Brexit pushing bitcoin price higher?

[arnoudk]

I am watching the brexit vote results coming in, and I am watching the bitcoin price. There seems to be a strong correlation between the timing of the vote 'appearing to be Leave' and buying of bitcoins (and also, selling of pounds sterling - the british fiat currency is losing a lot of its value).

I wonder what the effect on the price will be when (and if!) the official result of the brexit vote is also Leave.

[SerutEhtt]

Results are out, don't see any effects on BTC prices.

[iFixBTCmemoryIssues]

Results are out, don't see any effects on BTC prices.

Of course not.

At the moment, Bitcoin is being raped by a bunch of corrupt traders and scamming developers. The price goes up depending on the news they choose to push and crashes down when there are problems (like when their main trading platform Bitfinex suffers an outage), these traders do not have enough cash to fight the selling. Thus why you see the price dive so easily through the floor. I've experienced this all too many times in small-cap markets.

There is no long-term growth in this, nothing of substance. Once you burn and scare enough investors, they're on to something else.

[arnoudk]

It went from 500 euro (approx) to 600 euro (approx).

Of course, this volatility is to be expected in bitcoin and does not have to be related to the brexit vote. But still, the timing of this increase did co-inside with it.

I agree that bitcoin's fundamentals (block size increase) needs to be fixed for an increase to really be possible in a sustainable manner.

[iFixBTCmemoryIssues]

It went from 500 euro (approx) to 600 euro (approx).

Of course, this volatility is to be expected in bitcoin and does not have to be related to the brexit vote. But still, the timing of this increase did co-inside with it.

I agree that bitcoin's fundamentals (block size increase) needs to be fixed for an increase to really be possible in a sustainable manner.

The comparison I use is the hundreds of small-cap companies I have directly been involved in, as well as the large-cap companies I invest in.

I've never experience trading patterns and price increases like this besides when there is malicious trading going on.

Yesterday, I asked my guys on Wallstreet this question, "Do you think Brexit will have any impact on Bitcoin?", they said "God no". From the illusion of Chinese buying up Bitcoin, to the jobs reports increasing Bitcoin, and now the stories of Brexit. It is market manipulation, plain and simple.

As an investor, I've lost confidence in the market because I know there is only one end to this, disaster. It never, ever works out. The last recession is a great example of this.

[arnoudk]

It went from 500 euro (approx) to 600 euro (approx).

Of course, this volatility is to be expected in bitcoin and does not have to be related to the brexit vote. But still, the timing of this increase did co-inside with it.

I agree that bitcoin's fundamentals (block size increase) needs to be fixed for an increase to really be possible in a sustainable manner.

The comparison I use is the hundreds of small-cap companies I have directly been involved in, as well as the large-cap companies I invest in.

I've never experience trading patterns and price increases like this besides when there is malicious trading going on.

Yesterday, I asked my guys on Wallstreet this question, "Do you think Brexit will have any impact on Bitcoin?", they said "God no". From the illusion of Chinese buying up Bitcoin, to the jobs reports increasing Bitcoin, and now the stories of Brexit. It is market manipulation, plain and simple.

As an investor, I've lost confidence in the market because I know there is only one end to this, disaster. It never, ever works out. The last recession is a great example of this.

You don't accept the premise of a fear trade?

[iFixBTCmemoryIssues]

It went from 500 euro (approx) to 600 euro (approx).

Of course, this volatility is to be expected in bitcoin and does not have to be related to the brexit vote. But still, the timing of this increase did co-inside with it.

I agree that bitcoin's fundamentals (block size increase) needs to be fixed for an increase to really be possible in a sustainable manner.

The comparison I use is the hundreds of small-cap companies I have directly been involved in, as well as the large-cap companies I invest in.

I've never experience trading patterns and price increases like this besides when there is malicious trading going on.

Yesterday, I asked my guys on Wallstreet this question, "Do you think Brexit will have any impact on Bitcoin?", they said "God no". From the illusion of Chinese buying up Bitcoin, to the jobs reports increasing Bitcoin, and now the stories of Brexit. It is market manipulation, plain and simple.

As an investor, I've lost confidence in the market because I know there is only one end to this, disaster. It never, ever works out. The last recession is a great example of this.

You don't accept the premise of a fear trade?

Of course, it's what broke the initial wall. This is a stock promoters worst nightmare, a natural disaster such as Bitfinex going down. Everybody goes to sell and it crashes their magic.

You can only build a chart and walk up the price for so long, and then it falls down quickly like what you saw happened. This is pump and dump ethics 101, although those conspiring to this are trying to accomplish the impossible which is a "forever pump". It will end badly.

What angers me the most is the fact that there is a lot of kids involved. These kids have no experience, they are just fascinated by the technology and it would be "cool" to make money as well. Unlike trading stocks where you have to be an adult to open a brokerage account, in Bitcoin - there is no protection against this. In short, you're ripping off kids which is horrible.

[LiteCoinGuy]

i guess that event had an impact on the price but in general there are alot more factors which play a role. bitcoin is such a tiny market and alot happens on the OTC market as well.

[iFixBTCmemoryIssues]

i guess that event had an impact on the price but in general there are alot more factors which play a role. bitcoin is such a tiny market and alot happens on the OTC market as well.

No, you're being scammed.

These same Blockstream Core promoters were saying 24 hours prior, "Brexit won't go through and it will take BTC to the moon". Then, the next trading day - markets tanked, yet BTC climbed.

It was only until traders got the clue on /r/bitcoin did they start questioning Brexit having anything to do with Bitcoin's price. Now, the promoters are letting the price drop and stagnate because it would bring on even more heat than what they have already said and done.

This is not my first rodeo.