Yesterday markets were poised at a high prepared for the Brexit referendum vote that took place in the United Kingdom. UK markets were up before the vote and in the U.S. Wall Street was rallying with all three averages advancing upwards. Now the vote has ended with 51.9 percent of citizens voting to leave and 48.1 percent wanting to remain. Immediately after UK markets and the British Pound dropped severely. However, Bitcoin bounced back surging to a high of $683 per BTC after a two-day bear trap.
As soon as the vote was getting close to finishing as it was a very tight race, Bitcoin started rising upwards. The pound began to plunge before the end of the voting process and dropped to its lowest level since the early eighties. Markets outside of Britain that were open also started to feel the brunt of the Brexit storm as exchanges in Tokyo saw a downturn. Most hedge markets did well such as gold, some commodities, and now the new asset of the 21st century Bitcoin.