Bitcoin spikes to October highs as China stocks plunge on reopen

HONG KONG: Cryptocurrencies briefly jumped amid chaotic trading in Asia after China’s stock markets reopened to steep losses following an extended holiday shutdown.

The wider Bloomberg Galaxy Crypto Index tracking a basket of digital assets reached the highest level since September before paring some of its climb, maintaining a 3.9% gain as of 10.20am in Hong Kong. The CSI 300 Index dropped as much as 9.1% as onshore financial markets reopened for the first time since Jan 23.

it's called hedging

A pseudo currency to fall back..when the are setbacks on mainstream ..Investment of convenience.. guanenglim chedetofficial IDEASMalaysia SecurityComm BNM_official BursaMalaysiaKL

As I prophesied Buy-Low-Sell-High!

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