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Bitcoin Weekly Trading Volume in Hong Kong Hits ATH over Political Instability

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    Bitcoin demand sharply grows in Hong Kong as ATM stand empty of cash, hitting an ATH in weekly trading volume, meanwhile, BTC fundamentals improve, experts says

Cover image via news.u.today

A vocal Bitcoin and Tron supporter, Misha Lederman, founder of IamDecentralized.org and CCO at BeatzCoin that powers the VibraVid platform for content monetization, has tweeted a screenshot of a chart that shows another milestone for Bitcoin that BTC is gaining slowly but surely.

Due to the recent strikes in Hong Kong over the extradition law, demand for Bitcoin has surged and ATMs in the streets have run out of cash. The weekly trading volume of BTC has reached an all-time-high.

 

Despite the current decrease in the Bitcoin price, the ‘father crypto’ stays popular in the regions with political instability or economic recession and hyperinflation, such as Venezuela.

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On the other hand, the CEO of the Morgan Creek Capital, Mark Yusko, stated in a recent interview that the Bitcoin fundamentals have improved and it is time to ‘buy it’. The price drops and it is another reason to increase your Bitcoin stash, he says.

 

What are your thoughts on the exposure of Bitcoin in Hong Kong due to the current political situation? Feel free to share them in the comments below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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