This week was packed with geopolitical and geoeconomic shocks all around the world. Brexit, the Colombian Government dialogue with FARC (Communist Guerrilla), and the Venezuelan OAS (Organization of American States) discussion sent ripples across the world’s stock and forex markets.
Bitcoin suffered from volatility increase, sending the price into a rollercoaster. According to the data from Bitfinex Bitcoin was incapable of breaking through the $789.78 mark it previously set. After that, it was downhill:
Bitcoin lost $220.43 of its value forming a retracement to the 61.8% golden rate ($569.35). This bear movement was further incentivized after Bitfinex suffered from major service outages, forcing a halt of the trading engine.
Brexit Causing a Bitcoin Price Surge?
The price found a support level and quickly made an upward movement, yesterday’s trading session was especially interesting as the ‘Referendum of the United Kingdom’s membership of the European Union’ AKA ‘Brexit’ polls started to show the real possibility of a win for the separatists -which was made official after the ‘Leave the European Union’ option secured a 51.9% result-.
These rumours ignited a strong upward movement that