Bitcoin, British Pound trading volume soars 1150% as UK's currency risks doll...
Doom and gloom for some British pound investors is neatly avoided with a Bitcoin flight. Bitcoin (BTC) will see increased interest from the United Kingdom “very quickly” as fiat currency volatility makes BTC look like a stablecoin.That was the conclusion from Gabor Gurbacs, strategy adviser at investment giant VanEck, one of many flagging Bitcoin’s appeal over the pound this week.UK becomes fertile ground for Bitcoin "orange pill"As the U.S. dollar runs rampant, its strength has come at the expense of trading partner currencies, notably the euro, pound and Japanese yen.The pound’s....
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Bitcoin (BTC) trading volumes against the British pound (GBP) surged to a new high after the Sterling wobbled on Tuesday, prompting market experts to speculate that investors scrambled to dispose of the Pound in exchange for Bitcoin or to profit from arbitrage. The British pound reached a record low against the U.S. dollar, according to data compiled by […]
The world’s oldest fiat currency, the British pound sterling, slid to an all-time low against the U.S. dollar at a little after 1 a.m. (ET) Monday morning. At the time, the pound tapped 1.0327 nominal U.S. dollars per unit, but rebounded against the greenback to 1.0775 by 11 a.m. Monday morning.
Pound Sinks Against Greenback to $1.0327 but Manages to Rebound Back to $1.0826
On Monday, September 26, 2022, the British pound sterling reached an all-time low against the U.S. dollar. The pound’s losses follow the euro sliding to a 20-year low against the Greenback on....
The pound sterling is experiencing heavy turbulence. The dollar is eating it all. Bitcoin is in a deep slumber. What a time to be alive! Things are moving and shaking in the finance world and the general population can’t do much but watch the show. And place their bets. British people recently saw the pound sterling and the euro sink to all-time lows against the dollar. A percentage of the population reacted by acquiring bitcoin, the charts show. Related Reading: Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike Another important factor is that the pound....
Mainstream investors and financial institutions have dismissed Bitcoin as a currency due to its intense volatility. The British pound recently plunged to more than 6% in minutes, crashing various markets and exchanges. While the British pound came closer to reaching its 31-year low value, the price of Bitcoin continues to surge, reaching $635 with experts presuming a $700 breakout by the end of October. Since Brexit, the British pound has continued to struggle in dealing with its declining value. The rapid devaluation of the national currency forced a substantial number of financial and....
The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but could the British pound's weakness be a positive for Bitcoin. On Sept. 26, the British pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors' doubts about the government's capacity to withstand the growing costs of living across the region.The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy,....