BTC/ GBP fell more than 3% after Brexit and three cases of Coronavirus in the UK

So the UK has officially left the EU. After many years, love or hate, Brexit eventually happens. 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 rage, and media reports 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 confirmed two coronavirus infections in the UK, the BTC / GBP pair has dropped by more than 3.7% since midnight.

Bitcoin traded near £ 7,274 at midnight and began descending throughout the early morning to as low as £ 7040 on the 15-minute time frame.

BTC GBP brexit 2

BTC GBP 15-minute chart. Source: TradingView

Since most US and UK news agencies report confirmed coronavirus infections, Bitcoin’s price trend has been unstable. BTC/ GBP hit a daily low of £ 7,015 and then recovered to £ 7,126 at the time of writing on the 5-minute time frame.

BTC GBP brexit 3

BTC GBP 5-minute chart. 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.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like