What do you think will happen once Hong Kong legalizes bitcoin?

[The Cryptovator]

I heard that Hong Kong would issue a license for a crypto exchange, which indicates that using Bitcoin will be allowed. That would undoubtedly have a positive impact for bitcoin. We might even spot a tiny bull. Naturally, because it will trigger FOMO. As Bitcoin will be legal in Hong Kong, some new investors will begin there. Despite its drawbacks, this is a good initiative.

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[panganib999]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

Just the ordinary day in the new era really. We have seen many nations giving green signals to bitcoin now and then. I have seen multiple threads about El Salvador, Nigeria, Thailand, Europe where bitcoin is treated like just the new normal thing to accept or see in the daily routine. I dont really think it has made us think about bitcoin in any way different now?

If you think it will be big advertisement to the world and the whole world will start accepting bitcoin after that then it does not make any sense because every kid on the street knows about it anyway. The OTT platforms are having documentaries and series about it which are already doing that for us. They are showcasing and featuring bitcoins in the series all the time, just like its something common to hear.

Good for locals in that country. They will at least wont have to go through hassles of banking and we can connect more crypto enthusiasts along the way.

Well it's not about what the people think entirely. The point of allowing bitcoin to be used in that particular state/nation is to well, have people use bitcoin in that country. The positive feedback will follow when more and more people who are already aware of bitcoin is and are using it, use it with no worries. As with Hong Kong, this is not just about having people use bitcoin in the country. It's also an act of rebellion against China who we all know are trying to annex them and invade the country.

Being cynical pays, but not in this case. There's a real positive feedback loop that happens with countries allowing and accepting bitcoin usage within their borders. It's not just about clout or whatever the hell you're implying.

[Fivestar4everMVP]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

Nothing much, other than the fact that bitcoin would find new users, and possibly, more investors as well, transaction on bitcoin blockchain will sure increase as well, but personally, i am not expecting any significant increase in the price of bitcoin, this is if the price even moves up at all, but in all of this though, the most important thing is, let the news be true, if the news is true, its another win for bitcoin and a good win for the cryptocurrency believers, even though  this does not bring any significant positive change to the price of bitcoin.

[serjent05]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

That is another great step for Bitcoin adoption, Bitcoin will be more accessible to people since Hongkong is legalizing it.  This may push the price up since hype may gather around this news.  Aside from that for sure those who are willing to take advantage of the legalization will set up a company that utilizes Bitcoin and blockchain technology.

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

Nothing much, other than the fact that bitcoin would find new users, and possibly, more investors as well, transaction on bitcoin blockchain will sure increase as well, but personally, i am not expecting any significant increase in the price of bitcoin, this is if the price even moves up at all, but in all of this though, the most important thing is, let the news be true, if the news is true, its another win for bitcoin and a good win for the cryptocurrency believers, even though  this does not bring any significant positive change to the price of bitcoin.

Finding new user is a great thing for adoption.  Even one user at a time when accumulated will make the market uptrend. 

[borovichok]

I heard that Hong Kong would issue a license for a crypto exchange, which indicates that using Bitcoin will be allowed. That would undoubtedly have a positive impact for bitcoin. We might even spot a tiny bull. Naturally, because it will trigger FOMO. As Bitcoin will be legal in Hong Kong, some new investors will begin there. Despite its drawbacks, this is a good initiative.

One of the best cities with a top-notch booming economy and a fantastic location hub for international trades and investments is Hong Kong. As Bitcoin and cryptocurrency has been on the verge of been made legal in such a significant and prominent place as Hong Kong, believe the operation of means of payment to be efficient and dependable. There will be more potential for expansion in the neighborhood as new investors are proud to expand their operations there. There is a significant majority of its residents who place an emphasis on embracing cryptocurrencies and who also go above and beyond to buy bitcoins to be placed in their different portfolios for significant gains when the bull comes. Due to the large number of people who will start trading and making significant investments, FOMO will completely disappear.

[fuguebtc]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

It is difficult to predict whether the bitcoin price will react to that news, but the good news is that bitcoin is being adopted by more and more countries around the world. As long as the government has a positive view of bitcoin, people will use bitcoin more. Even if bitcoin doesn't react to that news, there is nothing to worry about because as long as users increase, it is only a matter of time before the price of bitcoin increases. Hong Kong is part of China, their legalization of bitcoin will open the door for the bitcoin ban to be lifted in China soon.

[Nrcewker]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

Is this for Hong Kong people only? As I cannot see anywhere the news regarding the same. Bitcoins are also famous for it’s decentralised nature, that is, it cannot be controlled by any government. But now as the government is legalising it, so my question is how they gonna regulate it? They will moreover now charge tax on Bitcoins, but due to it’s decentralised nature, the government cannot know until and unless reported that how many coin the users are holding. Yes it will definitely blow up the price. So let’s see what happens next.

