The Italian Constitutional Referendum May Drive Bitcoin Demand
Tomorrow's Italian Constitutional Referendum may turn out to be a good thing for Bitcoin, irrespective of the outcome. The economic condition of European Union nations hasn’t been that great so far. Be it the Greek financial meltdown, Spain’s tryst with the economic crisis or the latest Italian banking crisis. As Eurozone jumps from one crisis to another, the latest one lurking around the corner is the Italian Constitutional Referendum. The referendum to make constitutional reforms is a significant development in the European Union after Brexit. The Italian Constitutional Referendum, set....
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As many economists predicted, the Italian constitutional referendum of 2016 shook the country’s banking system to the core. Italian bank stocks have plummeted drastically since the referendum and it comes at a time where the digital asset bitcoin is seen by investors as a safe haven. Furthermore, Chinese bitcoin interest has grown exponentially as the....
Monte dei Paschi, the oldest banking institution in Italy may soon be rescued by the government. It can potentially drive investors towards Bitcoin. The cryptocurrency community is elated to see the price of Bitcoin hit the roof. But the scene isn’t so rosy for many Italian investors who decided to trust the country’s fiat economy and invest in one of the country’s leading banking institutions— Monte dei Paschi. Italy has been going through a rough patch since the past few years. The country’s failing economy has gotten much worse lately and the recent referendum for the constitutional....
Those of you who are Bitcoin veterans know that political upheaval, economic turmoil and general uncertainty in the global markets are great for the value of Bitcoin in the immediate future. For those that are new to the Bitcoin community, welcome to “upward volatility” as Bitcoin is expected to see a very positive week after the changes made in the Eurozone on Sunday. The EU continues to show a combination of populist anger and an overall pivot away from the globalist EU governance model as Austrian and Italian voters demand changes that should help Bitcoin close the year on a high note.....
The recent political and economic situation across the world has increased the chances of Bitcoin's price going up in the coming days. The year 2016 has been a great year for Bitcoin. Apart from the few instances where the cryptocurrency network’s mempool was flooded with unconfirmed transactions due to increased activity, it has exhibited a great performance in the price front. Specifically in the recent days, Bitcoin price has been on an upward rally owing to various political and economic factors. Some of the recent events that might spell good news to the Bitcoin ecosystem includes:....