The pound sterling is experiencing heavy turbulence. The dollar is eating it all. Bitcoin is in a deep slumber. What a time to be alive! Things are moving and shaking in the finance world and the general population can’t do much but watch the show. And place their bets. British people recently saw the pound sterling and the euro sink to all-time lows against the dollar. The reaction of a percentage of the population was to buy bitcoin, the charts show. Related Reading: Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike Another important factor is that the pound sterling’s “volatility last week was highly unusual, creating opportunities and price discrepancies.” The currency crisis creates opportunities, and British traders seem to have taken advantage of them. As a reminder, the pound sterling saw “a feisty week in the UK pending proposed and later abandoned tax cuts.” This is all according to Arcane Research’s The Weekly Update. In Bitcoinist’s first report on the situation, our sister site said: “The UK’s interest in Bitcoin (BTC) will expand “quite quickly” as fiat currency instability makes the flagship digital currency asset resemble a stablecoin, analysts said. As one of several this week to highlight BTC’s attractiveness over the pound sterling, strategy adviser at financial firm VanEck Gabor Gurbacs came to that decision. “Because of the instability of the pound,” Gurbacs warned, “the United...
