RATE Group | Bitcoin Eyes Gains as Pound Drops on Brexit Uncertainty
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Bitcoin Eyes Gains as Pound Drops on Brexit Uncertainty

14 Oct Bitcoin Eyes Gains as Pound Drops on Brexit Uncertainty

Posted at 13:19h in Bitcoin News by

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Bitcoin was inching higher on Monday in the UK markets as Pound gave up some part of its last week’s sharp gains.

bitcoin, pound, brexit, boris johnson

Bitcoin shows upside sentiment as the Pound drops to 1-month low | Image credits: TradingView.com

The cryptocurrency surged by 0.76 percent against the sterling as of 1005 UTC to trade at £6,627.90. The minor surge came after the pound dropped by 0.68 percent against the US dollar. The sum of all negativities lied with the statements issued by the European Union on Brexit. Michel Barnier, EU’s chief Brexit negotiator, told press on Sunday that UK president Boris Johnson’s plans to divorce Europe by October 31 while avoiding a hard border with Ireland were too complicated.

The statement impacted the UK market as it opened on Monday. With sterling down, UK stocks also gave some part of its last week’s gains. That was unusual for the benchmark FTSE 100, which typically rises when pound slides. Today, that was not the case. FTSE 100 and sterling both fell in tandem,…

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