Closed as soon as the market opened, nearly a thousand stocks hit the daily limit
The three major A-share indices all surged at the opening on October 8. Among them, the Shanghai Composite Index rose 10.13% to 3674.4 points, the Shenzhen Component Index rose 12.67% to 11864.11 points, and the ChiNext Index rose 18.44% to 2576.22 points. Nearly 1,000 stocks reached their daily limit in bidding, and more than 100 broad-based ETFs reached their daily limit.
On September 24, the Shanghai Composite Index was at 2,770.43 points. Since then, the index has risen to 3,336.49 points, an increase of 20.43%. Previously, the market was basically stagnant until September 13. However, starting from September 18, strong buying drove the market's positive trend, which has continued to this day.
Investors flock to Chinese stocks
Recent reports suggest that investors are moving money from stablecoins like USDT into Chinese stocks, eager to cash in on the market rebound. This shift has reduced investment flows into the cryptocurrency market, especially Bitcoin.
On September 24, Bitcoin (BTC) was trading at approximately $64,253. Although it briefly rose to $65,903 on September 28, it subsequently fell sharply, reaching as low as $60,658 on October 2. The market has struggled to recover, with BTC currently trading at $63,432.63, significantly lower than when China’s stimulus was announced.
Bitcoin’s decline may be short-term
Some analysts believe that the focus on the Chinese stock market has limited Bitcoin's growth. While the surge in the Chinese stock market may temporarily pull investment away from Bitcoin, many analysts do not believe the shift will last. As the Chinese market stabilizes, funds are expected to flow back into the cryptocurrency market, reigniting the bullish trend for Bitcoin and other digital assets.
The cryptocurrency world is getting more and more difficult, and everyone is playing with a capital pool of hundreds of thousands. It is suitable for beginners to grow their capital. I have played enough with ETH and SOL. In the future, SUI and APT public chains may also become popular! The exchange has no liquidity. Can the Bitcoin I want still reach 80,000?
Which coins are worth investing in?
The following are the coins that I think are worth investing in. If you also have specific coin recommendations, you can bring them later. If you don’t know where to get on or off the bus, you can contact me and we can do it together.
BABY
Sentiment in the PEPE ecosystem looks very positive, with major PEPE holders still holding their ground in the market to drive heavy buying. After a series of price declines, PEPE quickly recovered as buyers stepped up spot trading over the past week, sparking a 70% rally. As buyers continue to aggressively buy, PEPE is expected to rise in the long term, with holders seeing a 25x return on investment.
RENDER
The RENDER ecosystem has witnessed an increase in daily trading volume, reaching a staggering 105% in the past 24 hours. Spot buyers of the RENDER altcoin have been dumping other altcoins to accumulate buys in the price area around $4.5 to bring the price to the expected $6 within the next 7 days.
Apts
APT's recent price rally has also not slowed down. After a small price increase over the past week, Aptos (APT) has risen to $8 as buyers increased spot trading this week. More importantly, Aptos (APT) has seen an 80% surge in daily trading volume over the past 24 hours, with cumulative buying volume around $7.5. As a result, investors have begun buying Aptos (APT) in large quantities to maximize the upcoming 25x price movement in the next 30 days.
