China Stock Market Resumes Crash
China's Shanghai Composite Index crashed through support on Monday and resumed decline as investors could not sell Chinese company stocks fast enough. Deja Vu. CNBC eloquently reports that, following three weeks of relative stability in mainland markets, Monday saw the Shanghai Composite Index resume decline in its worst one-day drop in eight years. Readers will know that "eight years" marks the first round of sell-offs heading into the 2008 "Credit Crunch". Significantly, the index sliced through the psychological 4000 support level without pause as paniced investors rushed for the exit.....
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The financial situation in China is anything but stable right now, as the continuing devaluation of the Chinese Yuan is causing a lot of worry and confusion. To make matters even worse, the country’s entire market crashed yesterday, leading to an emergency stop all trading activities. When all was said and done, the stock market lost 7% of their value in less than a day, and more chaos would have ensued if trading hadn’t been halted at that time. Time for plan Bitcoin in China by the look of things.
This past week was an exciting one, with the rising bitcoin price, community drama, and shaky financial markets giving us a lot of things to watch. China started the week with a massive stock market crash, putting the global economy on high alert. Meanwhile, in the Bitcoin community, we discovered that the Cryptsy team moved out of their building in Delray Beach, Florida without warning — no one knows where they are. The week started off on Monday, January 4, 2015, with the Bitcoin price following the $430s pattern established in the previous week. Nothing dramatic happened on the markets,....
Internet industry magnate and financial markets prognosticator Kim DotCom says now is the time to buy bitcoin in light of the Chinese stock market meltdown and a worsening outlook for the global economy as a whole. The Chinese financial markets have had a long, hard summer. Since June 12, domestic market bubbles have burst, forcing massive action to counter it by the People’s Bank of China, which is majority-owned by the Chinese Government. Last month, when the primary Shanghai Index fell over 8%, the People's Bank of China devalued the renminbi by almost 2%. This level of market....
Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted a “giant stock market crash” coming in October. He believes that “bitcoin may crash too.” The famous author also offered his opinion on China’s crackdown on cryptocurrencies.
Robert Kiyosaki Warns of ‘Giant’ Market Crash in October
Famous author and investor Robert Kiyosaki has predicted that a “giant stock market crash” is coming in October, noting that gold, silver, and bitcoin may crash as well.
Rich Dad Poor....
Chinese shares experienced their worst ever start to a year after Chinese stock markets plunged 7% in their opening session of 2016 on Monday. It began with an initial halt of CSI-300 Futures (Chinese Securities Index) for 15-minutes at a 5 percent level, a move that failed to stop the retreat. When the market re-opened following the temporary suspension, shares began extending their losses. As the stock market tumbled to 7%, China’s new “circuit breaker” measures were triggered, a mechanism enforced by the securities regulator to automatically prevent further volatility and losses in the....