could drop another $20,000 from here before we would break.
我当时说的就是五十周移动平均线。
And that was that was what I was talking about was the fifty week moving average.
对，就是这样。
And and That's it, what it was.
总之，亲爱的读者，剧透一下，我们确实跌了两万，也确实跌破了那个水平。
Anyway, dear reader foreshadowing, we did drop $20,000, and we did break that level.
我得回去仔细看看图表，看看具体是在哪里跌破的，以及在哪里重新测试后又失守的。
I I have to go back and look exactly on the charts of where that broke and where we retested and lost it again.
但是……
But...
对，是的。
Like, yes.
那个……
That...
当时……
When...
让大家转为看空的原因是，我们确实跌了那两万。
What what happened for everybody to flip bearish was we did drop that $20.
我们确实跌破了五十周均线。
We did go below the fifty week moving average.
我们确实进入了技术性熊市。
We did move into a technical bear market.
因为，你看，牛市和熊市，衡量方式有很多种。
Because, like, the bullish and bearish, there's different ways to measure these things.
但大多数人采用的方法是看五十周均线，如果价格在均线之上，就是牛市，在均线之下，就是熊市。
But, like, the way that most people do it is you take the fifty week moving average, and if you are above that, you're in a bull market, you're below that, you're in a bear market.
一旦跌破这条线，我们就技术性进入了熊市。
Once we slip below that, we were technically in a bear market.
然后，你知道，这其实是个很好的例子。
And then, you know, like, is a good example.
我们五月份达到的八万三千美元那个位置，就是熊市中对阻力带，也就是五十周均线的回测。
That 83 k level we got to in May was a bear market retest of the the the the resistance band, the fifty week moving average.
我们在那个位置被压制，然后继续下跌了。
We got rejected off of that and continued lower.
但这次，就目前来看，我们似乎守住了这个位置。
But this time, it seems for the moment, we're holding above it.
现在你看。
Now look.
这需要密切关注，因为如果到本周末，比特币又跌回7.5万以下，我会……
This is something to watch very closely because if by the end of this week, Bitcoin is back below, like, 75 k, I would...
我已经跟我们内部的Pro……
I've said this to our internal pro...
还有Milk Road PRO社区的人说过。
Like, Milk Road PRO community too.
如果我们失去那个水平，现在它离我们还挺远的。
If we lose that level, it's it's far below us right now.
但如果我们真的失去了那个水平，我可能会重新偏向看空，然后说，也许我们会看到一些……
But if we did lose that level, I would kind of tilt back in favor of the bears and say, like, maybe we get some...
比如，也许不会创新低，但可能会继续测试我们已经建立的一些支撑位，或者可能在七万多的某个位置形成一个更高的低点。
Like, maybe not a new lower low, but, like, a continuation of retesting some of the support that we've already put in or maybe forming a a higher low in, like, the seventies somewhere.
就是说……
Like...
基本上，重点是，我们还没有完全脱离危险。
Basically, the point is that, like, we're not totally out of the woods yet.
仅仅因为我们突破了83并且守住了，这对多头来说是个势头，是个加分项。
Just because we got over 83 and held it, this is momentum for the bulls, it's a point for the bulls.
但是……
But...
而且，就像……
And, like the...
就像Ben Cowan说的，证明的责任又回到了空头身上，他们要展示自己在这个市场里还有任何实力，但这也不意味着比特币这周末就会涨到10万。
Like, Ben Cowan says, the burden of proof is back on the bears to show that they have any sort of strength here in these markets, but it also doesn't mean that Bitcoin is going to a 100 k by the end of the week.
所以这只是一个需要密切关注的事情，因为市场在自我对话，多空双方都在试图搞清楚状况。
So it's just something to watch closely because the market is in dialogue with itself as the bulls and bears try to figure this out.
比如，应该是看涨延续、突破并确认，还是空头会重新占据上风？
Like, should it be a bullish continuation and a breakout and a confirmation, or are the bears going to reassert themselves?
所以我正在密切关注。
I'm So watching closely.
目前多头占上风，但你知道，只是……
The bulls are winning for the moment, but, you know, just...
这是需要注意的重要事情，因为你永远不知道什么时候会冒出个推文、黑天鹅事件，或者，你知道，白天鹅事件。
It's an important thing to pay attention to because you can never tell when, like, a tweet is gonna come out, a black swan is gonna come out, or, you know, a white swan.
比如，当贝塞特说他要买回债券曲线的长端并为此削弱美元，而特朗普同一天在白宫说超级流动性，那就像释放了很多多头……
Like, when when Bessett said, I'm buying back the long end of the bond curve and weakening the dollar to do it, And Trump said hyper liquid in the White House in the same day, and that was like a lot of bulls...
动能被释放了，你知道，就像水下的沙滩球开始浮出水面。
Momentum was released and, you know, sort of this beach ball underwater started to to spring up to the surface.
所以当市场似乎在关键水平找到转折点并确认时，你必须非常密切关注，因为几周内你会得到大量信息，告诉你未来几个月到几年该期待什么。
So you you gotta pay attention very closely at key levels like this when the market seems to be finding a turning point and confirming that because you get a lot of information in a couple of weeks that tells you a lot about what to expect for the next months to years.
我喜欢这个说法。
I like that.
我觉得这是个好比喻，或者一个很好的可视化方式，就是这是多头的一个得分点。
I think that's a good analogy or a good way to visualize it is it's a point for the bulls.
我喜欢这个说法。
I like that.
你懂吗？
You know?
然后你就等着看空头怎么回应，市场怎么反应，以及接下来会怎么走。
And then you wait to see what the bears respond with and and how the market responds to it and and what it does from here.
我觉得今天这个小回调，是在上周收盘看涨之后出现的，对吧，从昨天开始，这个回调会告诉我们很多信息。
And I think the little dip that we're kind of experiencing today after this bullish weekly close, right, since yesterday is is gonna tell us a lot.
你知道，想想接下来的几天……
You know, think over the couple next days...
或者说，感觉接下来的几天或者下一两周，会让我们看清这次突破的力度。
Or it feels like the next couple days or next week or two is gonna tell us lot about the strength of this breakout.
我确实想聊聊比特币以外的事情。
I I do wanna jump to non Bitcoin things.
约翰，有一件事我们在开始录节目之前都没来得及讨论，就是以太坊那边的进展。
John, one thing that we didn't even have a chance to discuss before we started recording the show was the developments on Ethereum.
我还没来得及跟上这个。
And I haven't had the chance to catch up on this.
