RATE Group | Bitcoin trading spikes in Hong Kong as political crisis worsens
63995
post-template-default,single,single-post,postid-63995,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin trading spikes in Hong Kong as political crisis worsens

03 Oct Bitcoin trading spikes in Hong Kong as political crisis worsens

Posted at 01:49h in Bitcoin News by

[ad_1]

Hong Kong is in the midst of a political crisis. And it’s not only changing the way citizens of Hong Kong view the Chinese government, but also the way locals view their economy.

At the same time, local interest in Bitcoin has reached unprecedented levels, which may be a sign that residents are turning to Bitcoin as a potential alternative to their traditional financial system and banks.

According to data from CoinDance, Bitcoin trading in Hong Kong reached an all-time high this week when measured in Hong Kong dollars. During the last week, more than $12,294,796 HKD (about $1,567,525 USD) worth of Bitcoin was exchanged in Hong Kong, surpassing the record of $11,666,176 HKD set in late January 2018.

If we express these figures in BTC, the numbers are similarly (yet not equally) impressive. A total of 173 bitcoins were exchanged throughout the week, which is a high not seen since April 2017, when traders moved 196 BTC in one week. That figure, however, pales in comparison to the…

[ad_2]

Source link

Tags:
, , , , , , ,