Brits May Choose Rising Bitcoin Over Tumbling Pound As Brexit Lead Widens
A new poll by the Independent puts Brexit at a 10% lead over remain for the first time ever, sending the British pound tumbling down, reaching a low of $1.40 from $1.71 two years ago. At the same time, Bitcoin has been on a year-long up trend after reaching a low of $160 in August 2015, seeing a stratospheric rise past $600 in a bull run. Recession may be ahead. Most are suggesting China, which is facing its own economic difficulties, has been leading the charge, not least because at one point there was a $100 spread between Chinese and western exchanges. However, as economic uncertainties....
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Albeit many people expected the Pound Sterling to lose some value due to the Brexit, the results are overwhelming so far. Most people are well aware of how the Argentine Peso is not having the best time of its long life so far. The currency is plagued by inflation, and holding Pesos is not the best course of action right now. But the British Pound is having an even worse time since the Brexit. In fact, the Pound Sterling is the world’s worst-performing currency as we speak. Pound Sterling Drops Further. Albeit many people expected the Pound Sterling to lose some value due to the Brexit,....
The Brexit referendum results are out. With the majority voting to Leave, the global markets have dropped while the Bitcoin and Gold futures register a rise. We finally have some closure with regard to Britain leaving the European Union. The latest Brexit referendum has resulted in over 50 percent of the English voters choosing to leave the European Union against 48.1 percent. The results of Brexit referendum have put the whole bloc into turmoil as many were convinced that Brits would vote to ‘Remain’ instead of ‘Leave’. The resulting politico-economic indecision is being reflected in the....
After the Halving and the Brexit Bitcoin remained stable. On the other hand, the pound sterling has been experiencing high levels of volatility. The much anticipated Halving (Reduction in half of the reward given to bitcoin miners) and the Brexit (the exit of the UK from the European Union) are two important events that happened in the middle of this year. Both events brought a lot of speculations, and if we take a look at the behavior of both currencies after these two events, we will note that after the Halving and the Brexit Bitcoin remained stable. On the other hand, the pound sterling....
The Brexit vote has come and gone, and while anti-Brexit petitions have arisen among the turmoil, many U.K. residents who have their savings stored in British pounds recently woke up to discover themselves eight percent poorer than what they’re used to. Bitcoin Price Is Falling, Still Doing Much Better Than the Pound. The British Pound has fallen in value since the Brexit vote took place; it now stands at the lowest it has been since 1985. Unfortunately, bitcoin’s rise is also witnessing a temporary halt. Since our previous price piece, which saw the digital currency hovering at around the....
The British pound slipped around 8% on Friday last week after the Brexit vote; however, Bitcoin surged around 9% demonstrating that the cryptocurrency is detached from a centralized government allowing people ‘to preserve their wealth in a secure way.’ Since the Brexit vote, the British Pound has slipped in value and now stands at its lowest since 1985, prompting a rise in the number of anti-Brexit petitions. While the price of Bitcoin may be down to around $631, at the time of press, from $675 after the vote, the future of Bitcoin is still gleaming unlike the fate of the Pound. This....