Bitcoin reaches close to peak values-min
Press Release

Bitcoin reaches close to peak values in various notable fiat currencies.

-Bitcoin is nearing an all-time high against the British pound (GBP).

Recent data shows Bitcoin approaching record highs against the British pound. In November 2021, BTC neared £51,000 per coin on Coinbase – its highest-ever rate against the pound. Currently, Bitcoin sits around £41,973, meaning it only needs to gain roughly 21% to surpass its all-time high versus the GBP.

This BTC resurgence comes amidst numerous economic struggles in the United Kingdom. Persistently high inflation, stock market doldrums, a strained housing market, and two consecutive quarters of GDP decline signaling recession have battered the pound. Analysts have derided the British economy as an utter joke while the pound sinks to historically low levels against the dollar.

At the same time, UK regulatory policy continues targeting the crypto sector via exchange regulation, user anonymity crackdowns, and bans on derivatives trading – unchanged since 2021. So both economic weakness in Britain coupled with Bitcoin’s innate strength as a store of value are enabling it to gain value against the faltering GBP rapidly. All signs point to new record Bitcoin highs versus the pound arriving soon.

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