Bitcoin Price Tripled in Last Year

bitcoin price trippled in last year

A collection of Bitcoins stand in this arranged photograph in Danbury, U.K., on Thursday, Dec. 10, 2015. Bitcoin, the digital currency, climbed on Wednesday to hit its highest levels since early November, amid fresh speculation that the identity of Satoshi Nakamoto — the virtual currency’s creator — may have finally been revealed. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

Bitcoin Price Tripled in Last One Year

A collection of Bitcoins stand in this arranged photograph in Danbury, U.K., on Thursday, Dec. 10, 2015. Bitcoin, the digital currency, climbed on Wednesday to hit its highest levels since early November, amid fresh speculation that the identity of Satoshi Nakamoto — the virtual currency’s creator — may have finally been revealed. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

In April of 2016, Bitcoin price averaged at around $420 on most major Bitcoin exchange markets. Since then, over a period of 12 months, Bitcoin price tripled, increasing from $420 to $1257.

As previously reported, Bitcoin price is nearing its all-time high price set at $1,277, primarily due to the explosive growth of the Japanese Bitcoin industry.

Analysts expect Bitcoin price to increase consistently in the mid-term if key markets such as Japan and the US sustain their growth and if relatively small markets like India experience a massive change in regulatory frameworks for Bitcoin trading and usage.

Two key factors: India and Japan

For years, India was considered to be one of the more important markets for Bitcoin to penetrate because of the country’s poor banking system, declining financial platform and weak infrastructure. Today, local analysts and researchers note that 40 percent of Indian population remains unbanked.

The vast majority of households and individuals in India do not rely on banks or established financial institutions to manage their money for a few reasons.

Recently, the demonetization of 500 and 1,000 bank notes initiated by the Indian government led to a nationwide financial crisis, as banks and ATMs ran out of cash to dispense. Both the banked and unbanked populations of India have been struggling to obtain cash to fund day-to-day operations and basic necessities ever since.

Moreover, research and professional services firms such as PwC revealed that by October of 2015, 233 mln Indians had no access to bank accounts. According to Times of India, a prominent local publication, a UN report further revealed that 43 percent of adults in India made no deposits or withdrawals in banks.

“I have nearly Rs 20,000 saved up from the last so many years. I never knew how to do bank work, so I never had an account. I’ve had no need for one, and now I am stuck with all the cash but can’t use it to buy my supplies. I have some money saved but all in cash at home, as I did not know how to deposit in the bank,” said a full-time professional who resides in India.

Over the past few years, major Bitcoin exchanges and service providers in India were not able to demonstrate an exponential rate of growth in terms of user base and daily trading volume. It was only by early 2016 that exchanges such as Zebpay and Unocoin began to see a spike in their user base and trading volumes.

One key factor that would allow the Indian Bitcoin industry to grow at a rapid rate similar to China, South Korea and Japan is the legalization of Bitcoin as legal tender and currency. The central banks of the Philippines and Japan most recently legalized Bitcoin as legal tender, to help their local industries to grow and allow the general consumer base to utilize bitcoin.

For Bitcoin to achieve mainstream adoption in India, a legalization of the digital currency by local authorities is necessary. If Bitcoin becomes legalized by the end of May as many predicts, and millions of new users from India emerge as a result, Bitcoin price will likely surge in the mid-term. Therefore, for the mid-term, the performance of the Japanese, US and Indian markets should be considered as reasons to hold onto Bitcoin as an investment.

David Ogden
Entrepreneur

 

Source : Cointelegraph

David https://markethive.com/david-ogden

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In the war on cash, you’ll need safer strategies for your money

For the moment, we are in the calm of the proverbial eye of the largest hurricane ever,and it is the calm before the  inescapable storm that will be more financially destructive than the 2004 Indian Ocean tsunami. If you fail to understand what money is vs what currency is, you remain at risk! 

 Most people are rational and respond to adverse financial incentives (like negative interest rates) by doing whatever they can to preserve their capital by moving their money to the safest possible banks plus learning to  'Be Your OWN BANK 2.0

 

BITCOIN IS THE BIGGEST IDEA SINCE THE INTERNET!

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

Digital currencies are part of a worldwide revolution !

People across the planet are starting to transact using cryptocurrencies and the remarkable blockchain technology! Since inception, Bitcoin has outperformed all stock indices, real estate holdings, hedge fund returns, and collectable cars! It is becoming one of the ultimate safe havens because it bypasses the corrupt global banking system. 

Now is the time to become truly educated on the future of money and financial technology!

 

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" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

For the moment, we are in the calm of the proverbial eye of the largest hurricane ever,and it is the calm before the  inescapable storm that will be more financially destructive than the 2004 Indian Ocean tsunami. If you fail to understand what money is vs what currency is, you remain at risk! 

