Bitcoin Price Down, but Gaining Popularity in UK Following Brexit
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....
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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....
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....
The global desire for change seems to be growing. It looks like the people just want something different, no matter what. These recent developments have coincided with the recent rise in Bitcoin price and awareness. Examples include events such as Brexit, the U.S. elections and even the general elections in Nigeria, after which Bitcoin awareness has become overwhelming in the African nation. “History has shown us many times that when the economy and the official currency have struggled, people were seeking alternatives,” says Alena Vranova, co-founder and CEO at SatoshiLabs. With the....
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....
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....