Could a No-Deal Brexit Fuel another Bitcoin Rally?
I am in the UK. The Brexit referendum was what got me into crypto in the first place. The UK economy is f**ked. I would much rather have my money in bitcoin than in £.
But... I'm not sure enough people currently see crypto as a safe haven for a no deal Brexit to have much of an effect. And the UK really overestimates its own importance. We are a small country with delusions of grandeur, and many people here still think that Britain rules the world. Really we are no big deal, and barely a splash in the global economy. UK events won't be big enough to cause a bitcoin rally.
Also I think crypto is only really seen as a safe haven in countries that are faced with hyperinflation etc - which I don't think will happen here... the UK will likely continue its slow and steady deterioration. Kind of like the elves in Lord of the Rings (sorry, I've been drinking) - we will diminish and go into the west (i.e. away from mainland Europe). Okay I'll shut up now.
Topic: Could a No-Deal Brexit Fuel another Bitcoin Rally? (Read 108 times)
I don't see what Brexit has got to do with Bitcoin. Unless you think that it will accelerate the death of the Euro and the EU asset strippers. The UK will be immensely stronger once it has regained its independence and self-determination. It is likely that the bankers will create their own replacement for the Euro, and reluctance to accept that could boost Bitcoin.
They will not be stronger. Businesses are already suffering from different problems , one of which is lack of good workforce.
Those foreigners which some Brits hate so much are going elsewhere like Germany. But wait, who will work in their fields when all the foreigners are gone? no one because most British people do not want the dirty jobs!
EU gives enormous economical benefits for those who participate in the Union. British are already searching for other unions which are the same as European union only with less benefits and less responsibilities. Noone likes to sit in customs , no business likes customs and taxes!
BTW . Check the BTC chart date when british voted for leaving, Bitcoin had huge gains. There is a possibility that part of GBP will exit to BTC again.
I don't see what Brexit has got to do with Bitcoin. Unless you think that it will accelerate the death of the Euro and the EU asset strippers. The UK will be immensely stronger once it has regained its independence and self-determination. It is likely that the bankers will create their own replacement for the Euro, and reluctance to accept that could boost Bitcoin.
I don't think that we have reached a point that BTC is being used for real life Trading and making general life transactions. It is currently limited to being used by die hard Bitcoiners who have started taking it at stores and as a form of payment. But we are gradually working to achieve the goal of Bitcoin being a universal currency being accepted as a form of payment. Saying that, th news of no-deal Brexit will surely act as a catalyst to propel the price. These type of news do give a boost to the existence of digital currencies.
Let’s have look at the current state of Brexit and its connection to Bitcoin. Boris Johnson, the former London mayor and a diehard Brexiteer, is likely to become the U.K.’s next prime minister. According to British bookmakers, he would be prepared to leave the European Union without a trade deal with the EU if indeed the current trade deal of Theresa May won’t be approved.
In addition, odds of Boris Johnson becoming the next prime minister are very high which may result in the continuous downfall of the British Pound as he would be carrying out the Brexit without any trade arrangement. EU leaders on the other side also said that the UK will be in big trouble, getting kicked out of the European trading block at the end of October if the trade deal won’t work out. Some think that this could send the Bitcoin price even higher.
https://all-stocks.net/could-a-no-deal-brexit-fuel-another-bitcoin-rally/
In addition, odds of Boris Johnson becoming the next prime minister are very high which may result in the continuous downfall of the British Pound as he would be carrying out the Brexit without any trade arrangement. EU leaders on the other side also said that the UK will be in big trouble, getting kicked out of the European trading block at the end of October if the trade deal won’t work out. Some think that this could send the Bitcoin price even higher.
https://all-stocks.net/could-a-no-deal-brexit-fuel-another-bitcoin-rally/
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