Bitcoin Price Hits $100+ Premium in Hong Kong After Violent Protests: Analyst
By CCN Markets: Bitcoin has already come of age as a safe haven currency, a market analyst has pronounced. According to eToro’s senior market analyst Mati Greenspan, the cryptocurrency is trading at a premium of over $100 in Hong Kong on the TideBit exchange.
Heavy Bitcoin Demand Results in Hong Kongers Paying Premium Price
In Greenspan’s view, this a demonstration of the cryptocurrency’s ability to serve as a refuge currency in uncertain times.
Bitcoin is trading at a premium of about $160 in Hong Kong.
Pictured is the HK exchange TideBit where a single BTC is going for 73,120 HKD ($9337). A total of $159 above Coindesk's current rate.
This is where the safe haven play comes in. pic.twitter.com/HNZWQkJ61j
— Mati Greenspan (@MatiGreenspan) June 17, 2019
The Hong Kong premium is a signal of heavy demand for Bitcoin in the city-state following violent protests last week. The protests were held over a controversial extradition bill leading to Hong Kongers clashing with the police mid last week.
