Will Brexit and China continue to influence the Bitcoin price?

Over the past few weeks, uncertainty and various macroeconomic factors have attracted the interest of many investors to Bitcoin.

But will this Bitcoin profit trend continue?

Since January 2016, the Bitcoin profit share price has risen by more than 50%. Most market observers agree on the reasons for the rapid rise in Bitcoin profit prices: on the one hand, the depreciation of the Chinese yuan in China and on the other the BREXIT and the resulting withdrawal of the UK from the EU are mentioned.

It remains to be seen what will happen in the second half of the year and the influence of prices on the digital currencies will certainly remain exciting.

Some economists are sure that another one of China’s shakings from the UK’s BREXIT will drive many investors into safe and independent assets, including Bitcoin, which has often been referred to as a “safe haven” in times of crisis.

Three economists have talked to CoinDesk about the current situation and are trying to find out to what extent BREXIT could also have an impact on the superpower China.

The Risks of Bitcoin profit

Since both England and the European Union as a whole are important Bitcoin profit trading partners for China, economic problems could affect good business relations with China in both cases. If this is a scam, onlinebetrug will prove it.

Sam Rines, economist and portfolio manager at Avalon Avalon Advisors LLC, said in an interview with CoinDesk that a slowdown in demand for Chinese goods “poses an enormous risk to the Chinese economy”.

The domestic market for Chinese goods could also suffer if England triggered a domino effect with Brexit and other countries decided to leave the EU, says Usha Haley of West Virginia University.

In addition to the damage to trade, China’s foreign direct investments could suffer a severe blow, Haley said. Haley has been serving Chinese companies for a decade and advising them on foreign investment.