Hong Kong protests pushes local Bitcoin price up

Posted 15 August, 2019

\

The cost of bitcoin in Hong Kong is now about $300 higher than on most cryptocurrency exchanges. According to local reports, the current situation was related to the mass protests and rumors about the movement of Chinese troops. Amid the hype caused by the huge number of people wishing to convert fiat to cryptocurrency, the cost of the main coin in the local market began to grow.

Local publications write that mass protests, which often end in clashes with law enforcement agencies, began in June. The first jumps in bitcoin were recorded just at that time. Moreover, its capitalization also increased being replenished by new investors.

The mass protests was summoned by the amendment to the law, which is under consideration by the government. Officials proposed extraditing to mainland China, but local residents insisted on autonomy and the implementation of democratic reforms announced earlier. Now the situation in the country continues to escalate due to rumors about the movement of troops of China.

Information about this has not yet been confirmed. Last week, protests caused numerous traffic jams. On August 14, the court allowed the restriction of sit-down protests at the airport (HKIA). This allowed renewing part of the infrastructure and flights.

A similar situation was recorded in Argentina after losing the current head of state, Mauricio Macri, in the country's primary elections. There, the cost of bitcoin amounts to more than $12,000, which is almost 5% more than the average rate.

Previous story

15 August, 2019 11:24

← Ethfinex restarts business under DeversiFi brand

Ethfinex, a hybrid cryptocurrency exchange, is reportedly restarting operations after successful business rebranding and management reorganization. The company announced that the platform will be called DeversiFi (former Ethfinex) and will no longer use operational resources of Bitfinex.

Ethfinex restarts business under DeversiFi brand

Next story

14 August, 2019 15:44

Binance announces maintenance work on August 15 →

On August 15, one of the largest cryptocurrency exchanges in the world, Binance announced the start date for technical work. At this time, users will not be able to withdraw funds.

Binance announces maintenance work on August 15
Write a comment
 
Prove you’re not a bot + 8 = 15