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The Price of Bitcoin Increases Amidst Brexit Chaos

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Due to the global economic and geopolitical uncertainty scenario, especially in the UK because of the imminent arrival of Brexit, Bitcoin price has risen considerably in the last 24 hours.

On Monday night, Bitcoin rose above $ 10,000, a few days after experiencing a drop below that cap along with other major cryptocurrencies such as Ethereum and Ripple, whose prices also increased.

In the United Kingdom, the expectation generated by Brexit has caused the drop in the price of the pound against the US dollar. Even, and according to market analysts, Bitcoin is expected to reach record figures if the UK finally leaves the European Union.

On the other hand, the growing trade war between the United States and China, combined with the economic turmoil in Argentina, are other international scenarios that are producing the momentum of the value of Bitcoin.

Even though the price of Bitcoin is highly volatile, it has steadily increased during 2019. Despite being far from its record price close to $ 20,000, reached at the end of 2017, it has almost tripled its price since the beginning of this year.

This price upswing has been driven by the prospect of a Brexit with negative consequences for the economy, along with the increase in trade tariffs between China and the United States.

Source Link: https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-latest-brexit-cryptocurrency-market-pound-dollar-a9089596.html

About the author

Jhon Fernando Maldonado

Jhon Fernando Maldonado

Internet marketing and cripto currency journalist / writer. He has a degree in Linguistics from Universidad de Los Andes, in Venezuela. Passionate about digital marketing, with knowledge in topics related to technology and web positioning.

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