Market Performance At A Glance After Hawkish Powell Speech鲍威尔的鹰派演讲后市场表现一览

Stock market's 2nd leg of Continuation Down Pattern starts! Fed Powell said pain of tight policy, slow growth needed for sometime to beat inflation. Index and stock charts looks terrible. Short term interest rate, US dollar and Fear Gauge VIX surged while gold and cryptos plunged. All 11 S&P 500 sectors are down.  

美股延续下行模式的第 2 波跌势开始！ 美联储鲍威尔表示，需要一段时间的紧缩政策痛苦、缓慢的增长才能战胜通胀。指数和股票图表看起来很糟糕。 短期利率、美元和恐慌指标 VIX 飙升，而黄金和加密货币则暴跌。 标准普尔 500 指数的 11 个板块全部下跌。

Stock Market's 2nd Leg Down Starts 美股第二波跌势开始

Stock market's 2nd leg of Continuation Down Pattern starts! Fed Powell said pain of tight policy, slow growth needed for sometime to beat inflation. 

美股延续下行模式的第 2 波跌势开始！ 美联储鲍威尔表示，需要一段时间的紧缩政策痛苦、缓慢的增长才能战胜通胀。

Reasons For US Stock Market Ready To Come Down 美股下跌在即的理由

The followings are reasons for the market likely to come down in the near term:  Nasdaq, S&P 500 and Dow are likely to be capped at the 200-day moving average resistance after rising nearly 24%, 18% and 14%, respectively, from their June lows. The volatility index VIX near April lows shows that investor sentiment is overly optimistic. CPI at 8.5%, much higher than Fed target of 2%, this will likely cause the Fed to continue accelerate its interest rate hike. Major tech stock valuations are too high, followings are their PEG levels (1 is fair value, below 1 is under value, over 1 is over value):AMZN 3.92, AAPL 2.91, NVDA 2.16, TSLA 2.13, MSFT 1.97, META 1.97, QCOM 1.74 and GOOG1.48.  AAPL's rise of more than 36% since June is somewhat outrageous and most worrying.

以下是市场近期会下跌的原因：纳斯达克指数、标准普尔 500 指数和道琼斯指数在从六月低位分别上涨了近 24%、18% 和 14% 后，很可能会在 200 日均线阻力位被阻回落。 接近 4 月低点的波动率指数 VIX 表明投资者情绪也过于乐观。 CPI 为 8.5%，远高于美联储 2%的目标，这将导致美联储继续加速加息。 主要科技股估值过高，以下是他们的PEG水平（1为公允价值，低于1为低估，超过1为高估）：AMZN 3.92，AAPL 2.91，NVDA 2.16，TSLA 2.13，MSFT 1.97，META 1.97， 高通 1.74 和 GOOG1.48。AAPL从六月低位已经上升了超过36%有些离谱，是最令人担心的股票。

The Development Of Pi Price Pi价格的发展

"Pi is worth what pioneers make it worth" ---Dr. Nicolas Kokkalis, Pi Founder. What people think Pi should worth is important. Initially there are going to be big difference in price depending on the understanding of pi's usefulness. 

P2P bartering are happening everyday between those pioneers who have passed KYC and Pi migrated to their wallets. Initial point to point (P2P) bartering has Pi valued between $1 to $3.5 million. These playful extreme prices are not going to be the right price for Pi. Recent P2P bartering occurs with Pi price at 1Pi=$70, $100, $314...and these are more reasonable values. People are slowly recognizing Pi is valuable and they don't want to dispose Pi at low prices. When actual P2C bartering takes place, more accurate Pi value will be available. 

Woody Lightyear and Doris Yin are activists pushing for 1 Pi=$314159. They have organized world conferences many times and reached a consensus price of 1Pi=$314159. Because of their effort, unbelievers and critics are gradually changing their minds.  There are now nearly 600 Chinese merchants supporting this price, and this is the dominant consensus price for Pi at the moment.  Another Pi barter mall and its merchants have set 1Pi=$6700 for bartering. Since the Pi Software Development Kit is available for App developers to connect their Apps to Pi Network, P2C bartering will soon starts. By that time, people can use Pi to buy houses, cars and all kinds of goods, book flights, hotels and all kind of services. As more and more bartering take place,  a consolidated consensus price for Pi will emerge. 

Knowledgeable YouTuber such as Director of the Stanford Pi Research Institute(史坦福Pi研究所所长) and professor Yang (杨教授）both are supporting high valuation for Pi because Pi's unlimited potential in the future and support 1Pi=$314159 and 1Pi=$10000 respectively. 

People who support high prices believe that Pi may become a super-sovereign currency which people of the world, businesses and countries are all going to use it for bartering, transactions and trades. These kind of demands will cause the shortage of Pi and hence commanding a high price. Since Pi's blockchain has the infrastructures for the development of the 3rd generation internet Web 3, numerous Web 3 applications will be developed around Pi block chain in the future.  Pi's future value is hence un-calculable.

