• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
brexit
Sensei Inu Logo

Rise of Bitcoin and Gold as Brexit Turns into Reality

Gautham by Gautham
7 years ago
in Uncategorized
Reading Time: 3 mins read

We finally have some closure with regard to Britain leaving the European Union. The latest Brexit referendum has resulted in over 50 percent of the English voters choosing to leave the European Union against 48.1 percent. The results of Brexit referendum have put the whole bloc into turmoil as many were convinced that Brits would vote to ‘Remain’ instead of ‘Leave’. The resulting politico-economic indecision is being reflected in the international markets with the value of Euro and Pound Sterling registering a fall.

As the value of European currencies falls, the universal currency with no state — Bitcoin is benefiting from the Brexit situation. The value of Bitcoin has surged overnight by about 100 points to reach a high of $683.9. Since the rise, the digital currency has seen a small drop in its value, hovering around $660 (at the time of writing). The reduced value of Bitcoin may be attributed to the Prime Minister David Cameron’s resignation.

brexit and bitcoin

These new developments also mean uncertainty in terms of whether Britain is going to honor the results of the referendum or not. David Cameron was known to be pro-referendum with the intention of following through with the results, whatever it might be. But with the Prime Minister stepping down, the replacement/interim head of the state may also decide to ignore the results of the referendum, and find some other alternative. The Brexit referendum is not a legally binding one, so there is no compulsion on the part of the British Government to follow the results.

Now, the question is whether the British Government invokes the Article 50 of Lisbon Treaty, or decide to pay heed to a growing petition for another referendum being floated by few politicians. If the government decides to hold another referendum, the present one will be rendered worthless and resulting elections may have a completely different outcome.

The gains gathered by Bitcoin may be short-lived if Britain doesn’t invoke the Article 50 as it will result in things returning back to normalcy like nothing ever happened. However, the citizens continue to remain unhappy about Britain’s expenditure of over GBP 350 million every week to be a member of the EU as the country’s healthcare system falters.

As the global markets fall — Dow (INDEXDJX:.DJI) opening at a low of 700; Nikkei Index (INDEXNIKKEI:NI225) down by 8 percent and US Treasury hitting a 10-year low, the Gold futures, and Bitcoin better known as safe haven assets have increased.

Ref: The Telegraph |CNBC | The Guardian | Image: The Guardian | Chart: CoinMarketCap

 

Tags: bitcoinbitcoin brexitBitcoin Newsbrexitdavid cameroneugoldNewsprice
Tweet123Share196ShareSend
Gautham

Gautham

Related Posts

XRP price

XRP Price Set To Skyrocket: Crypto Analyst Predicts 1160% Surge Ahead

51 mins ago
Nya casinon utan svensk licens 2024

Nya casinon utan svensk licens 2024

2 hours ago
Shiba Inu

Shiba Inu At $0.0000072: Sellers Push For Breakout From Compact Zone

2 hours ago
Ethereum

Ethereum Price Faces Rejection But Bulls Are Not Out of Woods Yet

4 hours ago
Bitcoin Price

Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key

5 hours ago
Uniswap

Uniswap Unveils Funding Plan For Ecosystem Revamp As UNI Price Hits 4-Month Low

6 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • As the Market Turns Green Again, Strategic Investors Are...

    41 mins ago
  • Can Ethereum (ETH) and Bitcoin (LTC) bounce from current...

    15 hours ago
  • Solana Defies Price Fears, Bitcoin Spark Leads ICO...

    21 hours ago
  • Mercante Technologies to Launch AI-Powered Customer Support...

    22 hours ago
  • Expert Reviews Of IBKR vs eToro And The Promising Broker...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.