Hong Kong Protests Continue Fueling Money Flight, Will it Affect Bitcoin?

Anti-government demonstrations entered their eleventh week with a defiant march in Hong Kong’s Central district on Sunday. The threat of violence and civil unrest has led to increasing uncertainty over the city’s future. And anxious residents are responding by moving money out of Hong Kong, a move that could increase the inflow into bitcoin.

Hong Kong Protestors Show No Sign Of Backing Down

Hong Kongers braved torrential rain on Sunday to protest against the erosion of democracy in the Special Administrative Region.

The police had earlier denied plans for a demonstration around Central, the heart of the business district and close to the central government buildings. Instead, granting permission for protests to stay in Victoria Park, some two kilometers away.

But, in a show of defiance, and at the risk of imprisonment, protestors soon spilled out into nearby streets and headed west towards Central regardless.

Organizers claim 1.7 million people took part, but the Hong Kong Police say the actual figure was closer to just 128,000.

Stock & Property Markets Jittery Amidst Tensions

Widely known as the jewel of Asia, the recent social disorder in Hong Kong has relegated it to a city in turmoil. And money continues to pour out as investors, and everyday people, become increasingly uncertain about its future.

Numerous videos are circulating on social media that expose the strength of feeling amongst Hong Kongers. And it doesn’t look like anti-government sentiment will go away anytime soon. Indeed, one protestor said:

“It’s a torture just to turn up, frankly. But we have to be here because we have no other choice. We have to continue until the government finally shows us the respect that we deserve.”

The post Hong Kong Protests Continue Fueling Money Flight, Will it Affect Bitcoin? appeared first on NewsBTC.

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