Pi's Closed Mainnet operation mode is ingenious. This period is good for Pi because it allows people to explore and understand Pi more.  It allows people to build a consensus price for Pi before it goes to Open Mainnet operation mode. If Pi should become a super-sovereign currency, its price should not fluctuate wildly. Due to the scarcity of Pi in the future, the value of Pi will not be low. The value of Pi should fluctuate by a small percentage, but will gradually increase in value according to its popularity and demand. It is unacceptable for Pi to fluctuate +-10% in a day and +-80% in a few months such as some cryptocurrencies traded on exchange do. That's one reason why they can not be great. 

“Pi 的价值值由先锋创造” --- Dr. Pi 创始人 Nicolas Kokkalis说。人们认为 Pi 应该值多少钱很重要。最初，价格会有很大差异，具体取决于对 pi 有用性的理解。

那些通过 KYC 和 Pi 迁移到钱包的先锋之间每天都在发生着点对点 （P2P ）易货交易。最初的点对点易货交易使 Pi 的价值在 1 到 350 万美元之间。这些玩弄式的极端价格不会是 Pi 的正确价格。最近的 P2P 易货交易发生在 Pi 价格为 1Pi = 70 美元、100 美元、314 美元…的较理性价格。人们渐渐认识到 Pi 是有价值的，他们不想以低价出售 Pi。当实际的 产品对消费者（P2C ）易货交易发生时，Pi的价值将会更准确。

Woody Lightyear 和 Doris Yin 是推动 1 Pi=$314159 的积极分子。他们多次组织世界会议并联合达成 1Pi=$314159的共识 。由于他们的努力，非信徒和批评者正在逐渐改变他们的想法。现在有近 600 家中国商家支持这个价格，这是目前 Pi 的主导共识价格。另一个 Pi 易货商城及其商家已设置 1Pi=6700 美元进行易货交易。由于 Pi 软件开发工具包（SDK）可供应程序开发人员将他们的应用程序连接到 Pi 网络，P2C 易货交易将很快会开始。到那时，人们可以使用 Pi 购买房屋、汽车和很多各种商品，预订航班、酒店和很多各种服务。随着越来越多的P2C易货交易发生，Pi 的磨合共识价格将会出现 。

斯坦福Pi研究所所长和杨教授等知识渊博的Youtube活跃人士都在支持Pi的高估值，因为他们觉得Pi的未来潜力无限，他们分别支持1Pi=314159美元和1Pi=10000美元。

支持高价的人认为，Pi 可能会成为一种超主权货币，全世界人民、企业和国家都将用它来进行易货、合约买卖和贸易。这种需求会导致 Pi 的短缺，因此价格会很高。由于 Pi 的区块链具备发展第三代互联网 Web 3 的基础设施，未来大量的 Web 3 应用将围绕 Pi 区块链开发。因此，Pi 的未来价值是无法计算的。

Pi 的封闭式主网运行模式是别出心裁的。这个时期对 Pi 有利，因为它可以让人们更多地探索和了解 Pi。它允许人们在 Pi 进入开放式主网操作模式之前为 Pi 建立共识价格。如果 Pi 将成为一种超主权货币，它的价位是不应该有大波动的。由于Pi将来的稀缺性，Pi的价值也不会低。Pi的价值应该以很小的百分比波动，但会根据它的普及化及需求而渐渐增值。现在在交易所交易的加密货币在一天内波动 +-10%，在几个月内波动 +-80%是完全不可接受的， 这是它们不能成大器的一个理由。

Former Bank Of China President‘s Speech Is Very Favorable for Pi 中国银行前行长的讲话对Pi非常有利

Former Bank of China President Li li hui: "Global digital currencies could lead to financial market disruption. When a sovereign economy is in trouble, people lose confidence on the sovereign currency and a good super-sovereign currency may replace the sovereign currency. ...In the future, the world may have several super-sovereign digital currency systems that are evenly matched. These currencies are mainly global commercial credit and digital systems recognized and trusted by the public. ...At that time, the dominant positions of sovereign currencies and super-sovereign currencies may be inter-changing with each other."

Guess what, Pi is now the only crypto currency has the characteristics mentioned above and it's ready at the gate!

中国银行前行长李礼辉：“全球性的数字货币可能会导致金融市场的颠覆。当一个主权国家经济有困难时， 该主权货币会令人失去信心，很好的超主权货币可能会代替该主权货币。以后世界可能会出现几个势均力敌的超主权货币系统。这些货币主要是受到公众认可及信任的全球性商业信用和数字安全。 ...到时各主权货币及超主权货币的主治地位可能会相互更替。”

您想到了吗，Pi 是目前唯一具有上述超主权货币特征的加密货币而且它已经准备就绪！

中国银行前行长：李礼辉：超主权货币来了

https://www.youtube.com/watch?v=P5hvt1P2ipc