What happened after UK general election

[Deubberr]

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.
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.
Bitcoin started since 2009 financial crisis, as the citizens losing trust in traditional banks and wanting to find a safe house.
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.
As banks and traditional capital markets regain strength, Bitcoin has begun to falling. But does anyone still remember, during the end of 2017, bitcoin value reach $20,000.
Although Bitcoin can’t prove itself for the value yet, but the continues development of digital currency still can support the idea that bitcoin is still has it value and it can be grown unpredictably to a new high again.

[gentlemand]

The pound got a reprieve as one form of uncertainty was dealt with. There's plenty of uncertainty to come.

I don't believe it has anything to do with BTC. I don't believe a strong stock market is affecting things either. For the entirety of BTC's existence it has only gotten stronger. The time to worry is when it takes a terminal-looking shit. No one's going to hang on to Bitcoin in those circumstances.

[CryptoBry]

So since Bitcoin came into existence partly because of the bad economic situation more than 10 years ago, whenever things are getting hopeful and exciting in many big countries economically and politically it would be Bitcoin that is going to suffer. In other words, Bitcoin can be going well when things are not doing good. And that can be so pathetic to me if this is true. I am a person who does not want to dwell a lot on negativities and problems and if I am supporting something like Bitcoin which is thriving more when times are bad and rough then maybe I should be thinking deep on my involvement.

[Baofeng]

As banks and traditional capital markets regain strength, Bitcoin has begun to falling. But does anyone still remember, during the end of 2017, bitcoin value reach $20,000.
Although Bitcoin can’t prove itself for the value yet, but the continues development of digital currency still can support the idea that bitcoin is still has it value and it can be grown unpredictably to a new high again.

Of course, everyone remembers 2017's bull-run.

However, I don't see any connection with Boris Johnson being re-elected as PM with bitcoin or at least crypto in general. And regardless who is the sitting President or PM of any country, it will be business as usual for crypto, 24x7, 365 days of open and free market trading.

[pakhitheboss]

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.
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.
Bitcoin started since 2009 financial crisis, as the citizens losing trust in traditional banks and wanting to find a safe house.
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.
As banks and traditional capital markets regain strength, Bitcoin has begun to falling. But does anyone still remember, during the end of 2017, bitcoin value reach $20,000.
Although Bitcoin can’t prove itself for the value yet, but the continues development of digital currency still can support the idea that bitcoin is still has it value and it can be grown unpredictably to a new high again.

Another Financial expert Who knows the mood of the crypto market and is able to analyze and predict the price for Bitcoin.

Still, he/she struggle to live in his day to day life because he/she believes in Fiat currency and not Bitcoin.

I am still struggling to understand how the hell the price can dip to $1800 because of Britain's election.

This is one of the dumbest arguments that I have ever read.

[cutesgirl]

Have new hope with new Prime Minister Boris Johnson for United Kingdom have new rule with bitcoin and altcoin as legal currency payment at the future, with before Prime Minister United Kingdom is not allowed using bitcoin as legal currency try to close with bitcoin become large currency payment in United Kingdom, by new Prime Minister could give easy way how to adopt bitcoin and altcoin legal currency payment.

[joinfree]

The results of the United Kingdom's election could have only affected the stocks and exchange rates but i doubt that has any significant impact on bitcoin and the entire crypto market. I have read from several sites where some experienced crypto analysts are predicting another down fall to about $6.8K before we can see any major rise especially towards bitcoin halving.

[ragavancoin]

Maybe it can help to give boost to stoke market or any other services but the crypto market is different. If UK government can give any good news about crypto regulation or adoption of Blockchain then it will great news for all crypto and Blockchain support,  then it will gives boost for crypto market.

[pooya87]

you are trying to connect two things that have nothing to do with each other whatsoever. whatever Pound did is not affecting bitcoin market at all as it is obvious if you look at the market, bitcoin is still in the same sideways struggle that it has been for the past couple of weeks and that has not changed one bit.

also you are forgetting that bitcoin is not like other markets where you can analyze the small changes such as 3-4% like gold market. instead in bitcoin only when there is a big change such as anything bigger than 10% you can analyze it otherwise it is considered normal market fluctuations since the market is still pretty small.

[alyssa85]

The pound got a reprieve as one form of uncertainty was dealt with. There's plenty of uncertainty to come.

I don't believe it has anything to do with BTC. I don't believe a strong stock market is affecting things either. For the entirety of BTC's existence it has only gotten stronger. The time to worry is when it takes a terminal-looking shit. No one's going to hang on to Bitcoin in those circumstances.

I don't think the pound has affected bitcoin either.

Bitcoin is more affected by the dollar than anything else.

I think the drop in bitcoin is down to a bit of profit taking as hedge funds etc close their books before Christmas.

[kryptqnick]

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.

[pakhitheboss]

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.
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.
Bitcoin started since 2009 financial crisis, as the citizens losing trust in traditional banks and wanting to find a safe house.
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.
As banks and traditional capital markets regain strength, Bitcoin has begun to falling. But does anyone still remember, during the end of 2017, bitcoin value reach $20,000.
Although Bitcoin can’t prove itself for the value yet, but the continues development of digital currency still can support the idea that bitcoin is still has it value and it can be grown unpredictably to a new high again.

The stock market is happy and the pound had a good rally but, how long will it stay. Do you think it will be an easy task for the PM of UK to move out of Brexit within six months time?

That's what he has promised!

If he is not able to do it then what happens next?

I do not think it is in anyways affecting the crypto market. It is just a coincidence.

[Kunnu]

I don't think that there is a connection between UK elections and Bitcoin price but as some members said here that it effected stock market which is absolutely true and I agree with them.

[buwaytress]

Another Financial expert Who knows the mood of the crypto market and is able to analyze and predict the price for Bitcoin.

Still, he/she struggle to live in his day to day life because he/she believes in Fiat currency and not Bitcoin.

I am still struggling to understand how the hell the price can dip to $1800 because of Britain's election.

This is one of the dumbest arguments that I have ever read.

Actually I don't think there was any correlation being built between the pound and Bitcoin. Simply pointing out that there is a lack of trust, and there is still a lot of uncertainty affecting even the pound, probably one of the world's oldest and most reliable state-backed currency. Things smoothening out for now, and a general short-term lift in sentiment in banks and stocks are causing pressure on Bitcoin. Things will probably get better, and therefore interest and demand for Bitcoin -- again, short term -- reflected in price.

Bear TAs are the ones pointing to 3k and even 1,8k low. Not really to do with anything else other than TA. Certainly not to do with who sits at 10 Downing Street!

[hugeblack]

If there is no clear certainty that the election results will affect gold, how will it affect Bitcoin?
Even the certainty that occurred as a result of the rise in the British pound will be temporary because there are many difficulties in the future.
An attempt to link political news with Bitcoin price fluctuation is an attempt to find justifications for price volatility that may not be true at all.

[NeuroticFish]

1. The world is bigger than UK. PS. US - China tariffs anyone?
2. The history has shown that Bitcoin price and stocks are decoupled.

This being said, anything can happen. Don't we know that?