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Today, with the reopening of the Asian stock markets after the weekend, the good performance in China also allowed the price of Bitcoin to rise. It should not be forgotten that in the Asian country, strong economic stimuli are on the way, and this inevitably ends up spreading optimism even in the financial markets.  The rise of Bitcoin’s price thanks to China Over the weekend, the price of Bitcoin had returned below $63,000, after the brief drop below $59,000 on Thursday the 10th. On the other hand, volatility was expected by analysts between October 9 and 14, and so it was.  These movements, however, are always part of the long lateralization trend that started even at the end of March, and for months has seen the price of Bitcoin oscillate between $57,000 and $72,000 with rare exceptions. Lately, this range has become a bit more compressed, given that since September 13, the fluctuations have been between $57,000 and $66,000.  In fact, at this moment the key point seems to be precisely the 66,000$, which have not been surpassed even today.  At the reopening of the Asian markets, the price of Bitcoin was still below $63,000, but after a few hours, especially the Shanghai stock exchange started to rise, so much so that it is now at +1.6%, dragging BTC along with it.  During the session, the price of BTC rose to almost $64,500, then repositioned around $64,000.  The performance of China Today, in reality, the Hong Kong stock exchange is slightly down, but it should not be forgotten that the stock exchange where the companies’ shares that primarily operate in their domestic market are listed is that of Shanghai.  Starting from September 17, the Hong Kong stock exchange and the Shanghai stock exchange have strung together a truly epochal series…

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Filed under: News - @ October 14, 2024 9:22 am