也许你可以给我们总结一下，Vitalik在那里为以太坊描绘的新愿景是什么样的。
And maybe you could summarize for us Vitali kind of painting a new vision there for what Ethereum is supposed to look like.
这很技术性，所以也许你能帮我们这些散户简化一下，告诉我们为什么。
It is very technical, so maybe there's a way you can summarize it down for us Us retailers and tell us why.
这似乎重新点燃了很多对以太坊看涨的热情。
It seems to have renewed a lot of energy for the bullishness of on Ethereum.
不是说之前没人看涨，但确实感觉有点新的氛围。
Not that people weren't bullish before, but it it definitely feels like a bit of a new vibe.
我没想到你会问这个，所以我没有去详细拆解那篇文章。
I I wasn't aware you were gonna ask this, so I didn't go and, like, do a detailed breakdown of that post.
但我要告诉你的是，它的核心要点，我觉得理解起来很重要。
But what I will tell you is that the the high level of it, I think, is important to understand.
Vitalik在这里做的是，他在为以太坊从仅仅是一个区块链（尽管它从来都不只是“仅仅”一个区块链）的演变规划路径。
What Vitalik is is doing here is he's charting a path for evolving Ethereum from just a blockchain, although it's never been, quote, just a blockchain.
以太坊生态里有很多事情在发生，但他正在推动它的进化。
There's a lot going on in the Ethereum ecosystem, but he's evolving it.
他想把以太坊从一个区块链发展成一个世界计算机，一个可以被用来提供安全性和杠杆作用的资源，不仅仅局限于确认区块。
He wants to evolve Ethereum from a blockchain towards being a world computer and a resource that can be used for security and leverage for a lot of other things outside of just, you know, confirming blocks.
所以他写的那篇文章讲的就是这个，很多人都在评论说，基于以太坊技术或围绕它构建的产品和服务的设计空间正在扩大。
And so that's that's kinda what that whole piece that he wrote is about, and a lot of people are commenting on this about, like, the expanding design space for products and services built on or around the Ethereum technology.
所以这就是这个周末发生的事情。
So that's kind of like what happened this weekend.
他写了这篇文章来谈这个。
He wrote this piece about this.
就像我说的，这篇文章技术性很强，但你可以这样理解。
It's, like I said, highly technical, but that's the way to think about it.
这是一个从区块链到世界计算机的进化，一个去中心化的计算机，全世界每个人都可以用它来满足计算需求，从中获得经济和货币安全、计算安全以及计算能力。
It's an evolution from a blockchain to a world computer, a decentralized computer that everybody in the world can use for computational needs that they can derive economic and monetary security from and computational security from and compute from.
然后，在以太坊上能构建什么、可能实现什么、能催生哪些产品和服务，这个设计空间在那个世界里得到了极大的扩展。
And then the design space for what can be built on Ethereum, what can be possible, what kinds of products and services can be enabled from this is radically expanded in that in that world.
“世界计算机”这个词在以太坊的讨论中偶尔出现过，但我觉得他是在更明确地指出方向，说这就是北极星。
The the the term world computer has been used for Ethereum off and on a little bit, but he, I think, is, like, kind of pointing more in the direction and saying, this is the north star.
这就是我们要去的地方。
This is where we're going.
所以这个周末有很多人写了关于这个的文章。
And so, like, a lot of people have written about this this weekend.
就像我说的，我还没有……
And like I said, I haven't...
因为我不知道谁在讨论这个，我还没有深入钻研它的技术细节，但这就是目前的发展方向。
Because I didn't know who's talking about this, I haven't, like, drilled down a ton into the technical details of it, but that's kind of the direction of travel that's happening here.
关于这一点，我觉得有件事很重要要说。
And this is something I think is important to say about this.
在数字资产领域，你要找的不是那些陷入人身攻击、个人性格争执，或者过分关注短期价格波动、图表上的微小变化，或者被新奇的闪亮事物分散注意力的人。你要找的是建设者，这个领域有很多这样的人，但像Vitalik这样的建设者，他们始终专注于提供最大的价值，构建独特、新颖且极其有价值的东西，并将其推向市场，以专注、坚定、一致的态度，无论牛熊、冬夏、风雨无阻，持续建设，不断添加，不满足于现状，不说“好了”。
Like, what you wanna look for in digital assets are people who are not getting drugged down into, you know, ad hominem attacks and individual disagreements of personalities or getting, you know, hyper fixated on moment to moment price action or wiggles on the chart or getting, you know, distracted by the bright new shiny object, what you wanna look for are builders, and there's a lot of them across the space, but builders like Vitalik who have stayed very focused on delivering the most value that they can, building something that is unique, novel, and extremely valuable, delivering that to the market, doing it with focus, certainty, consistency, bowler bear, winter, summer, you know, rain or shine, and then continuing to build that, add to it, not getting complacent, not saying like, okay.
就这样了。
That's it.
我完成了。
I'm done.
你知道，拍拍手走人。
You know, dust my hands off and walk away.
以太坊作为产品和整个生态系统的持续发展路线图一直非常动态。
The Ethereum straw map for the continued development of Ethereum as a product and and and for the ecosystem overall has been extremely dynamic.
他们一直在交付成果。
They've been delivering.
有很多人站出来承担领导角色，而不是把一切都压在某一个人身上。
There's been a lot of people stepping up to play leadership roles rather than putting it all on one person.
所有这些都令人鼓舞，它们让以太坊作为网络、生态系统和资产（ETH）都表现极佳，我认为这一切都进展顺利……
All of these things are very encouraging, and they set Ethereum up to do extremely well as a network, as an ecosystem, as an asset, Eth, and and all of these different things are are going very well, I think, in...
从一个密切关注这一切的人的角度来看。
From a perspective of somebody who's been watching this pretty closely.
所以我认为这些都是你想看到的东西。
And so I think all of that is is stuff you wanna see.
我觉得朝着世界计算机这个目标前进，是非常有力量的事情，市场会对此做出反应，并且会极度重视它。
I think that getting towards that goal of the world computer is something that is really powerful and something that the market will react to and and value to an extreme degree.
这……
It...
当然，这不是一夜之间就能实现的。
It's not an overnight thing, obviously.
但你知道，这就是为什么我一直和像以太坊这样的人保持沟通，他们正在研究、设计并倡导他们希望在以太坊生态系统中看到的下一步变化。
But, know, this is why I keep doing these check ins with with people like Ethereum who are researching and designing and and advocating for the changes they want to see next in the Ethereum ecosystem.
