What effect does the Brexit have on the price of bitcoin? According to cryptocurrency experts from Great Britain, the Brexit can just be positive for the bitcoin rate. It was recently announced that the Brexit has been postponed until January 31, 2020. But a Brexit looks like a Bitcoin ETF, perhaps it will be pushed forward infinitely.
“Bitcoin becomes a million pounds after the Brexit”
That’s the bold prediction of Josh Riddet, CEO of Easy Crypto Hunter. According to Riddet, investors are looking for more stable markets such as gold and silver in times of financial uncertainty. But bitcoin can also be seen as a safe haven.
Bitcoin crosses national borders and is not influenced by political decisions. And therefore, according to Riddet, the price of bitcoin is not negatively influenced by political drama.
“Brexit has little impact on the global cryptomarket”
William Thomas, CEO of Cryptomate, believes that a no-deal Brexit can be beneficial to bitcoin. In an interview with news.bitcoin.com he says: “In that case there will be great uncertainty within financial institutions of England and the EU.”
A no-deal Brexit means that there is no agreement between the United Kingdom (UK) and Europe. In that case, the UK is immediately separated from Europe and there are no trade agreements between them. If there is a deal (agreement), then there will be a transition period until January 1, 2021, if it is not postponed.
But Thomas is not sure whether a no-deal Brexit creates a greater demand for bitcoin and cryptocurrency in general. “I expect that we will see a rising movement of bitcoin against the British pound. But the British market only has a small share in the global cryptomarket. The Brexit may therefore not have such a major effect on the price of bitcoin worldwide. “
Whether the Brexit influences the bitcoin rate? That is just waiting. Keep an eye on our bitcoin price page to stay up to date.
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