[kizlod]

I'm not expecting anything at all. It depends on how people will use it there, it may lead to a big pump, but also might do almost nothing for the price. But it's always good when people can use it and don't have to hide it from the government.

[yazher]

There are lots of countries who announce it like this or in a metaphoric way but until they really make it real, we cannot conclude anything about what's about to happen because people are already fed on this kind of manipulation because others are taking advantage with this announcement and they will goona just manipulate the market and there are not actions from them after months or even years. That's why we need to actually see it for real until then, I will just remain silent about it and won't gonna use it as a reference for my future investment.

[justdimin]

One of the best cities with a top-notch booming economy and a fantastic location hub for international trades and investments is Hong Kong. As Bitcoin and cryptocurrency has been on the verge of been made legal in such a significant and prominent place as Hong Kong, believe the operation of means of payment to be efficient and dependable. There will be more potential for expansion in the neighborhood as new investors are proud to expand their operations there. There is a significant majority of its residents who place an emphasis on embracing cryptocurrencies and who also go above and beyond to buy bitcoins to be placed in their different portfolios for significant gains when the bull comes. Due to the large number of people who will start trading and making significant investments, FOMO will completely disappear.

I understand that Hong Kong could be a great place for crypto, and yet it is a global thing and just one nation or one city won't change much. Remember the fact that New York made it as hard as possible to have any crypto companies in it, I think it was the mayor or something back in the day and all the crypto companies there got closed. You know what happened after?

We broke ATH twice, first to 20k in 2017 and then to 68k in 2021, and this was after what happened in New York. Can you tell me it is not a good place? The place with the most money in the world and wall street? Of course it was a great place but banning didn't change much in the long run.

[Ahli38]

I heard that Hong Kong would issue a license for a crypto exchange, which indicates that using Bitcoin will be allowed. That would undoubtedly have a positive impact for bitcoin. We might even spot a tiny bull. Naturally, because it will trigger FOMO. As Bitcoin will be legal in Hong Kong, some new investors will begin there. Despite its drawbacks, this is a good initiative.

this is indeed very good news for the growing adoption of crypto and bitcoin. and this news will surely bring more investors who invest their assets in bitcoin. And regarding Exchange licenses in Hong Kong, it has indeed attracted several large Exchanges to submit proposals there to obtain licenses there. I hear Huobi, bitget and Gate.io either will or have done so. even OKX has planned it from last year regarding this license.

[nurilham]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

I think there will be no big impacts on crypto market and no significant change in BTC price. Even if there is a change in BTC price, it will be a temporary change only (a short-term increase). If you expect a significant move in BTC price, just wait for the BTC halving in 2024!

However, it will be good for everyone in Hong Kong, it will be easier to use Bitcoin in many sectors. When BTC is fully legalized, it means that the Hong Kong government fully supports BTC. It may be almost the same as in El Salvador, the government probably plans to have a special program to utilize BTC massively there.

[serjent05]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

I think there will be no big impacts on crypto market and no significant change in BTC price. Even if there is a change in BTC price, it will be a temporary change only (a short-term increase). If you expect a significant move in BTC price, just wait for the BTC halving in 2024!

If the news about Hong Kong Legalizing Bitcoin become a hype and news trend then it will affect the price of Bitcoin.  what I am saying is, whether there is an effect or not depends on the severity of the impact the news can bring.  If it made a lot of noise then it is more likely the reason for some massive adoption in some area.

However, it will be good for everyone in Hong Kong, it will be easier to use Bitcoin in many sectors. When BTC is fully legalized, it means that the Hong Kong government fully supports BTC. It may be almost the same as in El Salvador, the government probably plans to have a special program to utilize BTC massively there.

Not only in Hongkong but also in the entire cryptocurrency.

[Ryu_Ar1]

I think it's only good for Hong Kong which will get a significant difference of course but for bitcoin it will still be the same and the impact is definitely there but not significant.
The problem in this case is that I don't understand what the Chinese government is doing because regardless of anything Hong Kong is still one of China's special administrative regions and currently China is rumored to support them in making Hong Kong a crypto center even though they prohibit it in China.

According to Bloomberg, officials from China's Liaison Office have been frequent guests at crypto gatherings in Hong Kong. The tone of their visits and followup calls with certain projects has been friendly.

Whether this is indeed a new tactic from them or indeed they are now starting to return to Crypto we do not know for sure about it.

[Sarah Azhari]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

it's a normal thing. Hong Kong is still a part of china where still the agrarian people who like trading and investment. I don't know why they know this is the right time as the moment to legalize bitcoin?. As I remember, after halving, they will ban bitcoin again and make FUD it again after massive sold on ATH 2025.

[Nwada001]

Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?

more exposure, making crypto closer and more accessible to its citizens. But the regulation will be much more extensive; there will be a tax policy on all licensed dealers, both large and small, citizens will be charged, and all that. It will be both an advantage and a disadvantage to all, but they will mostly support the centralized way of trading crypto since that's the best way to benefit from it.