Cryptos Rise Amid Ongoing Coup in Venezuela

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Bitcoin and most cryptos have gone green today with an on-going attempted coup in Venezuela potentially being one reason for the upwards price pressure.

Juan Guaido, the self declared acting president of Venezuela has seemingly called for a military uprising.

He declared on Tuesday the “beginning of the final phase of Operation Freedom.”

Numerous videos are being shared on Twitter, some showing crowds trying to break into army barricades.

Others show soldiers attacking other soldiers with a full blown coup currently underway in Venezuela.

Bitcoin and other cryptos have significantly increased in popularity in Venezuela where inflations has reached epic proportions.

On the peer to peer Localbitcoin exchange, more bitcoin are traded in Venezuela than all of the United State or Europe.

The neighboring regions too, Colombia, Brazil and others, have also seen an increased crypto adoption with a recent electricity blackout in Venezuela seemingly affecting the number of bitcoin transactions.

What will happen now is unclear with these events currently developing.

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