Brexit Rumors Fail to Boost Market as Bitcoin Price Steady at $420
Despite periods of volatility, the global bitcoin market remained calm this week, gaining 1% while fluctuating between $410 and $450. The digital currency was trading at $423.52 at 12:00 (UTC) on 26th February, up from $421.16 at 12:00 (UTC) on 19th February, according to the CoinDesk USD Bitcoin Price Index (BPI). What may be most notable, however, is the lack of a price increase given potential macro-economic instability in the eurozone. One geopolitical development that coincided with bitcoin’s price volatility was the possibility of a Brexit, which would see the UK leaving the....
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Another bitcoin price hike is in the books following the unexpected Brexit. At press time, bitcoin has started a recovery and is now hovering around $655 USD. Bitcoin and Brexit. Bitcoin was doing quite well last week, having surpassed the $700 without much trouble, but ironically, things took quite a plunge at the same time that the UK voted to leave the EU. Actually, the two appear to be directly linked. The Brexit is affecting trading across the globe, even if they don’t seem related. For example, bitcoin trading is at its highest in China. At present, the country is responsible for....
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The bitcoin price chart remains in slumping mode and continuing decline is inevitable, yet, interspersed with crosscurrents. Best to sit out until a clear signal becomes evident in the charts. Price is likely to oscillate within the range of the past few days before a definitive signal manifests in the chart. Notice in the 4hr chart, above, that price remains below the 20MA (green). There is little techincal resistance to continuing decline, but we remain cautious of a bullish stampede higher, prior to such decline. It would be plain contrary to say Brexit had nothing to do with the market....
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....