Bitcoin Forum

Brexit is looming for the UK on 29th March. Will this have any effect on bitcoin price ?
When the vote took place in the UK back in 23rd June 2016 and the result was revealed the following morning - many London bankers made a killing on pound Sterling/ Euro forex. There also appeared to be a spike in the btc/usd , this may well have been completely independent of the vote. What will happen on the 29th March? Anyone have any thoughts?

there was some speculative drama mid 2016. but not anything sustainable/impactful
so always expect speculative drama, but never expect to know how much, how long it will be.

seeing a price change historically (in hindsight) is meaningless.. its just a line on a chart.
so unless your online and ready to trade and made the right judgement call at the right time (gamble) you might make some
short quick profit. or you might make a mistake and end up on the bad side.

most of the time the speculative drama is over before people are even ready to benefit from it. so most dont even try no more.

so no guarantee either way.
most smart people prefer to take 1% steadily each day (365% a year) instead of hoard and hope for the one day they time a one time gamble perfectly that might gain them 2%-200% in on go

This is what I was thinking tbh. I’m not a trader myself , but I wonder if a few big players will be ready .

im british..
stronger pound, weaker pound, we will survive

if £1 buys E1.17 today... but only gets E1 next month.
then it will cost us more to buy euro goods....... flip side we start manufacturing our own
which europeans will then buy because its cheaper for them

EG imagine a punnet of fruit. costs E1.17 (£1)
if we started growing our own for £1 we are not having to buy euro fruit at £1.17(e1.17)
europeans can then buy english fruit for E1 instead of buying euro fruit at E1.17

if the forex went the other way wher £1 moved to e1.30. we can buy euro fruit at e1.17(£0.83)

...
as for the fear of no trade.. thats just foolish media scare.
america, russia, india, asia are not euro. but they trade with euro fine.. so ofcourse the UK will trade with europe. we dont need to be euro to trade with them. we just do things how america/asia do it.

Holistically there is likely to be a positive shift inline with speculation which definitely will have effect in the soar price of Bitcoin but never mind "not bull-run", the advent of Brexit will pave ways for the crypto-world.  

i see a 'calve' run... (temporary young bull).
but not a trigger for a long term bull run
but now we are just speculating. which is just drama.

if the calve run spikes too quick. expect a cub run (young bear) correction

The UK economy and contribution to bitcoin price is probably too small to make a significant difference to global markets and prices. BTC/GBP trading pairs only make up about $10 million of the daily volume, with many UK traders instead trading in EUR or USD to take advantage of higher volume markets. Certainly the pound is likely to take a short term hit, especially in a "no-deal" Brexit scenario, and so the price of bitcoin in GBP will rise. UK citizens may want to be holding assets other than GBP at by the end of the month, but these assets are probably more likely to take the form of USD or gold rather than bitcoin.

In short, the price of bitcoin in GBP will rise, but only because of GBP becoming weaker. The price of bitcoin in EUR or USD is unlikely to be affected.

I don't expect the Brexit to cause any adverse effects on bitcoin for long. Perhaps some drama and FUD may arise that can cause some people to sell, but knowing how small the BTC/GBP market is in comparison to the rest of the world, it's safe to say that it's not something substantial that may cause large losses. This has been happening for quite a few times now, and so far, nothing serious has happened in bitcoin yet. If there's anything that would take a beating, that's most probably the Pound above any currencies,

I don't think this will have any effect on the bitcoin price.  The currency that will be losing value in the future is the USD, not the Euro.  United States will not last as the economic power it once was.  I don't think the European Union should have ever been formed in the first place, everyone should of just stayed their own coutnry.

well trump made bitcoin rise so brexit can also do it

There are more chances for the increase in the demand for bitcoins after UK leaving the European Union and due to increased demand for bitcoins there are chances for the prices of bitcoins to boom in the crypto currency market which will help all the investors to make huge returns from their investment on bitcoins. Lets wait and watch how the market is going to after MArch 29th, 2019 as there is high volatile nothing cannot be predictable. fingers crossed and hoping for the best, the bitcoin market will surge and there are more likely chances for the price of bitcoins to reach $ 50000 USD by next year which will cause for mass adoption of this technology.

Any political or financial instability is good for bitcoin.

