Brexit will make Britons pay attention to Bitcoin
The Critical Date for ALL British Cryptocurrency Investors – Make Note!
IN long term Brexit will have a positive impact on the development of the UK cryptocurrency industry. UK is more crypto-friendly, than EU regulators.
British Prime Minister Boris Johnson insists on the kingdom’s withdrawal from the EU on October 31, despite the fact that parliamentarians voted for a postponement (322 MPs against 306).
The high likelihood of leaving the EU without a deal (brexit no deal) will cause the pound to weaken against the euro. Popular trade expert on social media Glen Goodman believes that Brexit will not alienate investors from the UK, but they will seek to hedge their sterling risk with bitcoin and other cryptocurrencies.
The Bank of England confirms the weakening of the national currency. Beginning with Of 2018 the growth of the pound slowed and did not reach the expected level amid uncertainty. British CBI, the index of business optimism, fell 19 points.
A survey of investors by Cindicator Analytics shows that 62% of respondents are going to transfer part of their assets to Bitcoin and Ethereum due to the uncertainty of the national currency. Another 19% believe that Brexit will not affect the pound sterling in any way. The same percentage of respondents claim that cryptocurrencies will weaken due to Britain’s exit from the European Union.
Meanwhile, the Bank of England put forward the conditions on which it is ready to accept Libra.
text: Dmitry Tokarev