因为很多这些东西都非常枯燥和技术性，但如果你理解它，并花时间去，比如，你知道，我说过，保持安全，保持学习，让自己了解这些事情，那么我认为，作为投资者，你会对那些在几个月或几年后真正实现的事情占据优势。
Because a lot of this stuff is very boring and nerdy, but if you understand it and take the time to, like, you know, I say, stay safe, stay educated, educate yourself about these things, then you, I think, advantage yourself as an investor for things that actually materialize many months or years down the road.
而且，如果你愿意花时间去深入了解这些事情，你就能在理解上领先市场。
And and you can, you know, kind of beat the market to understanding a lot of these things if you just take the time to invest in in doing that.
所以，是的，这有点像是对这些事情的一通闲聊。
So, yeah, kind of a, like, a a ramble about all these things.
但总的来说，你应该从中得到的启示是，以太坊不再仅仅是一个区块链了。
But in general, that's that's what you should take away from this is Ethereum isn't just gonna be a blockchain anymore.
它会成为一台世界计算机。
It's gonna be a world computer.
这是一个完全不同的价值主张，一个更大的价值主张，而且对以太坊来说非常看涨。
That's a much different value proposition, a much bigger value proposition, and, it's very bullish for Ethan.
如果现在Vitalik在节目上，你会问他什么？
If you had Vitalik on the show right now, what would you ask him?
你会问他一个问题吗？
Do you ask him one question?
你会怎么……
What would you...
你知道的。
Know.
问他关于这个的什么？
Ask him about this?
你想知道什么？
What do you wanna know?
你有什么不明白的？
What do you not understand?
他一直暗示要写一些关于DeFi的科幻小说，我真的很想说，兄弟，什么鬼？
He's been alluding to writing some, like, sci fi novels about DeFi, and I kinda wanna be like, bro, what?
但是……
But...
不。
No.
我……
I...
我想问他的其实是，你知道，他说的很多事情都是很多年以后、未来很久远的事情。
What what I would like to ask him about this is, like, you know, a lot of the things he's talked about are many years down the road and many years into the future.
而要达到那个未来，关键在于过程中不能把所有人都弄丢了。
And in order to get to that future, it's path dependent on not losing everybody on the way.
所以我想听听，你知道，他对以太坊如何从现在走到那一步的想法。
And so I'd like to hear, you know you know, his his thoughts about does Ethereum get from here to there.
因为，你知道，设定一个大目标，说这就是我们要去的地方，这是2029年或2030年或2035年的目标，这很好。
Because, like, it's it's great to put up this big target and say this is where we're gonna go, and this is the target for 2029 or 2030 or 2035.
但现在是2026年。
But it's 2026.
接下来的几年会是什么样子？你希望看到生态系统如何重新调整、扩展、改变、演变，以便让那个未来能够实现或达成，以及实现它的计划是什么？
What do the next couple of years look like, and how how do you, like, you know, wanna see the ecosystem realign, expand, change, evolve in order to enable that future to to manifest or to be reached, and what's the plan to get there?
然后深入探讨一些细节，比如朝着那个目标迈出的下一步是什么。
And just sort of drill down on some of those details of, like, what are the next steps towards that goal.
但是，是的，我不知道。
But, yeah, I don't know.
那大概会是我的第一个问题。
That that would be my first question, I guess.
这是否会...
Does this does this...
你觉得这会不会让以太坊摆脱许多人所说的多年盘整局面？
Do you think that this breaks Ethereum out of its years long consolidation as many would put it?
天哪。
Oh god.
这可是个大问题。
This this is this is the big one.
什么时候涨啊，兄弟。
When moon, man.
什么时候涨。
When moon.
这可是个大问题。
This is the big one.
所以……
So...
好。
Okay.
所以以太坊，在2015年、2017年、2018年那些大规模牛市初期，一直到……
So Ethereum, in in the the the first, like, major massive bull runs of, like, 2015, 2017, 2018 up until...
我觉得2021年是最后一次真正的大涨，那时候以太坊第一次突破了2000美元。
I think, like, 2021 was the last, like, really, really big one when it got over 2 k for the first time.
那次以太坊的价格走势，其实是在预示它会成为世界计算机。
That that price action from Ethereum was anticipating Ethereum becoming the world computer.
以太坊要成为全球的……
Ethereum becoming the global...
就像ETH Labs那些人说的，成为全球金融的根基。
The root of global finance as the ETH Labs guys like to say.
而且那对一个非常年轻的资产来说，是一个非常看涨的观点。
And and that was a extremely bullish thesis on a very young asset.
现在五年过去了，他们一直在努力建设和实现这个目标，而且越来越接近，进展也越来越大。
And now we've had five years of them actually trying to build and deliver on that, and they're getting closer and closer and making more and more progress.
那段时间价格波动很大，原因有很多，但他们交付的东西，比如以太坊从工作量证明切换到权益证明，网络没有宕机，也没有任何中断，这些发展上的进步，真是了不起。
And the price action has been choppy in that time for a lot of reasons, but the the amount of things that they've delivered, the the, like, the the developmental progress of Ethereum switching from proof of work to proof of stake without the network going down and without any disruptions.
以太坊生态系统实现的这些工程壮举，从计算机科学的角度来看，简直令人惊叹。
Like, a lot of these feats of engineering that have been achieved by the Ethereum ecosystem have been just astounding, like, from, like, a computer science perspective.
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但他们现在也终于开始兑现很多承诺了。
But they're also now finally starting to deliver on a lot of what they've been promising.
我们看到了一大堆看涨的消息，机构把更多的资金、产品和服务投入到以太坊生态系统中。
We've seen a whole bunch of bullish announcements of institutions moving more capital and products and services into the Ethereum ecosystem onto Ethereum.
新东西一直在推出，新功能不断解锁，就像我说的，这扩大了以太坊生态系统中可能性的设计空间。
New things shipping all the time, new kinds of functionality being unlocked that, like I said, increases that design space for what's possible in the Ethereum ecosystem.
所以我们看到的那个最初的价格上涨，实际上开始……
So that initial price bump that we've seen is starting to actually...
就像，对以太坊未来的预测和投机，实际上开始变成现实了。
Like, the the forecast and speculation on the future of Ethereum is actually starting to materialize.
以太坊的价格也开始回升到五年区间的顶部，并且突破了多年来对比特币和其他资产的下跌趋势。
And Ethereum's price in in kind is starting to move back towards the top of this five year range and breaking out of this, like, many, many years downtrend against Bitcoin and other assets.
所以我很想看看接下来会发生什么，因为如果这个趋势能保持住……
And so I'm I'm curious to see what happens with that because if that holds...
