Etherium News

Bitcoin Trades Slightly Higher; Crypto Trading in Hong Kong Spikes Amid Protests

© Reuters.
© Reuters. – and other major cryptocurrencies traded slightly higher on Thursday in Asia. Data showed trading in digital coins spiked in Hong Kong, suggesting that traders might be seeking potential alternatives amid ongoing political unrest that rocked traditional financial markets.

last traded at $8,323.9 by 1:26 AM ET (05:26 GMT). gained 2.1%, while and rose 1.%% and 0.6% respectively.

More than HK$12,294,796 (about $1,567,525) worth of was exchanged in Hong Kong, data from CoinDance showed, surpassing the record of $11,666,176 HKD set in late January 2018.

The spike came as stock markets in Hong Kong suffered since the outbreak of the political crisis in June. Millions of pro-democracy citizens marched on the streets in the city to voice against government policies on multiple occasions.

The protests, which began as mostly peaceful events, turned violent with airport services being disrupted, tear gas being fired by police officers, and thousands of protesters being arrested. In the latest episode of unrest, a protester was shot in the chest with a live bullet fired from close range by a police officer, the first time a protester has been shot since the protests begun in June.

“I can’t help but feel that this could very well be a sign that some Hong Kong protesters are seeing bitcoin as a way to opt-out of the local economy, which is run by governments and financial institutions,” eToro analyst Mati Greenspan said in a blog post.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

View original post

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button