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On December 29th, Longbai Group announced that its wholly-owned subsidiary, Henan Baililian New Materials Co., Ltd., plans to introduce strategic investors and implement a capital increase. The strategic investors will invest a total of RMB 2 billion in Baililian New Materials, subscribing to RMB 778 million of newly registered capital. They are expected to acquire a 31.40% equity stake in Baililian New Materials after the capital increase. The funds raised will primarily be used to repay bank loans. After the capital increase, Baililian New Materials registered capital will increase from RMB 1.7 billion to RMB 2.478 billion. Longbai Group will still directly hold 68.60% of Baililian New Materials equity, and Baililian New Materials will continue to be included in the companys consolidated financial statements.A German government spokesperson stated (regarding the conflict in Ukraine) that there can be no peace without Russias involvement.On December 29th, Sunchine Medical Technology Co., Ltd. announced that its board of directors held a meeting on December 29th, 2025, and approved a proposal to change the company name and stock abbreviation. After the change, the company name will be Sunchine Intelligent Connectivity Technology Co., Ltd., and the stock abbreviation will be Sunchine Intelligent Connectivity. The English name and stock code will remain unchanged. This change aims to more comprehensively reflect the companys core business and strategic development direction, and convey the core positioning after the companys strategic transformation. The revised articles of association will be updated simultaneously, and the specific revisions have been submitted to the companys first extraordinary general meeting of shareholders in 2026 for review.Sources say Hyundai is currently unable to exercise its right to repurchase its former Russian car factory.December 29 – The Shanghai Municipal Peoples Government and the State Power Investment Corporation (SPIC) signed a strategic cooperation agreement in Shanghai today (December 29). According to the agreement, both parties will fully leverage Shanghais comprehensive advantages and SPICs professional strengths, focusing on strengthening cooperation in areas such as nuclear energy, gas turbines, power supply security, clean energy transformation of thermal power plants, green energy development, and international expansion. This will achieve complementary advantages and mutual benefit between the central and local governments, helping SPIC accelerate its development into a world-class clean energy enterprise with global competitiveness, and assisting Shanghai in accelerating the construction of a modern industrial system and its transformation into a socialist modern international metropolis with global influence.

Bitcoin Completes Consolidation in a Triangle

Jimmy Khan

Oct 19, 2022 15:56

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At the time of writing, the price of bitcoin is $19,550, up 1.4% over the previous day. The day before, U.S. stock indexes had taken a significant jump forward, and by the opening of European trade, index futures were consolidating their gains. The demand for crypto assets is supported by a strong stock market background, although overall changes are exceptionally muted.


Since June, the price of bitcoin has moved at the right angle to a triangle formed by a descending resistance line, a horizontal support of $18,800, and a rising support line. Usually, a rise in volatility on the way outside the range solves this problem.


Not sooner than the break of the prior highs at $20.4K or the failure beneath $18K, with the second variation having a higher likelihood, should be watched for confirmation of the break of the long-term consolidation. However, it should be noted that the BTCUSD downturn has lasted about a year, wiping off more than 70% of the high price and making long-term purchasers more interested.


After a modest outflow the week before, CoinShares reports that investments in cryptocurrency funds somewhat increased last week. Total money coming in was $12 million. Investments in Bitcoin rose by $9 million, while those in Ethereum fell by $4 million. $7 million more was invested in funds that support bitcoin shorting. Investor apathy persists; according to CoinShares, flows over the previous five weeks have barely topped 0.05% of assets managed.

News context

The connection between Bitcoin and conventional risk assets may be severed. According to LookIntoBitcoin, this may occur as a result of investors realizing that governments and fiat currencies provide the majority of hazards. According to prior cycles of investor capitulation, the time is right now for tactical BTC purchases.


Rich investors still prefer to invest in digital assets, according to GlobalData's global poll of asset managers. Additionally, they are ready to assume the greatest amount of risk since cryptocurrencies only make up 1.4% of their portfolios.


The local authorities have granted French investment bank Société Générale's subsidiary authorization to store, purchase, trade, and exchange bitcoins.


A new Coincub research claims that in the third quarter of 2022, Germany overtook Switzerland, Australia, the United Arab Emirates, and Singapore to claim the title of nation most conducive to operating a cryptocurrency company. Due to its unfavorable tax laws and hazy crypto regulation, the US dropped from first to seventh rank.

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