In Hong Kong and Argentina, politics pushes the price of Bitcoin

In Hong Kong and Argentina, politics pushes the listing of Bitcoin - bit coin

There has been a lot of talk in recent times about the increasingly evident Bitcoin transformation into a true to its own safe haven. In particular, the queen of cryptocurrencies is now considered an excellent alternative for investors when they open outbreaks of crisis such as to reflect on the markets by increasing their instability. This behavior has also been observed over the past few days in Hong Kong and Argentina.

What is happening in Hong Kong?

Hong Kong has reached its tenth week of crisis. The events were triggered by the proponents of a western democracy that the Beijing government sees as smoke in the eyes, with their counterparts closed in their respective vision, without apparent points of contact who can deflate the issue and smooth out its scope. So much to push some observers to foresee a possible intervention by the Chinese government with harsh repression in the former British colony, which however could frustrate Beijing's efforts to present a conciliatory face to the outside.
A crisis that could also be mixed up with war of duties triggered by Donald Trump and that therefore, at least at the moment, China is trying to contain without resorting to strong ways. However, the level of endurance of the communist government remains to be verified in the event that the demonstrators raise the level of the clash.

The defeat of Macri in Argentina

In Argentina instead the serious defeat reported by Mauricio Macrì during the primary elections, juicy appetizer of the next presidential elections. To which the president-in-office could present himself as a handicapped horse, in light of the results obtained in this electoral round. The opposition, led by the former president Cristina Fernandez de Kirchner and the Peronist veteran Alberto Fernández, in fact obtained the 47% of the votes cast, giving 15 well points of difference to the pro-presidential coalition.
A real humiliation that had not been foreseen, at least for the proportions, by the pollsters and that seems to pose one tombstone on Macrì's re-election ambitions in view of the presidential elections scheduled for the next 27 October.

Bitcoin in great sweep

In addition to a political point of view, the Hong Kong events have been valued with great interest by financial analysts, just for what happened to the Bitcoin listing in both countries. In the former British colony, BTC has in fact seen its price rise to more than 300 dollars of difference compared to that in force in the rest of the globe, according to the findings of LocalBitcoins, the well-known platform for the peer-to-peer exchange of digital currencies.
A figure which, however, pales in the face of what has always been verified by LocalBitcoins in Argentina, where the gap would even be 1000 dollars. A gap which seems to be due to real wave of panic that hit the bairense stock exchange, which fell by 31%, with the dollar appreciating by 34% in weight. A picture that according to analysts could push many Argentines to opt for Bitcoin in the coming weeks, favoring further growth.