The British pound collapse and its impact on cryptocurrency: Watch the Market...
On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the fall of the British pound and its impact on the cryptocurrency market. On this week’s The Market Report show, Cointelegraph’s resident experts discuss why the British pound is at its all-time low and how that might impact the cryptocurrency market.To kick things off, we break down the latest news in the markets this week:Bitcoin gains 5% to reclaim $20K, eyes first ‘green’ September since 2016A classic snap of sideways trading action sees Bitcoin’s (BTC) price aim higher, but concerns remain over what....
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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 […]
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,....
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 rapid depreciation of the British Pound has resulted in Forex companies like Thomas Cook imposing restrictions on the sale of foreign currencies. Bitcoin offers a better way out for ordinary residents. Impact of rapid depreciation. For the common man, there is little he can do if his currency is subject to sudden depreciation. With the pound hitting a historical low, the British can only watch passively as their sterling-denominated assets lose value. The price of imported goods (like oil) and goods benchmarked to international markets (like gold) will increase in GBP terms. If they....