There Is A Chemistry Between Bitcoin And Brexit

Brexit series for FT.

The world is a strange thing, it moves around and around and despite moving around it never repeats the same path, it has gone through before. There are certain changes going on in every sector in every aspect. One of the major cases that have worldwide attention and all eyes ley on is Brexit. The EU UK relationship has been an issue for quite a long time now. There have been talks about the benefits as well as negative outcomes of the UK leaving the EU. Well, for now, some of the predictions have come true, while others have not. It is just a matter of time to see all of them, though some of the steps and measures have to be considered from both sides in order to avoid further struggles and unsustainability.

The other still very trendy subject is Bitcoin and Bitcoin currency. It is especially interesting within the Brexit topic, as there might be some radical changes in the relationship between those two parts. What we know for sure is that there has been a radical drop in Bitcoin value due to the Brexit, though what we also know is that some of the other currencies are taking the stage.

There Is No Case Without Solution

While despite the changes in the UK and some ongoing regulations to be taking place, the Bitcoin remains to be very trendy trading wise in the country. The Financial Conduct Authority (FCA) in the United Kingdom has a pro-Bitcoin stance and wants the regulatory environment to be very supportive of the digital currency. There is chemistry for sure. Though, Bitcoin is under certain tax regulations in the UK. For that stance trading Bitcoin automatically with trading software like Bitcoin Era can be a perfect solution for the existing regulations and for the improvement of a general sense in supporting the digital currency.

While further elaborating on online trading technologies, there can be a fully automatic robot for the bitcoin market. This bot allegedly conducts investment research by analyzing the bitcoin market’s huge data for tradable insights. This already sounds very user-friendly which is very important for the trading environment in terms of digital currency. Trading robots such as Bitcoin Era say that they apply top technologies to ensure high accuracy and trading speed as well as security.

Moreover, with the existing taxation regulations, it is very important for benefits to be a lot higher in order to keep the value and profit despite the taxes. In these terms, bitcoin trading AI claims to generate profits up to $5k per day from a deposit below $1k. The possibility is very high and very real if taking the leverage provided by the brokers in partnership into consideration.

The solution of using fully automatic trading AI for the UK sounds to be efficient as that might as well increase the value of the Bitcoin again.

What’s Going On?

In order to understand the existing situation in all colors, let us provide you with the ongoing situation that concerns the UK leaving the EU and consequently some of the changes taking part within as well as outside the country in terms of crypto and bitcoin sector.

Bitcoin, cryptocurrency and blockchain startups fared up onto the London Financial technology scene over the last few years, but now as already mentioned before, due to a combination of potential thoughts new regulations and the UK’s exit from the European Union, things could be about to take the wrong turn for the crypto sector.

Several of the official authorities have made their comments covering the subject or expressed their concerns. There has been a steering country towards the so-called no-deal Brexit scenario, which potentially is causing chaos – though maybe still boosting the bitcoin price. The UK’s prime minister Boris Johnson has definitely clashed with the UK’s parliament over the possibility of a no-deal Brexit, still fueling business uncertainty. The main question remains, how the technology startups and companies will be affected by the Brexit.

As some of the companies already started moving from the UK to the EU in preparation for Brexit, according to several sources from earlier this year, there are other companies and startups who might be struggling to justify a London office without an easy route into Europe. This scenario will be demonstrated if the UK eventually leaves the Eu trading block without a deal, consequently, financial technology companies will be losing access to the block’s single market. For such a country as the UK, it does not seem to be a perfect perspective, especially while going strong economically for such a long period of time.

“The uncertainty around Brexit has already taken a major toll, particularly for non-U.K. companies doing business in the U.K.,” stated Felix Shipkevich, a New York-based lawyer specializing in digital currency and financial technology.

“If fintech businesses in the U.K. can’t access international individuals working in areas such as machine learning, artificial intelligence, and blockchain as easily after Brexit, this could cause a contraction in the sector because currently, up to a fifth of the skills used by the fintech sector in the U.K. have come from the EU,” Sarah Hall, senior fellow at the U.K. in a Changing Europe research group.

The Value

Potential investors in the UK have been warned about no intrinsic value of bitcoin and cryptocurrencies. Some of them taking caution. Hopefully, this is not a caution as a signal for the country to be moving towards a bitcoin ban. Though, technically it can not be banned, as something that is not produced by the specific person can not be banned. In this case, the perfect scenario can be fully automated action that can not be regulated and fined.

While saying that there is a chemistry between the UK and Cryptos one promising crypto startup has already run into difficulties, according to reports.

Nodal Labs, a blockchain-powered freelance marketplace, has missed payments to staff with a boardroom battle underway for control of the floundering crypto company, according to AltFi, alternative finance, and fintech news website.

The value of the Bitcoin is supposed to increase and go back to its initial state, once the situation is more sustainable and businesses can figure out the certainty. Therefore, no-deal Brexit should be a big deal for the technology-focused companies and such important figures in the market as cryptocurrencies.