The much anticipated Halving (Reduction in half of the reward given to bitcoin miners) and the Brexit (the exit of the UK from the European Union) are two important events that happened in the middle of this year.
Both events brought a lot of speculations, and if we take a look at the behavior of both currencies after these two events, we will note that after the Halving and the Brexit Bitcoin remained stable. On the other hand, the pound sterling has been experiencing high levels of volatility, right after the Brexit.
The reporter and financial analyst Yacob Peterseil said:
While bitcoin is not exactly regarded as stable — it’s bounced around between $2 and $1,137 over the past five years — it’s become an unlikely haven for currency investors in the aftermath of Brexit.
The aftermath of the Brexit caused stocks and bonds to fall. News agency Reuters reported that the markets lost more than $2 trillion in valuation. However, stocks have substantially recovered since then. Ian Williams, a strategist analyst at