如果以太坊真的突破并引领山寨币市场，进入我们自2021年以来看到的第一个山寨季，你会在数字资产领域看到一些非常疯狂的事情。
If if Ethereum does break out and lead the Altcoin market into, you know, the first Altseason we've seen since, like, 2021, you're gonna see some really wild things in the digital asset space.
不过我觉得接下来就是这个了。
And I think that that's that's what's next, though.
就是说，我觉得下一步就是比特币确认牛市。
Like, I think that is the next thing to happen is that Bitcoin confirms its bull market.
以太坊冲到区间顶部。
Ethereum goes to the top of its range.
然后突破这个区间。
It breaks out of that.
一旦以太坊突破五千美元，并且站稳那个区间，我觉得加密货币市场会很快变得非常火爆。
And then once we get north of 5 k on Ethereum and, like, accept it into that range, hold that range, I think things get really, really spicy in crypto really fast.
你知道吗，加密货币有个奇怪的地方，就是你在里面待得越久，账户好像就越多。
You know, one of the weird things about crypto is that the longer you're in it, the more accounts you seem to end up with.
你在一个地方买入，在另一个地方交易，在别的地方赚收益，如果你真的需要资金，最后不得不卖掉一些你可能本来想留着的资产。
You buy in one place, trade somewhere else, earn yield somewhere else, and if you actually need capital, you end up having to sell something that you probably wanted to keep.
这就是为什么我们Milk Road要和Nexo合作。
That's why we at Milk Road are partnering with Nexo.
他们把所有东西都放在一个账户里。
These guys keep the whole thing under one account.
你可以买卖加密货币，对已有的资产赚取利息，甚至可以用你的资本借款，而不必卖掉它。
You can buy, trade crypto, earn interest on what you already hold, and even borrow against your capital without having to sell it.
所有操作都在一个地方，一个账户，都在Nexo上。
All in one spot, all in one account, all on Nexo.
所以如果你需要流动性，但不想增加仓位，或者你已经持有加密货币，想让它发挥更大作用，我觉得Nexo值得你花时间了解。
So if you need liquidity but you don't wanna up your position or you're already holding crypto and you wanna be able to do more with it, I think Nexo is worth your time.
我们很喜欢和他们合作。
We love working with them.
我想你也会喜欢的。
I think you will too.
告诉他们，是Milk Road推荐你来的。
Tell them Milk Road sent you.
所以你觉得那个……
So you think that that...
你觉得山寨币的行情上涨会由以太坊领涨吗？
You think you think an alt season rally would be led by Ethereum?
我不确定是否一定要由以太坊来领涨。
I don't know that it necessarily needs to be led by Ethereum.
但我要说的是，我认为那……
But I will say that I think that that's...
以太坊是蓝筹山寨币。
Ethereum is the the blue chip Altcoin.
它是最大的山寨币。
It is the biggest Altcoin.
它一直是最大的山寨币。
It has been the biggest Altcoin.
所以以太坊，我觉得只是……
So Ethereum, I think just...
你会看到一些绝对疯狂、疯狂的事情开始发生。
You would see some absolute just wild, wild things start to happen.
如果以太坊涨到五六千美元并且稳住，然后继续往上走，是的，我觉得那笔热钱，投机资本，会有好几万亿。
If Ethereum got over 5 or 6 k and held it and then, like, continued higher, yeah, I think that the the the hot ball of money, the speculative capital, you'd have multiple trillions.
我觉得你会看到加密货币市值在很短的时间内增加两万亿到六万亿美元，那将是一个巨大的山寨季。
I think you'd see between 2 and $6,000,000,000,000 of market cap added to crypto in a pretty short order, and that would be a massive alt season.
而且那……
And that...
我确实认为那个时刻迟早会来。
I I do think at some point that is coming.
我觉得你会看到市值增加两万亿到六万亿美元。
I think you are going to see somewhere between 2 and $6,000,000,000,000 of market cap added.
如果这轮牛市得到确认，如果这一切都稳住，我觉得方向上是会从三万亿涨到十万亿，我觉得那是一个大概的范围。
If this bull market confirms, if all this holds, I think directionally we move from 3,000,000,000,000 to 10,000,000,000,000, and I think that that is, you know, a ballpark.
我的意思是，那个范围很宽。
I mean, there's a wide ballpark on that.
比如，可能是三万亿到六万亿。
Like, it could be 3 to 6,000,000,000,000.
可能是3万亿到12万亿美元。
It could be 3 to 12,000,000,000,000.
也可能是3万亿到10万亿美元。
It could be 3 to 10,000,000,000,000.
我不知道这轮牛市最终会走到哪里，但这就是预期。
I don't know where that ends up in this bull market, but that would be the expectation.
一旦我们突破了那些关键的历史五年阻力位，确认站稳并进一步突破，我觉得你会看到整个加密货币市场出现非常疯狂、爆发性的、极度狂热的牛市行情。
It's like once we clear those kind of, like, key historical five year resistance levels, confirm above it, break out higher, I think that you'd see just a a very wild explosive, like, very euphoric bull run-in crypto overall.
你对以太坊的目标价是多少？
What's your price target for Ethereum?
更高。
Higher.
告诉我们吧。
Tell us.
首先
First
在接下来的二十四个月内。
In the next twenty four months.
在接下来的二十四个月内。
In the next twenty four months.
不是一百年后。
Not not in a hundred years.
人们总是说这种话。
People always say shit like that.
比如，比特币有一天会涨到八千万。
Like, Bitcoin's gonna be at 80,000,000 one day.
对，也许吧。
It's like, yeah.
也许吧。
Maybe.
但事实是，不会。
But it's like, no.
不。
No.
不。
No.
就是就是……
Just just...
比如，在你刚才描述的这个场景里，我们可能会看到市值翻三倍……
Like, in this scenario, you just outlined that it's like we may see this tripling of the mark...
加密货币总市值在很短的时间内翻三倍。
Crypto market cap in a very short amount of time.
那在这种情况下，以太坊的目标价是多少？
What is the price target for Ethereum within that?
好的。
Alright.
首先，当……
First, when...
如果你想要我给出价格预测，你得在节目开始前提醒我，因为我躺着的时候做不了太多数学题。
If you want, like, price predictions for me, you gotta warn me before the episode because I can't do a whole lot of math lying
随口说说而已，兄弟。
on off the cuff, man.
我想要，就是……
I want, like, just...
听我说。
Listen.
即使什么……
Even what...
听我说。
Listen.
这就像读心术的把戏，兄弟。
This is like a mentalist trick, man.
当我说那句话的时候，你脑子里已经浮现出一个数字了。
When I said that, a number came to your head.
一个数字立刻在你脑海里闪现。
A number immediately flashed in your mind.