Not every people but many people started to see bitcoin as a safe haven. However in this case most people are going to prefer their own FIAT currency because neither EUR nor GBP are weak currencies. In the long run both of them are going to fail though so, brexit or no brexit, buying btc will always a good idea.

I hope that Brexit will be the beginning of the end of FIAT as we know it, ut the damn banks/politicians aren’t going to give up that easy and will do their best to continue to screw us over. We can live in hope

We are already at the bottom of the bear market if not, we are very close. You may lose some in the next 2 months at best but after that, it won't be possible to go down below $3.5k because the resistance is too strong around those levels.

Short term, mid term, long term, right now bitcoin is your best bet.

So difficult to tell what can on earth affect the price for BTC. I'd say since last year events and news stoped influencing BTC price. E.g. I remember an event in NY last year. People said it would affect the price, but it did not. IMHO

General consensus seems to be that Brexit won’t have a huge impact on btc price - possibly a slight rise on the day .I’ll update this thread if and when Brexit actually happens. Thanks for insight all .

It's 20 days left officially but the date might move into July. The amount of GBP trade is to small to affect BTC. Most trades are done against USD or derivatives.


It's a good choice to flee GBP right now. Or going short against it, at some forex broker. There's a precedence some millionaire who made a killing betting against the crown.

Bitcoin has shown some correlation with the U.S. stock market, so a political or economic disaster is not necessarily positive for the cryptocurrency. However, those who oppose the EU or its policies should consider taking financial matters into their own hands by using bitcoin, given that it is decentralized.

Not without risk, however. If parliament votes to delay Brexit (which is looking more and more likely the longer the completely incompetent Theresa May continues to push her terrible deal), we will very likely see the value of the pound rise. It could very well stabilise for a few months until the next exit date approaches, or rise even higher if Brexit is called off entirely.

Bitcoin is borderless so it makes no difference if any country is in EU or elsewhere in africa. Brexit is nothing for bitcoin, the halving is another story

Definitely there would be a price spike, better for people who are holding bitcoins to save them using teather or withdraw them, again it's only my opinion, but to be safer it's not a bad idea. Yes, if there would be a spike I think it would be not that big, because there is no restictions for ICO, as we saw 2 years ago with China which had them.

Brexit should not have any influence on the bitcoin price, I do not see any correlation or relationship between Brexit and the bitcoin.
Bitcoins price could rise or fall that day, as it did previously, but I doubt if any of that would be because of the decision.
We are fond of attributing big events to the price of the bitcoin even if they have no relationship between them

The UK will become massively stronger once it is free of the leeching EU. But this will only affect the exchange rate between Bitcoin and Sterling. The collapse of Deutsche bank and thus the EU will have much more of an effect in my opinion.

A far larger influence will be the proposed State backed crypto from the Bahamas -
https://www.newsbtc.com/2018/06/25/bahamas-launching-state-backed-cryptocurrency-legitimate/
As most of you are probably aware, The City of London controls most of the world's money via a hierarchy of trusts in British Commonwealth tax havens like the Bahamas. This is in association with Washington, the country that rules and controls America. It may well be that this crypto will be the forerunner of the new world currency that will replace the unsustainable current fiat systems.

Will Sterling survive? Sterling is the oldest of the current world currencies, and one of the few that still has gold coins as legal tender ( the Sovereign and the Britannia ). It is one of the few currencies that the ruling elite of bankers may decide to retain as we move into the world of formal virtual currencies. These will probably be misnamed as crypto-currencies to try to gain acceptance following the success of Bitcoin.

Well, the pound has fallen further today, and the UK government has again lost a vote in parliament to secure support for its terrible Brexit deal. The next step is tomorrow there will be a vote on whether or not to leave with no deal, which is likely to fail, and then there will be a vote on whether or not to ask the EU to delay Brexit. Voting to delay Brexit doesn't actually solve any problems though, as the UK still can't seem to decide what it wants, and the EU are likely to refuse an extension unless the UK propose a good reason for it (e.g. a second referendum, a general election), and not just "we haven't decided yet".

What a shambles. Price of bitcoin in GBP hasn't really differed from the general BTC trend, though.

It is because GBP has no influence over BTC's price at all.

It is either JPY, USD or  CNY. (sometimes EUR too but not as big as these three.)  But it is %90 of the time USD which moves the price of BTC.

