Bitcoin Unmoved as Odds Imply Brexit Vote Will Fail – Trustnodes

Bitcoin Unmoved as Odds Imply Brexit Vote Will Fail


Brexit deal vote in Parliament, Oct 2019

Bitcoin has been sort of sidewaying after falling somewhat since the 11th of October following a mini-bull run in the pound.

It stands at the strong support line of $8,000, with it unclear whether it will bounce up to $10,000 or fall below support.

Bitcoin price, Oct 2019
Bitcoin price, Oct 2019

This lack of movement is while there has been some inverse correlation with the pound which is significantly affected by a vote on the Brexit deal that is on knife-edge.

The debate is currently on-goin, with much going on behind the scenes following potential complications by a Letwin amendment that tries to force an extension even if the deal passes.

There’s all sorts of rumors going around, including Boris Johnson, the Prime Minister, potentially ordering conservative MPs to walk out if this amendment passes.

The Prime Minister currently is apparently meeting Northern Ireland’s DUP, which is apparently undecided on whether to vote for this amendment.

While much is going on behind the scenes, an estimated one million people are in front of Parliament marching for Europe and a final say.

The real show however is not happening on the streets, nor on the pound as markets are closed, nor bitcoin which appears to not be moving, but on Betfair.

Brexit deal offs of passing, Oct 2019

That suggests the odds of the deal passing today are just 33%, with it at around 50/50 before this amendment.

The deal itself appears to have the numbers with a small majority ranging between as low as 1 to about 20.

Sir Oliver Letwin himself said he would vote for the deal, with the complications seemingly being more procedural.

Interestingly Libdems and Nigel Farage seem to be on the same side of the debate in being against the deal, albeit for different reasons.

The most pro-European conservative MP however, Kenneth Clarke, has stated he will vote for the deal.

So the numbers seem to be there, but it’s not clear what will happen in parliament in this historic sitting.


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