For Bitcoin, the Brexit poll couldn’t have come at a more uneasy time but some good developments are taking place on the sideline.
The digital currency has been in and out of an almost three-week low on Thursday June 23 at around the $580 range which is quite worrying especially for those who still cringe in anticipation of a smooth ride as they step into its world.
Today, Thursday June 23 the United Kingdom is deciding whether to leave the European Union or not. The impending outcome is shaky as latest tracker shows it could still go either way . So is the stable point of Bitcoin price. Shaky and dicey to go either higher or lower on one point, and to stay put on the other.
This is on the backdrop of financial markets that have been roiled for weeks as opinion polls pointed to a lead for the Leave campaign though the UK stock market and sterling rallied in recent days on fresh polling suggesting British voters would opt to Remain.
Giving an outlook, Admiral Markets’ Analyst, Nenad Kerkez , presents a research which shows a winning Bremain option with the 53% (R) of votes vs 47% (L) for Brexit. This compares to four other polls conducted by YouGov 42%R/44%L, Financial Times (44%R/44%L), ORB 53%R/46%L and Survation 45%R/42%L.
A Bremain, for him, will restrict the upside while a Brexit will create possible longs in Bitcoin. “If we see a Brexit, Bitcoin should jump heavily,” he said adding that it seems to increase its value during risk off as a defensive asset.
Advisor to Wings , Dominik Zynis, shares a similar view. ”Massive BTC pump,” he says on what to expect in the case of a Brexit though with a caution. “No, but really, Brexit would take some years. It’s not a kill switch […]
