RATE Group | No-Deal Brexit Will Reposition Bitcoin in the Global Economy: Analyst
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No-Deal Brexit Will Reposition Bitcoin in the Global Economy: Analyst

09 Aug No-Deal Brexit Will Reposition Bitcoin in the Global Economy: Analyst

Posted at 10:51h in Bitcoin News by

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Some analysts believe that the looming no-deal Brexit will push Bitcoin (BTC) price to an unprecedented breakout and record highs in 2019. 

Nicholas Gregory, CEO of blockchain firm CommerceBlock, even predicts it could fundamentally shift Bitcoin’s place in the global economy, as reported by the Independent, Aug. 9.

Brexit already causing market turmoil

The prospect of a no-deal Brexit has already caused the pound sterling to lose value against other major currencies. Increasingly so, since the appointment of confirmed Brexiteer, Boris Johnson, as U.K. Prime Minister. Johnson has vowed that the United Kingdom will “do or die” leave the European Union on Oct. 31, 2019.

According to Gregory:

“Not only will a no-deal departure from the EU create turmoil and volatility across two major fiat currencies, it will also trigger an identity crisis for the global system as the contingency and vulnerability of major global fiat currencies is laid bare.”

This, some say, will preempt a…

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