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

Libra Coin News
Mon, 10/07/2019 - 14:59
Yuri Molchan
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 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!

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.