我想知道那个数字是什么。
I wanna know what that is.
我不在乎解释。
I don't care about the explanation.
直接告诉我们
Just tell
是什么。
us what it is.
我来告诉你我的想法。
I'll tell you what I think.
我来告诉你我的想法。
I'll tell you what I think.
那个，那个……
The the...
我在想的就是这个解释。
What I'm thinking is the explanation.
好的。
Okay.
所以现在，以太坊突破2500美元是关键阻力位，需要关注。
So right now, getting above $2,500 was the key resistance to watch out for Ethereum.
我们已经突破了。
We've gotten above that.
并且站稳了。
We've been accepted above that.
接下来，我认为短期内目标应该是3000美元。
The next target in relatively short order, in my opinion, should be 3 k.
到了3000之后，接下来要弄清楚的是，我们需要多久才能回到5000，因为那是历史水平，我们到过两次都没突破，现在还需要突破它。
After we get to 3 k, the next thing to figure out is how long does it take us to work back up to 5 k because that's been, like, the historical level that we've gotten to twice, haven't broken through, and we still need to get through that.
所以这就是我目前关注的方向。
So that's kind of what I'm looking for here.
我觉得以太坊接下来的预期应该是守住2500。
I I I think the expectation for Ethereum next should be hold 2,500.
别跌破这个位置。
Don't lose that.
只要不跌破，下一步就是3000，而且我觉得会很快。
If we don't lose that, 3,000 happens next, and I think pretty quickly.
然后我们得冲到5000。
And then we gotta get to 5 k.
突破5000之后，我觉得预期……
After we break five k, I would say the expect...
对我来说，预期会在6000到10000之间。
The expectation for me would be somewhere between 6 10 thousand.
但我不太确定最终会落在哪个位置，因为以太坊比比特币更难预测。
But I don't have a high degree of conviction on where we end up in that space because Ethereum is much harder to predict than Bitcoin.
它的历史走势要复杂得多……
Its chart history is much more...
不是那种忽上忽下的，但也不是像钟表一样精准。
Not erratic, but, like, it's it's not clockwork.
它不是一门精确的科学。
It's not exact science.
它的价格和波动性会有巨大的起伏。
It has enormous swings in price and volatility.
它的代币经济比比特币要好得多，也更有特色。
It has much better and different tokenomics than Bitcoin has.
所以，要评估以太坊的顶部目标，需要考虑很多因素。
So there's a lot that goes into evaluating that that target of where Ethereum's top should be.
但对我来说，我的预期一直是，你知道，如果你突破2500，接下来就是3000，然后你得突破5000。
But for me, my expectation has always been, you know, if you clear 2,500, you go to 3 k next, then you gotta get past 5,000.
一旦你突破并站稳5000美元，预期就在6000到10000之间。
Once you do get past and hold $5,000, the expectation is somewhere between 6 and 10,000.
我不确定，但这就是我大概会关注的方向。
I don't know, but that's kinda what I would be looking for.
所以，一旦我们进入那个区间，一旦超过5000，我觉得你会预期更高的价格，你会预期价格发现，但你对具体会到哪儿并没有很清晰的概念……
And so, like, once we get up into that range, once we get over 5,000, I think you expect higher prices, you expect price discovery, but you don't have a whole lot of clear idea as to, like, exactly where...
而且你可以，比如，你可以画斐波那契回撤线。
And you can, like, you can pull Fibonacci's.
你可以做测量移动。
You can do measured moves.
你可以在图表上做各种技术分析来得出一个估计。
You can do a whole bunch of different things on the technical analysis on the charts to come up with an estimate.
但我不想，比如，立个flag。
But I don't wanna, like, plant a flag.
就像，这就是我们要达到的目标，因为我不太确定，而且我觉得没人能确定。
It's like, this is the target we're gonna get to, because I don't really know, and I don't think anybody does.
这就是价格发现的意义，就是找出那个顶部在哪里。
And that's what price discovery is for, is figuring out where that top would be.
你的反常目标是什么？
What is your perverse target?
就是，就是，完全离谱。
Like, just just, like, totally ridiculous.
听着，那个闪出来的数字，那是个……
Like, listen, the number that flashes, that's a...
我们刚才说的那个解释太棒了。
Is a wonderful explanation we just said.
接下来的二十四个月，那段时间的最高价。
Next twenty four months, the the high price in that time.
我们还在录同一个播客。
We're doing the same podcast.
现在是2028年9月28日。
It's 09/28/2028.
这十年都快结束了。
The decade's almost over.
哇，真没想到。
Say, wow.
我真不敢相信，自从我问你以来，过去二十四个月里ETH竟然涨到了某个价格。
I can't believe ETH hit x price at some point in the last twenty four months since I asked you.
那是多少？
What is it?
我大概会说，从方向上看，我们在看一万到一万二。
I I would just say, directionally, we're looking for 10 to 12 k.
这就是我想说的。
That's that's kinda what I would say.
但是，我也不太确定。
But, like, I don't I don't know.
而且，说实话，我不太想在这个问题上给出一个确切的数字，因为这真的要看具体情况。
And I don't really feel comfortable trying to get nailed down on this, by way, because, like, it really is case dependent.
不。
No.
你看。
Look.
听我说。
Listen.
因为那个论点很大程度上取决于以太坊能拿下多少可寻址市场，以及能不能持续拿下。
Because a lot of that thesis depends on how much of the available addressable market Ethereum captures and continues to capture.
所以现在，你看一下成绩单，以太坊在很多方面都领先，比如代币化资产、稳定币、真实金融。
So right now, if you look at the scoreboard, Ethereum is leading on a lot of these things on tokenized assets, on stablecoins, on authentic finance.
他们正在认真且强力地争取机构资金。
They're making a real and strong play for institutional capital.
那是个巨大的蛋糕，巨大的可寻址市场。
That is a huge pie, huge addressable market.
不过，对我来说，他们能不能继续拿下65%、70%或者55%的市场份额，这可不是板上钉钉的事。
However, it's not a given to me that they are going to continue to capture 65%, 7% of that market or 55, whatever it is.
就像他们现在占了最大份额。
It's like they have the lion's share.
他们得守住这个最大份额。
They have to hold the lion's share.
即使没有占据主导份额，他们也能涨到一万美元。
They can still grow to $10,000 without the lion's share.
他们只需要继续抓住市场的一部分就行。
They just have to, you know, continue to capture some part of the market.
但如果他们继续主导，如果大部分资金都流向他们，如果……
But if they continue to dominate, if they get most of that capital, if...
