The value of Bitcoin has shown a significant increase from what it was a couple of days ago, following the Brexit Results. The digital currency, which was exhibiting healthy gains in the past few weeks registered a significant drop during the last weekend, only to get back on its feet after the Brexit results.
Bitcoin is being increasingly referred to as a safe haven asset, along the same lines as gold. Both gold and bitcoin are financial instruments, but unlike other financial instruments, the market conditions affect these two assets in an entirely different way. With Brexit becoming a reality after a majority voted for Britain to leave the European Union, the markets have experienced a fall. The hardest hit among all currencies are euro and pound sterling, along with rest of the markets. But at the same time, as mentioned earlier, Gold and Bitcoin have exhibited an increase in their respective values. The rise in Bitcoin’s value followed by the Brexit vote is much higher than that of gold.
The digital currency prices can be expected to further increase as an aftermath of the Leave vote. However, the demand for bitcoin is expected to rise next week as the