You should see this:

https://i.ibb.co/qshXrW8/ddf.png
https://fiatleak.com/

The Americans are buying BTC like there is no fucking tomorrow.

I do not think that the outcome of 29 March will affect bitcoin directly and my reason is that bitcoin has not respected the fundamental most times that it will change its trend.

But, I do know that it will affect bitcoin paired with fiat.

When there was a FUD about China banning bitcoin in 2017, which eventually proved to be true howbeit with some strict conditions. Bitcoin still went up high after a dramatic fall and would later go ATH the same year despite the population of traders of bitcoin in China, they seem to somehow find a way around the government regulations then. So Brexit will eventually have no negative impact on bitcoin, many traders might even migrate to bitcoin market as we may see a weak Eurozone after the exit.

Definitely the impact on the brexit will be felt on the price of bitcoin in  days preceding the decisive date, thereafter I belief the price will be normal however the effect will be minimal considering the the numbers of users in UK compared to other countries globally IMHO. 

This situation is likely to lead to turmoil in the financial market, but Brexit's long-term effects will be much more effective and it is difficult to predict what kind of results it will already have.

March 29 will not be the date of Britain's exit from the European Union
The date has been extended because the British government is facing trouble in Parliament
I do not like working this way
I prefer trading at a small but sustainable profit rate
Better than relying on lucky strokes that may not come

Will there really be a brexit? They are delaying it so much that this can take a while.
Do you really believe that the EU will collapse with a large economy that Germany is leading it? It can become smaller with some countries leaving but it won't disappear. Poor countries need loans the EU provides and rich ones need markets for their companies to expand.
I don't see any way in which brexit could influence bitcoin. These are unrelated.

It's certainly looking that way, but nothing is set in stone yet. The UK parliament voted by 413 to 202 yesterday to ask the EU to delay the date of Brexit, but the EU have to agree to it, and any one of the member states could veto an extension. Similarly, the vote to reject leaving the EU with no deal was not legally binding, and so currently the UK will still be leaving the EU on the 29th March without a deal. If they agree to a deal in the meantime, the date will be pushed back to June to allow time for legislation regarding said deal to be put in place. Or the EU might grant a longer extension to allow the UK to re-negotiate, hold a second referendum, or even hold a general election.

You are probably right in saying the UK won't leave on March 29, but the date hasn't been extended yet. A lot could happen in the next two weeks. As expected, the likelihood of Brexit being delayed has caused the pound to rally somewhat against the dollar over the last several days. Also as expected, the effect on bitcoin has been negligible.

The brexit deal has been going around for a long time. Theresa May has failed twice and now it's delayed, looking the political scenario nothing is exactly predictable. Back when the brexit deal was announced there was some impact experienced over the market of bitcoin, and the same can't be expected to take place by now. Maybe some forward push could happen.

I don't think this will have a big impact. now the market will not move with speculation like this. bitcoin and brexit are very far away. maybe brexit can have an impact on the European economy but not crypto.

May be I miss the point here but I really don't see any correlation between thr Brexit and cryptocurrency. Except we are alluding that the UK will dump the pounds for Bitcoin as their national currency. But again this is highly impossible considering the fact that the British are a very proud race. Look at how they insisted on the Pound Sterling despite being in the EU where Euros is the common currency.

Brexit will be a scenario that can harm everyone. but on the other hand Brexit has good influences for the volatility of BTC and other crypto. I thought. Brexit will be the basis of debate among other countries. March 29 I see Brexit will still be rejected.

This depends on the relative weight of the GBP  in the encryption market
I think it is weak
But on the other hand, the GBP will receive a blow when Britain leaves the EU but who will benefit?
I see that the dollar and gold will precede BTC
 

I'm not sure. I think other countries will reject Brexit. it's like a Bitcoin ETF. so. Brexit will get rejection from every country except some countries that have great enthusiasm for the crypto world.

So there must be another country who is selling BTC like there is no fucking tomorrow, since each trade involves two parties

Where are the production facilities producing BTC located?

Of course there are sellers who are selling btc like there is no fckn tomorrow. They are called "miners". They don't have any other choice but to "sell" because you know, operating costs.

What I am seeing here, USA is buying most of the coins which are being sold. Not UK, not Japan, not Germany. %90 of the time it is the US. They are trying to adopt early. (earlier than the rest)