或者如果大部分资金先流入以太坊，然后再流向其他地方，那么以太坊的论点就会变得非常有力。
Or if most of it goes to Ethereum first and then to other places, the thesis on Ethereum gets very strong.
而且它……
And it...
但它……
But it it...
这一切都取决于未来两年，这些资金是否会迁移到那些隔离的许可链上。
It's all dependent on in the next two years, does that capital migrate onto, you know, siloed permission chains?
是否会迁移到另一条无许可链上。
Does it migrate onto another permissionless chain?
这些资金会流向以太坊吗？
Does it come to Ethereum?
我认为大部分资金已经并且将继续流向以太坊，但这并不是必然的。
I think the lion's share of it has and will continue to come to Ethereum, but that's not a given.
所以，未来两年观察这些资金的去向是一个重要的事情，这也会影响以太坊的投资逻辑。
So that is a big thing to watch over the next two years to see where that capital goes, and that factors into the thesis for Ethereum.
这就是6000美元、12000美元和20.1万美元以太坊之间的区别。
That's the difference between a $6,000 ETH, a $12,000 ETH, $201,000 dollar ETH.
所以这就是关键所在，市场必须搞清楚这一点。
So this is what's to play for, and the market has to figure that out.
目前这还不是板上钉钉的事，所以很难说我对2028年的目标价是什么看法。
It's not a given right now, and that's why it's really hard for me to say what I think a target for 2028 would be.
你的幸运数字是多少？
What's your lucky number?
这有点奇怪了。
This is getting weird.
你有幸运数字吗？
Do you have a lucky number?
没有。
No.
其实也没有。
Not really.
一般我会说三，但，像三？
I would say three generally, but, like Three?
三？
Three?
没有哪个好的价格目标是以三开头的，除非是像三万这样的。
There's no there's no good price target that starts with three unless it's, like, 30,000.
三万。
30,000.
这就对了。
There you go.
有可能。
It might.
会的。
It would.
这是一个完整的，这是一个12倍。
It's a full It's a 12
从这里开始。
x from here.
轻松12倍。
Easy 12 x.
就像Zcash一样。
Just like Zcash.
所以我们从这里开始有12倍的空间。
So we got 12 x from here.
顺便说一句，我觉得我们应该利用这段时间聊聊QNT。
I think we should spend this time talking about QNT, by the way.
但是，对。
But, like Yeah.
这就是我……
That's that's what I...
嗯，这就是我接下来要讲的。
Well, that's what I'm going into next.
说到疯狂的价格波动，QNT，一个大多数人从未听说过的东西，这个周末像疯了一样暴涨，从大概，我不知道是多少，大概40、50美元涨到500美元，之类的。
Speaking of speaking of insane price movements, QNT, something most people never heard of, broke out like crazy this weekend, went from, like, I don't know what it was, like, $40, $50 to 500, whatever.
反正就是很离谱。
Something something obscene.
所以大概在这个范围内。
So something in that range.
QNT是什么？
What is QNT?
它为什么暴涨？
Why did it break out?
好的。
Alright.
那么QNT。
So QNT.
QNT已经存在很长时间了。
QNT has been around for a really long time.
这是……
This is...
我一直强烈推荐。
I've been pounding the table.
我们没有太多时间讨论这个。
We don't have a ton of time to talk about this.
我们改天再聊。
We'll do this another time.
但我长期以来一直强烈主张，数字资产行业，整个领域充满了高质量但被错误定价的代币项目。
But I've been pounding the table for a long time saying that the digital asset industry, the whole landscape is full of tokens that are great high quality projects that are just mispriced.
它们不是幽灵链。
They're not ghost chains.
它们不是垃圾代币。
They're not crappy tokens.
它们是优秀的项目，只是市场还不理解，估值也还没跟上。
They're excellent projects that the market just doesn't understand and the valuations haven't caught up to yet.
QNT 就是这样的代币之一。
Q and T is one of those tokens.
这个项目的创始人曾经是英国财政部网络安全部门的负责人。
The founder of this project used to be the head of cybersecurity for the treasury departments of the United Kingdom.
他在网络安全、技术和数字资产领域已经工作了几十年。
He's been working in cybersecurity and and in technology and and digital assets for for decades.
这个项目拥有多项专利。
This project has several patents around it.
它最近刚刚与一家叫 Clearing House 的公司达成了合作，看起来它会被选中，成为美国和欧洲银行业很大一部分基础设施的重要组成部分。
It just recently closed a deal with a a company called Clearing House, and it looks like it's gonna be chosen to be sort of, like, serious amounts of infrastructure for a large portion of The United States banking industry and European banking industry.
目前还不清楚QNT代币……
It's not yet clear how the the QNT token...
我还不清楚。
It's not clear to me.
我可能得再去查一下，所以如果我说得有点过时了，先道个歉。
I may have to go refresh myself on this, so apologies if I'm out of date on this.
但我还不清楚，所有这些机构和国家级金融活动，对QNT代币来说，价值捕获机制到底是什么，它怎么参与其中。
But it's not yet clear to me what the value capture mechanism from all this institutional and nation state financial activity is going to be for QNT, the token, like how that is a factor in that.
不过它的代币经济模型真的很棒。
But the tokenomics of it are amazing.
因为它不是风投币，没有一半的代币供应量握在那些每个月都会往你头上砸盘的人手里。
Because this is not a VC coin, it doesn't have half of the token supply held in the bags of people who are gonna be dumping on your heads every month.
所有代币，几乎所有的，我觉得现在都已经在流通了。
All of the tokens, almost all of them, I think, are in circulation right now.
我记得有个硬上限，大概1460万左右，QNT代币总共就这么多。
There's a hard cap of, I think, 14.6 or thereabouts QNT tokens that will ever exist.
所以它的代币经济可以说比比特币或以太坊还要好，供应量非常稀缺，而且有真正的采用和与大型机构的合作。
So it's got, you know, arguably better tokenomics than Bitcoin or Ethereum and very scarce supply and a real adoption and partnerships with major institutions.
而且这个项目的负责人，整个职业生涯都在金融和网络安全的最顶层工作。
And the the leader of the project is somebody who spent his entire career at the highest levels of finance and cybersecurity.
那项专利技术，也就是over ledger系统，是一个非常先进、非常严肃的技术解决方案，经过了严格的审查流程才被清算所选中的。
The the patented technology, the over ledger system is a very advanced and very serious technological solution that went through a huge vetting process to get selected by clearing house.
所以，一个庞大的资本网络和金融货币参与者选择QNT，这是对他们极大的信任投票。
So this is a huge vote of confidence by a huge network of capital and of financial and monetary players to pick QNT.
