British economy loses £800 mln. per week due to Brexit

According to data collected by Cindicator, a market intelligence firm that ran an ICO in 2017, at least 62% of analysts polled believe that the upcoming Brexit will have a positive impact on the market for digital assets and cryptocurrencies. 74% of all surveyed parties are considering cryptocurrencies as an addition to their portfolio.

Most analysts also believe that the current deadline for Brexit will pass, but will be extended. According to Cindicator’s Hybrid Intelligence, there’s just a 19.1% chance that the deadline of March 29th. At 22.5%, there’s a slightly higher chance that Britain will exit the EU without an agreement in place. But the most likely scenario, with an 82.75% probability, is that the deadline will merely get an extension.

Readers may be aware that British lawmakers are currently surprised by Prime Minister Theresa May’s essential re-submission of an agreement they had already rejected. The second failure of her proposal led to her resignation. The whole situation has got many in the British media and political circles reconsidering the entire notion.

There is a slight chance that the British government will just override the will of the people and remain a member of the EU. Most analysts think such an effort would fail to get the requisite support from members of parliament.

The economic impacts of Brexit have already been felt for years. Bank of England estimates that nearly 800 million pounds per week have been shed from the economy every week since the decision passed in 2016. During the same period, the British pound (GBP) has lost 5% against the dollar and 10% against the Euro.

62% of Analysts Believe Brexit Will Boost Value of Cryptocurrencies, CCN, Mar 29

Source: FxPro