Bitcoin Rises Over $9,000
Bitcoin has managed to take $9,000 and has managed to stay over $9,000 for the past eight hours at the time of writing.
That has increased its market cap to above $160 billion on considerable unfiltered trading volumes of $22 billion.
Bitcoin first overtook $9,000 at around 3AM London time. Meaning Europe probably had little to do with it.
In Shanghai, however, that was 11 AM, 8PM in Los Angeles and about 11PM in New York.
Meaning China may have had something to do with it, and by China we mean the wider region of Asia which has the same time zone, including Malaysia, Indonesia and Australia.
As well as, of course, Hong Kong. Hundreds of thousands have gathered on the streets again today despite the extradition bill being suspended. Now they want the country’s leader, Hong Kong’s Chief Executive Carrie Lam, to step down.
Apparently the wealthy in Hong Kong are getting a bit concerned especially if they may have been critical of China, so some of them are taking their money out of the country.
Obviously just what is amplified/overblown and what’s actual reality might not be easy to discern in these sort of situations, but it may have been one factor among many others to propel bitcoin over $9,000.
The question now is whether it will remain there and eye $10,000, something only time will tell.
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