News that Catalonia has won "right to statehood" sent the price of Bitcoin at $4,400 on Sunday evening, close to 45% above the recent low.
It’s now official, 90% of Catalans who participated in Sunday’s referendum voted for independence.
That sounds like a clear victory for Catalonia’s independence movement.
The trouble is that only 42.3% of Catalonia’s participated in the referendum, which Spain’s constitutional court has declared illegal. And scores of people were injured in clashes with police.
| Coin | % 24H | % 7d |
| Bitcoin (BTC) | 1.73 | 18.41 |
| Ethereum (ETH) | -0.02 | 5.10 |
| Litecoin (LTC) | 0.26 | 13.76 |
*As of Sunday October 1, 2017, 8.45pm
Source: Coinranking.com
While it is still unclear which way things will go next, one thing is clear, uncertainty is to spread over Spain, EU and the global economy.
That’s music in the ears of Bitcoin traders who pushed the digital currency up close to $150 dollars on Sunday evening, as clashes between pro-independence demonstrators and Spanish police broke off.
Bitcoin prices have stayed firmly above $4ooo recently, as traders have realized that the digital currency can survive and thrive without China. And government regulation is positive, not negative, for the future of Bitcoin and other major cryptocurrencies. It adds credibility to the market, while limiting the supply of new coin offerings.
Meanwhile, the digital currency has emerged as the new “gold,” a hedge against growing global uncertainty, as it was discussed in a previous piece here.