 Most people are rational and respond to adverse financial incentives (like negative interest rates) by doing whatever they can to preserve their capital by moving their money to the safest possible banks plus learning to  'Be Their OWN BANK 2.0

 

ACCESS 'BE YOUR OWN BANK 2.0' GROUP

Watch Video & Register Here

 – SERVICES INSIDE –

FINANCIAL FREE TRAINING

FREE ACCOUNTS & WALLETS 2.0

Goldmoney || Infinity Economics

FREE BITCOINS & DONATE For A Cause

AUTO CRYPTO TRADING Services & Softwares

WGC We Go Crypto || TCC Trade Coin Club 

ICO (Initial Coin Offering) Investments & CrowdSales 

 

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

What’s keeping Cryptocurrencies from mass adoption? – Part 2

 

What’s keeping Cryptocurrencies from mass adoption? – Part 2

Official Local Exchanges

Having to look other users in the eye can make a world of difference. Face-to-face exchanges at trusted locations means that the sale of a coin can be more easily limited, and this can act as a throttle to gauge demand. People on the “front lines,” seeing the real demand for the coin in person, can then vote to increase the price. Having stable locations to exchange the currency also creates consistency. It removes the guessing game of wondering where you can buy and sell your coin.

The advantages are not just purely economic, either. Cryptocurrencies don’t exactly have the best reputation thanks to their penchant for attracting unscrupulous people. Unethical or illegal businesses will tend to be voted out of cooperative networks with face-to-face exchanges, however, which can go a long way towards legitimizing the currency. It would still be possible to run such enterprises of course, but they would never be part of the co-op.

Local Exchange Dominance

This kind of approach can only work if there are dramatically more local exchanges than online exchanges. It would mean that the local exchanges would dictate the pricing of the currency.

Marketing Early Can Be Disastrous

Marketing is a powerful force, and as such it needs to be handled with care. On the one hand, founders naturally want to attract investment early on. This will raise the price of the coin and help pay for infrastructure, as well as boost the growth of the coin. On the other hand, historically the earliest investors in cryptocurrency have been extremely low quality—they are the speculators who doom the currency in the long run and scare away mainstream users.

With speculation, capital infusion is needed to keep the currency stable, which can be a significant task. Take Bitcoin for instance: With a market cap of roughly $20 billion, it would need a huge amount of capital to have a stable floor.

low and Steady Wins the Race

Cryptocurrencies are still in their infancy, and it’s hard to tell where the path for most of the major currencies is headed. What is the “finish line” that they are aiming for? What will the end game be?

Most cryptocurrencies have little direction besides the whims of the market, so there’s no telling where they will end up. However, there are a handful of interesting coins that have invested in strategies that nudge them in a specific direction.

The Central App Coin Method

This is a strategy that is centered around creating value with unique products and services that are associated with the currency. In this way, you could say that the currency is backed by something that people actually want.

For example, the MaidSafe network incentivizes users to provide something of value to the network (storage space), and offers the use of apps and services in return for coins. This naturally leads to better cooperation. People want to create value and channel their efforts towards the growth of the currency that they have in common.

The Setup and Switch Metho

Similar to the central app strategy, this method establishes a user base first, and then introduces the currency. Bitshares and its array of associated startups is a good example of this. Several networks with varying currencies—Steemit and their STEEM currency, Peerplays and their tokens, for instance—slowly built their user base and value exchange system, and now they plan to adopt a central currency with Bitshares. This allows them to create a stable base first before pooling their resources.

The Grassroots Movement

Finally, the best way for a currency to create that all-important foundation of true users is through bootstrapping. Just like a business startup, a currency like this would need a user base that believed in a common mission. It would need everyone in the system to be able to see the inherent value of the coin, and to understand that it could be worth much more than the value it is traded for in its early stages.

An example of one of these grassroots efforts is FairCoin. It’s a currency established and led by FairCoop, whose strategy is to build an ecosystem where businesses cooperate to give users maximum value. It is a currency built from the ground up to incentivize the long-term interests of users instead of their short-term greed—not just because it’s the right thing to do, but because it makes sense.

FairCoin focused from the beginning on building infrastructure for everyday users. Because of the strong relationships among members of the co-op, they can have thousands of ATM’s, debit cards, and exchanges that make mass adoption much easier.

An approach like this allows the currency to slowly build itself in the background without the need for a spotlight and the barrage of speculators that come with it. This offers the huge advantage of stability from the very beginning, though it does pose the problem that FairCoin has to bootstrap with less capital than most coins. Unlike other cryptocurrencies, they can’t rely on CoinMarketCap to sing their praises by displaying artificially rising prices (the effects of speculation).

In other words, FairCoin traded the excitement of volatility and greed for a quiet, long-term stability. The only problem is that people might not notice! Drama catches the human eye, after all.

Hard Forks

Let’s take a look at the hard fork that looms in the horizon for Bitcoin. As if things weren’t complicated enough, now there could be two competing chains for the currency. There are already many technical barriers to Bitcoin’s adoption among mainstream users, and this is yet another one. This makes the price even more uncertain, and uncertainty is like poison for a currency.

On the other hand, if you have a large community and a co-op on top of an immutable blockchain, then a hard fork is extremely unlikely—and unnecessary. Cryptocurrencies like MaidSafe, Bitshares, and FairCoin all represent solid communities that are incentivized to cooperate instead of speculate. This means that the coin can be worth more than its market price; it has a high inherent value within the system itself.

