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

  • Yuri Molchan
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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

Bitcoin Weekly Trading Volume in Hong Kong Hits ATH over Political Instability
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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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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