Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Monday, 13 July 00:58 (GMT -05:00)



Foreign exchange market

Will Brexit Affect Bitcoin?


Some representatives of the international expert community assume that the Brexit is going to push Bitcoin higher, all the way up to new record highs in 2019. Nicolas Gregory, CEO of a blockchain company named CommerceBlock, is one of those experts. Not so long ago, he shared his standpoint with The Independent. He thinks that the Brexit may radically change the position of Bitcoin in the global economy and finances.
 
As you probably know, that the Brexit is coming, which has already made the British Pound drop against other major currencies, including the Euro and the U.S. Dollar. At the same time, Bitcoin skyrocketed from 4000 dollars in June all the way up to 12000 dollars at this point. It's still far away from the all-time high at 20K dollars but experts say that economic and political tensions may push the cryptocurrency all the way up to this level and even higher by 2020.
 
In his interview to THe Independent, Nickolas Gregory said that in 2019, Bitcoin was rediscovered as an amazing asset thanks to many new improvements but the Brexit may trigger an even bigger breakthrough. In particular, he thinks that the hard Brexit scenario, the one without signing a major agreement, will not only result in uncertainy and instability between some of the major currencies, but will also trigger a global identity crisis since it will show how unexpected situations may jeopardize major currencies.
 
Even though the BTC exchange rate is constantly changing, so,e investors think this is a safe-haven asset because of the limited supply. The absence of borders and decentralized infrastructure also make Bitcoin less vulnerable and sensitive about the situation in a specific country or market.
 
Nigel Green, CEO of Vere Group, called Bitcoin an asset avoiding security during times of market uncertainty, thus acquiring the status of a digital gold. The recent report published by Bloomberg seems to confirm that statement. The thing is the correlation between Bitcoin and gold has tightened over the last 3 months. This may well have to do with the trade tensions between the United States and China, NordFX experts say.
 
Long story short, Nicolas Gregory and his supporters belive that in 2020, a more populist and unstable world will only strengthen the status of Bitcoin and other altcoins as safe-haven assets, especially if central banks around the globe start printing money again. If to consider the fact that all cryptocurrencies are limited in volume that can be mined, each time major central banks start printing more fiat money, this brings us closer to a world without fiat money, where cryptocurrencies rule.
 

 

565478568-2019-08-09.jpg

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 15th - 20th. So, this is what those predictions look like:

Publication date: 14 June 10:55 AM

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 AM

NordFX Wins "Business Excellence" Award By WORLDCOB

The World Confederation of Businesses, WORLDCOB, which unites over 3500 members from over 130 countries of the world, has recognized NordFX's achievements by awarding the company with THE BIZZ Business Excellence Award.

Publication date: 04 June 08:09 AM

Revolut Reports 68% Increase In Crypto Trading

According to the data provided by a British financial company named Revolut, the limitations related to COVID-19 have been affecting the amount and cost of cryptocurrency transactions made by international users.

Publication date: 04 June 05:19 AM

Cryptocurrencies and Forex. Early June 2020.

Right before the start of the first trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 1st - 5th. So, this is what those predictions look like:

Publication date: 01 June 08:47 AM

Annual Inflation of XRP Exceeds 20%

The annual inflation of XRP has exceeded 20%, which is 5 times as high as the inflation of BTC. The figures were provided by a research company named Messari. This is the highest annual inflation rate registered among cryptocurrencies with decent market capitalization. Apparently, a major increase in the amount of circulating coins leads to a cheaper coin, which is something that's going on with XRP.

Publication date: 01 June 06:10 AM

Bollinger Bands and Forex Strategies

In this article, we are going to take a closer look at a interesting tech analysis indicator called the Bollinger Bands. Any seasoned trader out there has probably applied this indicator to analysing the price chart in order to make a sound trading decision.
Publication date: 31 May 05:50 AM