What the Italian Referendum could mean for the price of Bitcoin

[wesdewayne]

Check it out and let me know what you guys think!

https://wesdewayne.com/2016/12/02/what-the-italian-referendum-could-mean-for-the-price-of-bitcoin/

[1714772817]

1714772817

[1714772817]

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[IIOII]

I don't find that article very useful. It's pure speculation without any interesting research actually done. The influence of any referendum on Bitcoin price is greatly exaggerated in my opinion, since Bitcoin is a niche market compared to other safe haven investments like gold and silver. Before being able to invest in Bitcoin, people have to learn how it works. That pretty much rules out quick capital flows in the direction of Bitcoin.

World markets already assume a negative outcome of the referendum. The author got that right. But he draws illogical conclusions from his own theory: If market expect a negative outcome of the referendum and the referendum has an impact on Bitcoin prices, traders will already have bought Bitcoin prior to the referendum. This makes further price increases after a negative outcome not very likely.

[Yakamoto]

I don't find that article very useful. It's pure speculation without any interesting research actually done. The influence of any referendum on Bitcoin price is greatly exaggerated in my opinion, since Bitcoin is a niche market compared to other safe haven investments like gold and silver. Before being able to invest in Bitcoin, people have to learn how it works. That pretty much rules out quick capital flows in the direction of Bitcoin.

World markets already assume a negative outcome of the referendum. The author got that right. But he draws illogical conclusions from his own theory: If market expect a negative outcome of the referendum and the referendum has an impact on Bitcoin prices, traders will already have bought Bitcoin prior to the referendum. This makes further price increases after a negative outcome not very likely.

There is some merit to the assumption that you'll see a lot of people buy in before the referendum is completely over, but it will be close to when it ends.

back with Brexit it spiked because of the surprise win, right now we don't have a ton of supplied data pulled from Italy regarding the referendum, and because of this we don't know what to expect. Everyone had Brexit (and Trump) down double-digits close to the vote, and both ended up winning their respective votes.

It all comes down to expectations.

[BTCLovingDude]

I don't find that article very useful. It's pure speculation without any interesting research actually done. The influence of any referendum on Bitcoin price is greatly exaggerated in my opinion, since Bitcoin is a niche market compared to other safe haven investments like gold and silver. Before being able to invest in Bitcoin, people have to learn how it works. That pretty much rules out quick capital flows in the direction of Bitcoin.

World markets already assume a negative outcome of the referendum. The author got that right. But he draws illogical conclusions from his own theory: If market expect a negative outcome of the referendum and the referendum has an impact on Bitcoin prices, traders will already have bought Bitcoin prior to the referendum. This makes further price increases after a negative outcome not very likely.

There is some merit to the assumption that you'll see a lot of people buy in before the referendum is completely over, but it will be close to when it ends.

back with Brexit it spiked because of the surprise win, right now we don't have a ton of supplied data pulled from Italy regarding the referendum, and because of this we don't know what to expect. Everyone had Brexit (and Trump) down double-digits close to the vote, and both ended up winning their respective votes.

It all comes down to expectations.

brexit was the news all over the internet and all over the bitcoin related places the same thing was true about US election and Trump victory afterwards and that is why they could have any effect on price. besides the effects weren't that big.
this news is not even as significant.

[Sithara007]

Unlike the United Kingdom, Italy is not one of the countries which account for a large part of the Bitcoin trading volume. Even during the Brexit, there was only a 2% or 3% increase in the BTC exchange rates. So I assume that the Italian referendum will be having a minimal effect on the exchange rates.

[Raimonn]

I think that govern loosing the referendum is expected and will not influence bitcoin prices, but Italian banks have some big problems, and without a govern and new elections a new crisis could help bitcoin growing on europe and affect the price increasing its value.

[MingLee]

I don't know if there is really anything I got out of this article, it seems like they're more interested in getting people engaged through playing "what if"-esque scenario in their head and not really providing a ton of information of substance, giving an idea of what could actually (and is likely) to happen depending on the outcome of the Italian referendum.

It's an ok article, but nothing exciting.

[cakravothy]

italian referendum not big impact to bitcoin price
i think is big waves in bitcoin price from china exchanger , so if yuan can big effect, can big effect bitcoin price too
this now market fiat money is close, so euro money still not effect about italian referendum

in market bitcoin use pair euro only in kraken, maybe btce support too euro, so euro is not big impact to bitcoin price

[calkob]

I think it will have a great effect on the bitcoin price if italy get rid of renzi.  Hopefully italy will tank and bitcoin will soar even higher....lol

[Raimonn]

I think it will have a great effect on the bitcoin price if italy get rid of renzi.  Hopefully italy will tank and bitcoin will soar even higher....lol

The No won the referendum and Renzi announced that he will resign. Will be interesting to see how it affects to the Italian stocks (banks stocks could have big loses).

[ArdiPrabowo]

today euro value is down over 100pips or 1000 point
in open asian market and bitcoin price is down in open asian market
but in china exhanger in huobi and okcoin , trend still up,
maybe only market in europa can effect italian refendum, kraken bitstamp and btc-e is down
but in china exchanger market still up

[yayayo]

So the referendum happened and it was a "No" vote. Guess what? Not much activity in any markets. Of course the ECB has intervened in the bond and currency markets and the Fed has pushed gold back down where it belongs... but if we are honest, the whole thing was quite boring. Light years apart from the Brexit vote if you ask me.

All these speculation articles are based on nothing but hot air. The author does not know anything more than a random rock in the Great Plains. Especially all these theories about immediate effects on Bitcoin prices are nonsense in my view. There is no proof that any of these theories were even right in the past, much less being suitable to predict future influences on BTC prices.

Hopefully the author puts in a bit more effort into his next articles.

ya.ya.yo!

[Wind_FURY]

So the referendum happened and it was a "No" vote. Guess what? Not much activity in any markets. Of course the ECB has intervened in the bond and currency markets and the Fed has pushed gold back down where it belongs... but if we are honest, the whole thing was quite boring. Light years apart from the Brexit vote if you ask me.

All these speculation articles are based on nothing but hot air. The author does not know anything more than a random rock in the Great Plains. Especially all these theories about immediate effects on Bitcoin prices are nonsense in my view. There is no proof that any of these theories were even right in the past, much less being suitable to predict future influences on BTC prices.

Hopefully the author puts in a bit more effort into his next articles.

ya.ya.yo!

It was all speculation right from the very beginning and those journalists usually end getting it wrong. Most of them are just paid to write something or say something in front of the camera that is why there is the term "talking heads". That is all they are, they have no real opinions except those from other people that are using them to say or write about it. Real journalists are a rarity these days.

[davis196]

Check it out and let me know what you guys think!

https://wesdewayne.com/2016/12/02/what-the-italian-referendum-could-mean-for-the-price-of-bitcoin/

I think the Italian referendum means absolutely nothing for bitcoin and the btc price.

I don`t know how much bitcoin is used by the italian people,but this referendum won`t change anything.

[Dahhi]

Italy like so many other European countries is experiencing a drop in GDP and everybody is talking about adopting btc but people are afraid of going in with two feet, most are one-leg-in-one-leg-out.
That's why the price of btc has not soared.