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​Bitcoin reaches the highest trading price in Hong Kong

2019-08-14 08:25 am | Resource: News Section | No Views : 33

​Bitcoin reaches the highest trading price in Hong Kong Bitcoin (BTC), started trading at a higher price in Hong Kong, as continued political uncertainty has led to an increase in demand on a large scale.
Data from P2P Bitcoin exchange LocalBitcoins showed that traders pay around $ 300 per currency, which is more than anywhere else, on Wednesday, August 14, which translates into a premium of about 2%.
HONG KONG - Hong Kong is the latest jurisdiction to see investors raise the implied US dollar price of the cryptocurrency market, with Argentina in a similar position this week.
As reported by news sites interested in the cryptocurrency market, the bonus there, which once amounted to $ 1000 on LocalBitcoins, was linked to the sudden collapse of the Argentine peso after the surprise defeat of the incumbent president in the primary election.
Both events confirm an increasing tendency to treat Bitcoin in general, as a safe haven asset in times of unpredictability. Although the BTC / USD lost about 9% this week, this step is dwarfed by the 30% peso holders' losses over the same period.
Ryan Steinberg, executive director of the Arca Hedge Encryption Fund, told Bloomberg on Tuesday, August 13:
"BTC has become a source of last resort in regions experiencing a sharp devaluation and political uncertainty."
Duffy One, co-founder of the Primitive Encryption Fund, commented on Localbitcoins data:
"The main difference is: in China, there is sufficient domestic supply of BTC (miners, stock exchanges, etc.) but Argentina lacks local liquidity," she summed up on Twitter earlier this week.
During trading on Wednesday, August 14, the price of Bitcoin (BTC), to 10591 dollars, a decline of 6.58% over the past 24 hours, in terms of market value, has reached the largest digital currency in the market, the market value of $ 189.3 billion.
The cryptocurrency market continues to perform significantly well since the beginning of April this year, with most currencies heading up significantly.

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