Will the Sky Fall in on UK from Brexit Vote Results?

By June 24, 2016Bitcoin Business

The people of the United Kingdom have historically voted to leave the European Union making it the first state in the block to do so.

I believe the vote to leave was more about getting out from under the dictatorship of the unelected bureaucrats in Brussels who are lording their laws across the continent with little regard for its citizens than a separation from the countries of Europe themselves.

This vote has the potential to rock the European Union at its core with speculation now mounting as to which country or countries will be next. Brexit fever has spread across Europe with Italy, France, Netherlands and Denmark all calling for referendums next. How markets are reacting

The shockwaves across the markets we are witnessing today are proof of how important a position the UK had within the EU and an indicator of the potential it has in moving forward on its own.

London’s stock market had plunged more than 8% this morning although it had regained some ground to stand nearly 5% lower. Banks seem to have taken the hardest hit with Barclays and RBS falling about 30%, although they later pared losses to below 20%.

The pound fell dramatically as the referendum results emerged hitting a low of $1.32 against the dollar something not seen since 1985, although it has partially gained at time of writing.

Against the euro, the pound dropped 7% to about €1.2085. By Friday lunchtime, it has risen again but was still 5.3% down on the day.

This move in sterling is the biggest one-day fall ever seen. Is Bitcoin a safe haven? Bitcoin is really showing to be a global safe haven like gold through all this having rose by nearly $100 on the news of the Brexit result, and as fiat currency uncertainty mounts over the coming weeks […]

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