Former hedge fund manager and Bitcoin (CRYPTO: BTC) investor Michael Novogratz said that the cryptocurrency market is in “good shape” as long as Bitcoin and Ethereum (CRYPTO: ETH) hold above important levels.
The stock markets in mainland China opened lower on Wednesday following the long weekend holiday for the Mid-Autumn Festival.
What’s Moving: The benchmark Shanghai Composite Index fell more than 1% in early trade but has pared losses and is down 0.4% at the time of writing. The Index closed almost 0.2% higher on Friday.
Some of the biggest technology companies continue to see their shares plunge in Hong Kong amid the Evergrande crisis on Tuesday.
What Happened: Alibaba Group Holding Ltd. (NYSE: BABA) shares are trading 2.1% lower at HKD 148.30 at press time in Hong Kong.