How to Start with Cryptocurrency | Episode 12: Changes in the International Environment Surrounding Cryptocurrency and Price Movements [Fudō Shutarō]

The environment surrounding cryptocurrencies (digital assets) changes at a truly dizzying pace, doesn’t it? This time, Mr. Shutaro Fudoushu is here to teach us about the international environment changes and their impacts. Let's use this as a reference when trading cryptocurrencies.

*This article is a re-edit of a November 2019 issue of FX攻略.com. Please note that the market information stated in the text may differ from the current market.

Shutaro Fudou (Fudōshūtarō) Profile

Foreign exchange lecturer and writer. Has released seminar DVDs and discussion CDs from publishers. Besides giving lectures at financial exchanges, securities exchanges, FX companies, and investment trust providers, he also writes for magazines and serves as a lecturer for FX and stock schools.

Official site:Shutarou Fudō’s “Behind the News Reporting”
twitter:https://twitter.com/syutaro_fudo

Impact of Brexit

With Boris Johnson championing Brexit and aiming to leave the EU by the end of October, if the UK were to exit the EU, there could be significant economic turmoil and losses for both sides, and the exchange rate of the pound and the euro could plummet. One major British outlet predicted that in preparation for a sharp drop in the pound and euro, some Brits might convert their deposits into cryptocurrency.

Since cryptocurrencies have far lower trading volumes than fiat currencies, prices can move on anomalies and speculation. Brexit is a global concern, so if there are reports around this event, there is a strong possibility that famous cryptocurrencies like Bitcoin could be bought in anticipation, thereby potentially pushing prices up.