So the UK has officially left the EU. After many years, love or hate, Brexit finally happened. This event is expected to cause a major change in the global economy and will have unpredictable consequences. So how did Bitcoin respond to this event?
Bitcoin price has dropped amid the coronavirus raging and media today reported that patients in the UK and Russia tested positive for the virus. The downtrend has been followed by major cryptocurrencies.
In a day marking the separation between the United Kingdom and the European Union and confirm In two cases of coronavirus infection in the UK, the BTC / GBP pair has dropped by more than 3.7% since midnight.
On the 15-minute time frame, Bitcoin traded near £ 7,274 in the middle of the night and began descending throughout the early morning to as low as £ 7040.
BTC BTC chart of 15 minutes. Source: TradingView
Since most US and UK news agencies report confirming coronavirus infections, Bitcoin's price trend has been unstable. Digital assets hit a daily low of 7,015 pounds and then recovered to £ 7,126 at the time of writing.
BTC BTC chart of 5 minutes. Source: TradingView
Bitcoin price has dropped after coronavirus was confirmed in the US and a similar effect seems to be happening with BTC / GBP when the virus is tending to threaten global health.
Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to AZCoin News
Crypto loans are only from 5.9% annual interest rate – you can use the money effectively without selling coins. Earn up to 8% interest per year with stablecoin, USD, EUR & GBP with insurance up to 100 million.