Bitcoin is steady and steady, but China's A-shares are not. A-shares performed strongly at the beginning of October, but after the National Day holiday, A-shares took a sharp turn for the worse. Investors who were still shouting yesterday that they were witnessing history were slapped in the face today. On October 9, the three major stock indexes all opened sharply lower: the Shanghai Composite Index fell 1.79%, the Shenzhen Component Index fell 2.92%, and the ChiNext Index plummeted 4.84%.
Hong Kong's Hang Seng Index opened up 1.74% and then fell back. Although the mainland stock market had some ups and downs at the opening, the trading volume was very impressive. In just 20 minutes, the total trading volume of the Shanghai and Shenzhen stock markets exceeded 1 trillion yuan, setting a historical high.
Investors went into a frenzy, with nearly 5,000 stocks plummeting. Major media outlets reported on the "A-share roller coaster" phenomenon, and investors who hoped to make a quick profit found themselves losing money by mid-morning.
Only in this way can the market funds be transferred to circle B!
Today, A-shares and Hong Kong stocks formed a sharp contrast. Hong Kong stocks continued to rise because they were not closed for the National Day, while A-shares saw an explosion after holding back over the National Day. It was really a sudden breakthrough.
After the opening, nearly 5,000 stocks hit the daily limit, only 5 fell, and even the stock index futures hit the daily limit. At the same time, there was a saying that open an account at 3,000 points, prepare funds at 3,300 points, and enter the market at 3,600 points.
Moreover, if we want the bull market to last longer, we should proceed steadily and gradually upward in a healthy trend. Such a surge is obviously not easy to maintain, and we remind you to remember to take profits.
FTX bankruptcy plan approved by judge, compensation officially put on the agenda
With the passage of the bill, $16 billion of direct cryptocurrency liquidity will be released in the future, and it is direct purchasing power. It is not cryptocurrency, but stablecoin, which will directly boost the price of cryptocurrency.
The first batch of small claims below US$50,000 will start at the end of the year, while large claims will have to wait until the first quarter of next year. Therefore, we boldly predict that the market will continue to be bullish until the first quarter of next year, because QT will end at that time, which is more useful than cutting interest rates.
Will the new Bitcoin documentary reveal who is Satoshi Nakamoto? The election is getting closer
There are still 28 days until the election, and Trump has the biggest lead since Harris announced her candidacy for president. If Trump is elected, it will be a big boon for both U.S. stocks and Bitcoin.
On the other hand, politicians such as Trump have hinted that if re-elected, they will adopt more favorable crypto policies, such as possibly designating Bitcoin as a strategic reserve asset. Current Vice President Harris is also open to crypto-friendly policies, trying to attract support from the crypto community.
Meanwhile, other countries such as Germany are selling confiscated cryptocurrencies to help fill state budgets, which could further pressure Bitcoin prices.
In conclusion:
As October approaches, investors should keep a close eye on Bitcoin’s ability to break through the $65,000 resistance level. If Bitcoin is able to break through this resistance level, we could see a strong rally to $80,000. However, if negative market forces continue to weigh on Bitcoin, such as a massive sell-off or increased regulation, Bitcoin may struggle to stay above $60,000.
