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2019-10-12 20:36:08

It is unlikely that the Bitcoin spike was caused by Hong Kong unrest

Trading volume in Hong Kong crypto exchange LocalBitcoins tripled during protests, yet analysts disagree on the cause. Hong Kong political unrest not the cause for Bitcoin’s spike? Hong Kong Citizens have been protesting against Beijing’s control over the region since June this year. The protests continued during the seventieth anniversary of the Chinese state. The political unrest also coincides with a spike in trade volume on the Hong Kong branch of LocalBitcoins. The exchange reported 1.42 million dollars of trade volume across seven days. The real reason for the spike remains unknown, yet it seems that protestors are now shifting