The main event that traders are watching this week is the EU referendum, which has been pushing bitcoin price action around so far this month. Surveys suggesting a lead in favor of the UK leaving the EU have supported bitcoin since this scenario would bring a huge amount of uncertainty in the financial markets, leading traders to pursue alternative investments.
The official results are set to be announced soon and so far the lead is in favor of a Brexit, leading to sharp declines for the British pound and European futures. This could spill over to the rest of the global markets, as weaker economic activity in the European region could weigh on demand for commodities and trade activity in other parts of the world.
With that, bitcoin price could be poised for further upside in the event of a Brexit, possibly even pushing past its highs this month and creating new ones closer to $800-900.
http://www.newsbtc.com/2016/06/24/bitcoin-price-technical-analysis-06242016-brexit-lead-boosting-bitcoin/
Topic: [2016-06-24] Bitcoin Price Technical Analysis– Brexit Lead Boosting Bitcoin (Read 235 times)
June 23, 2016, 10:54:36 PM
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