The UK general election resulted in a landslide victory for the Conservative party yesterday.
The result caused the pound to rally to an 18 months highest.
As global currency markets respond to the resounding result, Bitcoin and gold begin to stutter.
Where's the proof that Bitcoin begins to stutter? I don't see any significant changes over the last couple of weeks, so even if British pound got stronger, it clearly did not affect Bitcoin in any way.
Unfortunately, the renewed of confidence in economies might cause a sustained rally in the stock markets and cause a negative prospective for cryptocurrencies.
Meanwhile, Bitcoin is in the midst falling and dropping in value, and retail interest is getting lesser.
According to experts, Bitcoin might come to a lowest point, with price targets at $3,150 and $1,800.
One currency of one player who is not even among the strongest nowadays does not mean that confidence is renewed worldwide and if something does not happen that affects the world, it's very unlikely to touch Bitcoin. As for experts, people say all sorts of things and there cannot be reasonable price speculation, so these numbers are as good as saying that Bitcoin will be worth $15k in a couple of months.
The results of the UK election is assurance of Great Britain swiftly leave the EU in early 2020. And this will diminish the uncertainty in the European economics and stock markets.
I think that long-term it will bring even more uncertainty to the world because it's a rather destabilizing move.