Economic sanctions against Russia Bitcoin (BTC) and to cryptocurrencies had directed.
According to the news of The Block, after Russia, UK citizens now turned to cryptocurrencies due to the financial problems in the country.
The tax cuts announced last September caused financial difficulties in the country. This is against the British pound. crypto- money resulted in an increase in trade.
Cryptocurrency investors turned to cryptocurrencies such as Ethereum, especially BTC, against the British pound.
This financial turmoil caused sterling and British assets to plummet.
British assets fell again today after Bank of England (BOE) Governor Andrew Bailey announced that support to the funds will end in three days after the crisis in UK pension funds.
This turmoil in the country is also against the British currency sterling. Bitcoin and Ethereum (ETH) resulted in a significant increase in trade.
Especially in the Bitfinex exchange, these volume increases were seen more prominently.
Some experts say the data is due to fluctuations in the sterling of UK investors. crypto- He claims that although he shows that he is oriented towards money, the situation may not be as it seems.
That’s because Larry Cermak, He Block’s Vice President of Research “When the pound is volatile, some traders can make more money by arbitraging against BTC/USD pairs.
This does not mean that investors are buying BTC or ETH and leaving sterling.” said.
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