价格之所以这样暴涨、反应这么强烈，第一个原因是它被忽视了很久。
The reason why the price exploded like this and responded so much is that, number one, it's been overlooked for a long time.
第二个原因是……
Number two, there...
代币经济简直完美。
The tokenomics are immaculate.
所以QNT的流通量非常非常少。
So there's very, very little QNT around.
如果QNT的需求突然激增，由于代币稀缺，价格会非常剧烈地上涨。
And if there is a sudden spike of demand for QNT, the the price reacts very violently to the upside because of the scarcity of the token.
所以对我来说，这只是一个项目的例子，那里曾经有……
And so this is an example to me of just one project where there has been a...
在任何行业，无论是数字资产、人工智能还是其他领域，都有一些最优秀的团队，他们不被看跌情绪动摇，也不被市场忽视，而是继续建设、继续交付、继续朝着目标前进。
One of the best teams in in any industry, digital assets, AI anywhere, one of the best teams anywhere building something, not getting shaken out by bearish sentiment or being ignored by the market and just keep building, keep delivering, keep moving towards their goal.
他们实现了那个目标，然后价格结果就高得多。
They achieve that goal, and then the price result is much higher.
我认为这就是你会在很多数字资产中看到的情况……
Think I this is what you're going to see happen in a lot of digital asset...
很多数字资产行业中的许多项目，那些保持专注、拥有优质产品和优秀团队的项目，最终会找到产品市场契合点。
A lot of the digital asset industry for a lot of these projects who have remained focused, who have had quality products that they're building with a quality team, and then eventually that will find product market fit.
市场会赶上这一点，你会看到大量资本涌入，以认可这里正在创造和交付的价值。
The market will catch up to this, and you'll see a lot of capital come in to to, you know, appreciate the value that's being created and delivered here.
所以，显然，这只是我根据周末所见所记得的快速概述，但还有……
So, obviously, this is just a quick, you know, rundown from what I remember from what I saw this weekend, but there is...
这可不是什么空谈。
This is not a nothing burger.
这个代币不是空壳项目，也不是可以忽视的东西。
This token is not vaporware, and it's it's not something to ignore.
它不一定非要出现在你的投资组合里，但值得你去了解并关注。
It doesn't necessarily mean that it has to be in your portfolio, but it is something to educate yourself about and to pay attention to.
因为我一直说，数字资产不是一堆空壳项目。
Because like I've been saying for a long time, digital assets is not a bunch of vaporware.
这不是一个骗人的行业。
It's not a scam industry.
它更像是那些精心打造的工程奇迹，只是还没有迎来用户和广泛采用，而市场一直乐于忽视它们，去追逐其他地方的收益和市场中的热门项目。
It's a, like, more akin to, like, these wonderful immaculate marvels of engineering that have been created that just haven't yet had the users and adoption come to them and that the market has been very content to ignore while it's been chasing gains in other places and shiny objects in other parts of the market.
但这种状况不会永远持续下去。
But that will not last forever.
这些努力最终会落地，比如像QNT的清算所交易这样的成果。
This will materialize into things like this clearinghouse deal for Q and T.
其他项目也会发生同样的情况。
This will happen for other projects as well.
而且我觉得这里有一个巨大的市场，会继续发展壮大，因为这些长期建设的东西终于开始找到用户、找到产品市场契合点，并且获得像这样的交易和公告。
And I think that there's a large large market that'll that'll continue to come to fruition here as these things that have been built for so long finally start to find adoption, product market fit, and get some deals and announcements like this.
所以关于Q和T，我们还有很多可以说的。
So there's a lot more we can say about Q and T.
我们现在可能没有时间深入讨论。
We may not have time to get into right now.
但是，是的，我认为这只是一个重要的例子，一个缩影，展示了我如何看待整个数字资产领域。
But, yeah, I think it's just an important example, a microcosm of how I see the the overall digital asset space.
那么，约翰，这是我们应该采用的策略吗？
Is this is this a strategy we should employ then, John?
比如，这是人们应该做的事情，或者我们应该在节目中做，或者我们应该在Milk Road PRO中做，就是寻找这些项目。
Like, is this something that people should do or we should do on the show or we should do it in Milk Road PRO of, like, look for these projects.
因为……
Because...
我们会在录完这个之后，马上接着录那个。
And we're gonna we're gonna record it after hours right after this.
我们可能会再多聊一点。
We'll probably talk about it a little bit more.
但你最近几周买的那些山寨币，其实也都是挺知名的项目。
But even a lot of your your Altcoin purchases in the last couple weeks are on pretty well known projects.
你懂我的意思吧？
You know what I mean?
它们不是那种……
They're not they're not...
这些不是特别冷门的，不是说QNT冷门，但它确实比较老，知名度没那么高，关注度也没那么高，可以这么说。
These aren't super obscure or not not that QNT is obscure, but it is older, lesser known, not as high mindshare, let's call it.
你不会在加密货币推特上看到。
You don't go on crypto Twitter.
大家都在讨论它，就像讨论Near或Hyperliquid那样，或者更多像……
Everyone's talking about it like you do with something like Near or Hyperliquid or, you know, more of the...
那一篮子当时非常流行的代币，尤其是为这个周期准备的。
That that basket of very popular tokens at the time, especially for going into this cycle.
但这是不是一种我们应该……
But is this a strategy we should...
人们应该采用的策略？
People should employ?
比如说，寻找其他类似的潜在代币。
Be like, look for other potential tokens like this.
就像他们一直在建设，终于要有所回报了。
It's like they've been building for a while, it's finally gonna pay off.
我觉得“应该”这个词不太对，但“可以”绝对是对的。
I don't think should is the right word, but could is definitely the right word.
因为你可以四处看看，然后说，好吧。
Because you could go and look around and say, like, okay.
这周什么在涨？
What's pumping this week?
什么吸引了大家的注意力？
What's got all the attention?
这周什么涨了200%？
What's up 200% this week?
然后试着去追那些K线。
And try to chase those candles.
或者你也可以说，好吧。
Or you could say, alright.
比特币已经确认进入牛市了。
Bitcoin is confirmed to bull market.
山寨币都在爆发。
Altcoins are popping off.
有什么是我在团队、技术、基本面、代币方面都看好的？
What is something that I think I have conviction in in terms of the team, the technicals, the fundamentals, the token?
想出一个对你有意义的投资逻辑，然后配置资金，等市场来证明你是对的。
Come up with a thesis that makes sense for you and make an allocation and wait for the market to prove you right.
比如说……
Like...
而且我觉得这完全是一种合理的策略。
And I think that's a completely legitimate strategy here.
