Chinese citizens have expressed their discontent with massive protests in several major Chinese cities due to the never-ending strict Covid-19 restrictions.
The streak, the growth of China or better known as the world's second largest economy has been hindered when the cryptocurrency market, stocks including commodities faced a sudden fall due to the protesters.
Through research over the years, crypto price movements have always followed the United States (US) stock market, where the situation this time is also likely to show a similar situation.
On record, the price of the mother of all cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) witnessed a decline in Asia while the financial market in Hong Kong was also affected.
As proof, BTC plunged on November 28 while now its price is hovering in the zone of $16,446 in the last 24 hours while ETH is at $1,205.
If BTC and stocks continue to move horizontally, then the digital asset is likely to be affected by various geopolitical issues in the future.
Meanwhile, stock markets showed weak momentum with S&P 500 futures down 0.8% amid clashes between police and protesters in China.
In fact, oil commodities also received a similar boost when the price of a barrel of Brent oil slipped by 3.1% to reach $81.05.
In the meantime, China as a whole recorded a total of 40,052 local cases while Wuhan, Chengdu, Shanghai and some parts of the capital Beijing have been affected due to the restrictions.
