Rise of Bitcoin and Gold as Brexit Turns into Reality
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....
Related News
Following Brexit, the digital currency is expected to rise and cross the $700 mark soon and maybe even touch $800. The value of Bitcoin has shown a significant increase from what it was a couple of days ago, following the Brexit Results. The digital currency, which was exhibiting healthy gains in the past few weeks registered a significant drop during the last weekend, only to get back on its feet after the Brexit results. Bitcoin is being increasingly referred to as a safe haven asset, along the same lines as gold. Both gold and bitcoin are financial instruments, but unlike other....
While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. The two contemporary safe havens during the times of economic crisis are the representatives of tradition and technology. While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. And seems it is truly a digital age, as proved by recent bitcoin high over gold. The world is increasingly turning to bitcoin as a safe haven. Nonetheless, the demand for gold invariably....
The Brexit is a doom scenario for traditional finance all over the world. As stock markets continue to lose ground, and the Pound Sterling devalues, there is an increased interest in gold and silver. Bitcoin, that other scarce store of value, is doing quite well too. While the majority of investors around the world thought the Brexit vote would result in....
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....
The bitcoin price chart advanced $140 since yesterday’s low. In the meantime markets rudely awoke to find Brexit had come true. Chaos ensued, but the bitcoin market keeps ticking like clockwork. A chaotic day in global markets as Brexit became an unexpected reality. Market consensus had ruled out a vote in favor of the UK leaving the EU, hence today’s outcome sent markets reeling. British Prime Minister, David Cameron, has announced that he will resign after the referendum and the pound (GBP/USD) dropped to $1.32 during the day. The US dollar was the main beneficiary in the forex markets....