你其实可以就……
You could have just...
说实话，我很久以前就是这么做的。
And to be honest with you, I did for a long time.
在2021年牛市和2022年下跌的时候，我有一阵子每周就买100美元的Q和T。
I was just, like, buying a $100 of Q and T, like, once a week for a while in the the 2021 bull market and 2022 when it was coming down.
有一段时间我甚至以低于100美元的价格买入。
Like, I was buying it below a $100 for a while.
但我这么做的原因，并不是因为我觉得我会推荐给所有人，或者它应该出现在我的Milk Road投资组合里，或者每个人都必须持有这个，而只是因为他们不会消失。
But the the reason for that was not because I thought I was gonna recommend it to everyone or it should be in my Milk Road portfolio or that everybody needed to have a position in this, but just that they weren't going away.
他们在做很了不起的事情。
They were building something great.
它们已经建成了。
They were built...
他们有一个很棒的团队。
They had a great team.
他们很投入，也很专注。
They were committed and focused.
我当时就想，不知道呢。
And I was like, don't know.
你可以就买一些这种币，然后等着，因为它可能永远不会有300%的涨幅，这就是你要承担的风险。
You could you could just take a bag of this and just wait because it may never have a 300% pump, and that's the risk you're taking.
但如果它真的成功了，真的有了回报，如果这些项目真的找到了产品市场契合点，那上涨空间就非常大了。
But if it ever does work out, if it ever pays off, if if these things ever do find product market fit, the upside on that is huge.
所以这不是你必须要做的事，但你可以这么做。
So it's not something you should necessarily do, but it is something you could do.
你可以专门找那些被低估的、高质量的另类币，在数字资产领域里，建一个仓位，然后等着就行。
You could just look for really undervalued, high quality Altcoins in the digital asset space, build a bag, and just wait.
而且，它可能永远不会成功，你必须承担这个风险。
And, like, it may never work out, and you have to take that risk.
但我觉得有很多类似的情况，那里……
But there are a lot of things like this, I think, where there...
技术很强，但市场完全错误定价了它。
The technology is strong and the market just is completely mispricing it.
如果你愿意用你的资金等待，那是有机会成本的。
And if you are willing to wait with your capital, it's an opportunity cost to do that.
但如果你愿意用你的资金等待重新定价发生，那可能会得到回报。
But if you're willing to wait with your capital for that repricing to happen, it can pay off.
所以我不认为这是每个人都必须做的事，但你可以这么做。
So I I don't think it's something anybody should necessarily do, but you could do that.
顺便说一句，我并没有保留我积累的所有Q和T。
And I don't still have all the the Q and T I was accumulating, by the way.
我大概有50个左右，后来在去年牛市的时候卖掉了一些。
I I got, like, I think, like, 50 or so of them or something like that at one point, and, like, kinda sold them off a little bit during the last, like, the the the last bull market kinda last year.
我大部分都处理掉了。
I I got rid of most of them.
我还留了几个，但不多。
I still have a couple, but not very much.
但重点是，对，这是一种可以玩的策略。
But, like, the the point is that, like, yeah, it's a strategy to play.
如果你愿意去找那些被低估的山寨币宝石，把资金放进去等着，这不一定是最好的市场策略，但如果你对某个特定的山寨币有信心，想这么做，那也可以。
If you're willing to look for these Altcoin gems that are underappreciated and park your capital and wait, not necessarily the best market strategy, but it's something you can do if if that's something you wanna do if you have that conviction in that particular Altcoin.
而且如果你愿意承担机会成本的话。
And if you're willing to part with the opportunity cost.
因为我觉得这也是另一件事，我们马上要进入盘后时间，聊聊更热门的山寨币，但我觉得另一件事是，像持有QNT，确实涨了，但你本来可能还要再等六个月才能等到...
Because I think that that's the other thing too, and and we're gonna jump right into after hours in a second talk about the hotter Altcoins, but I think that's the other thing is that something like holding QNT, yes, it popped, but you could have been waiting another six months to...
等到那个时刻。
For that to happen.
与此同时，还有一大堆其他的东西，甚至包括主流币，可能都会...
Meanwhile, there's a big basket of other stuff, even the majors, that'll probably per...
在那段时间里，可能比这个冷门选择表现更好。
Could outperform this sleeper pick in the in that time.
所以这真的取决于每个人的个人策略。
So it is really up to people's individual, strategies there.
约翰，非常感谢你的分享，兄弟。
John, thank you so much for your thoughts, man.
我们马上进入盘后环节。
We're gonna jump right into after hours.
所以，如果你是Milk Road PRO会员，请务必在我们的网站上查看。
So for anybody who's a Milk Road PRO member, make sure you check that out on our site.
这集节目上线后不久，它就会直播。
It'll be live, just shortly after this episode goes live.
如果你还不是Milk Road PRO会员，想听听约翰几分钟后要透露的关于他山寨币持仓的劲爆消息和内幕，那就赶紧注册Milk Road PRO吧。
If you're not a Milk Road PRO member yet and you wanna hear all the spicy gossip and intel that John's about to drop in a few minutes on his Altcoin positions, make sure you sign up for Milk Road PRO.
真的只要一美元。
It's it's literally just a dollar.
你可以花一美元看这期节目，看完想取消就取消。
You could pay a dollar just to watch the episode, and then you can cancel if you want.
取消起来非常方便。
It's very easy to cancel.
所以，谢谢你，约翰，我们一会儿再聊。
So thank you, John, and I'll talk to you in a minute.
感谢收听Milk Road。
Thanks for listening to Milk Road.
如果你喜欢这期节目，记得点赞和订阅。
If you enjoyed the show, make sure you like and subscribe.
如果你在市场上找不到赢家，那正是Milk Road PRO的用武之地。
And if you're struggling to find winners in the market, that's exactly what Milk Road PRO is built for.
我们的分析师很早就发现了不少大赢家，PRO让你看到他们接下来买什么，每一笔交易，以及每个仓位背后的研究。
Our analysts have called some of the biggest winners early, and PRO lets you see what they're buying next, every trade they make, and the research behind every position.
点击下方链接，查看Milk Road PRO。
Check out Milk Road PRO at the link below.
你在Milk Road上听到的所有内容仅供参考。
Everything you hear on Milk Road is for informational purposes only.
这些都是我们的个人观点，不是财务建议，而且我们可能持有我们谈论的一些投资。
These are our personal opinions, not financial advice, and we may own some of the investments we talk about.
一定要自己做研究，做出最适合你的决定。
Always do your own research and make the decisions that are right for
你。
you.
下次见。
See you next time.
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