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Topic: UK BREXIT effect on bitcoin (Read 321 times)

legendary
Activity: 4214
Merit: 4458
June 23, 2016, 09:48:15 PM
#1
after seeing the dollar<->pound drop on early news there was a "leave" majority(even though only 1% of votes were counted at that point)
http://www.bbc.co.uk/news/business-36611512

if the leave does actually win. we should see some more parity between the dollar and pound.

in short if you were holding onto 1btc yesterday ($640 - £440)
then IF the dollar<->pound tanks any more. the $640 dollar price of bitcoin can become over £500 per bitcoin due to the forex rate changes getting closer in parity.
EG (forex rates $<->£)
1btc@$640=
1.50 rate= £426.67
1.45 rate= £441.38
1.40 rate= £457.14
1.35 rate= £474.07
1.30 rate= £492.31
1.25 rate= £512.00
1.20 rate= £533.33
1.15 rate= £556.52

which is good if you want to sell coins for pounds, because you get more pounds per bitcoin Cheesy
although the news hasnt shown if remain would make the rate increase. but if it did. then the pound price of bitcoin could go down, which would make it cheaper to buy Cheesy

might be some good speculative profiting happening this morning either way
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