Bitcoin is currently trading $75-150 higher than the worldwide average, marking its highest trading price. This is owing to the fact that the city’s rich and affluent are reacting to the frenzy generated by the massive protests and shifting their digital assets offshore.
Hong Kong is currently witnessing one of the largest rallies in its history for protesting against a disputable extradition law. As the city erupts with protests, the prices of Bitcoin core surge and the trading gain huge momentum.
If the highly debated extradition law gets passed, the Chinese authorities would get control over Hong Kong’s jurisdiction and demand anyone who commits a crime in the city to be held for a trial in the Chinese courts.
Until now, close to two million people have participated in this massive opposition march from Victoria Park to the administrative centre since June 16, Sunday. Fearing an increased influence of China over Hong Kong, the protests are calling out for Hong Kong leader, Carrie Lam’s resignation. Read More at Cryptopolitan...