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Monday, July 3, 2017

Bitcoin Price May Surge As Italian Banks Send Alarm Signals For Europe

Bitcoin Price May Surge As Italian Banks Send Alarm Signals For Europe

After Greece and Cyprus, the Italian peninsula is sending alarming signals while new European banking rules are likely to constrain state action.


On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.


Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks


in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.


Full story at http://bit.ly/2sjceGQ


Source: CoinTelegraph


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