Rise of Bitcoin and Gold as Brexit Turns into Reality

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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

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

Read more ... source: NewsBTC USA

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