Brexit could be a big opportunity for Bitcoin

Financial turmoil has been brewing for several years now. The United Kingdom will exit the European Union once and for all. A fair bit of market volatility appears to be the logical outcome of this major shake-up. Financial markets may very well face some temporary setbacks, at least in both of the affected regions.

However, in contrary to the popular belief, the looming Brexit is being predicted to have a positive impact on cryptocurrencies in the UK. At least according to Mike Romanov, the chief executive of DSX, who envisions a rather bright future for Bitcoin as a consequence.

Digital assets, though, may fare a lot better, and Romanov certainly believes so. By removing itself from EU, he argues that Britain can usher in a new financial era in the region, which ultimately, can have a positive effect on Bitcoin.

Romanov argues that Bitcoin tends to thrive during financial turmoil and can achieve a dominant position in the years to come as a consequence. Whilst the EU is working on a few regulatory guidelines, it seems that a new set of rules will need to be developed in the UK. This is all going to take time, of course, which in turn brings a longer period of uncertainty. The knock-on being that this may be to the benefit of crypto.

If things go all well for cryptocurrencies, Bitcoin stands in line to get a healthy boost. Many crypto firms are showing a keen interest in exploring the UK market, such as Coinbase, which recently became a part of the UK’s Faster Payments scheme to introduce digital currencies to the masses.

Gaining more traction remains very difficult, despite the global and government-free nature of this payment method. The Brexit can set things in motion, although things may turn out for the worse at the same time. Political events like these will cause some big shifts, although the impact on Bitcoin remains unclear.