This makes it so that users have very little reason to defect from the existing community. A hard fork would mean giving up many benefits of the co-op, so people stay loyal to the original vision of the currency. When something deeper than just greed ties a community, hard forks don’t occur as often.

Conclusion

Stable prices don’t just happen by accident. They are not a miracle of the market—they require a carefully constructed foundation. A stable currency needs a stable ecosystem first.

While it’s tempting to market the currency too soon because capital injection can do a lot to raise prices in those critical early periods, it’s better to wait. Advertising is like opening up Pandora’s box and inviting the world to look inside. Some of those users will be interested in the actual currency, but others will be undesirable speculators that just leech off the system. For a currency to be stable, it needs to be used by “the 99%,” not just a handful of investors.

A currency needs to grow with the people, not past them. Look at the state of Bitcoin and its inflated prices. The everyday person can no longer either mine the coin or expect to use the coin in everyday transactions without high fees or risk. It has been given up to the speculators.

With a truly stable currency, on the other hand, you can have currency conversion, remittance, ATM withdrawals, and other financial services with lower fees than fiat systems. In other words, it can be used as intended—as money. This is what will ultimately attract a mainstream audience and will actually incentivize them to make the switch to cryptocurrency.

David Ogden
Entrepreneur

David https://markethive.com/david-ogden

5 Reasons Why The Smart Investors Are Investing In Cryptocurrency

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" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

For the moment, we are in the calm of the proverbial eye of the largest hurricane ever,and it is the calm before the  inescapable storm that will be more financially destructive than the 2004 Indian Ocean tsunami. If you fail to understand what money is vs what currency is, you remain at risk! 

 Most people are rational and respond to adverse financial incentives (like negative interest rates) by doing whatever they can to preserve their capital by moving their money to the safest possible banks plus learning to  'Be Their OWN BANK 2.0

 

BE YOUR OWN BANK 2.0 

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It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

What’s keeping cryptocurrencies from mass adoption?

What is keeping cryptocurrency from mass adoption

What’s keeping cryptocurrencies from mass adoption?

 

Speculators flocked to Bitcoin and many of the alt-coins in hopes of getting in early and making a big exit, but everyday users haven’t warmed to cryptocurrencies.

There are many reasons why, but one of the largest barriers to mainstream adoption is the price volatility of cryptocurrencies.

So the question is, why do the prices change so much in the first place? It comes down to supply and demand: Most cryptocurrencies have only a fixed total supply, and yet demand for the coins is uncertain and constantly fluctuating thanks to speculation.

Of course, it’s easy enough to talk about the problem — coming up with a solution is quite another matter.

Why is Stability So Important?

The need for stability is not unique to cryptocurrency. Any currency needs to be stable in order to be used as a trusted medium of exchange. The more that prices rise and fall, the more ordinary people will shy away from using the coins for everyday transactions.

Whether they hoard the coins in the hope that prices will rise sharply soon, or they avoid using them altogether for fear that they will lose all of their value, people are not yet accustomed to seeing cryptocurrency as real money.

Worse, the unpredictability of prices wreaks havoc on regular money services, like remittance, currency conversion, and the use of ATMs. In order to use cryptocurrencies, businesses have to hedge their risks by charging exorbitant fees.

Bitcoin ATMs can charge up to 15% just to convert to fiat currency. This totally defeats the original purpose of cryptocurrencies, which was to offer a cheaper and more flexible alternative to other payment methods. With no advantage over government-printed money, why would the average person use them?

Patience is a Virtue

Price volatility has plagued Bitcoin from nearly the beginning. With what we have learned over the better part of a decade, why have cryptocurrencies still not solved this problem of fluctuating prices?

Human nature gets in the way, as it tends to do. It is difficult to stabilize prices in a world where people would rather play the market and get instant gratification by re-selling their coins for as high a price as possible. Without careful planning from the very onset of a cryptocurrency’s existence, it’s hard to recover from the effects of speculation.

Phase 1: Building a Stable Ecosystem

When building a cryptocurrency from scratch, you first need a solid foundation. From this foundation, the currency can grow and self-correct as it develops.

Gauging Demand

The first piece of the puzzle is being able to reliably predict demand. Uncertainty around demand is the main cause of price fluctuation, as every user’s intentions are a mystery to every other user. Having a way to gauge real demand for a coin would go a long way in fixing this problem.

The issue with predicting demand, though, is the existence of speculators creating artificial demand. This is the core of the problem: With so much speculation, the price for the cryptocurrency will not reflect its actual usage and demand. It simply becomes a bubble that is constantly on the verge of bursting, and no one wants to risk their hard-earned money on that.

Traditionally, the solution to the problem of stability was to have a central bank. The government could then alter the money supply at will, for example by causing inflation. Cryptocurrencies are by definition decentralized — that is part of their advantage — and without a central bank they need an entirely new approach when it comes to squashing volatility. They need to do this without compromising the freedom of the users and without resorting to inflation.

Cooperation Over Competition: A Decentralized Community

“United we stand, divided we fall.”

What if there was a currency that encouraged people to cooperate? What if people were incentivized by a spirit of growth, rather than of greed? Under the ideal model, a network of cooperative businesses and services would coordinate with each other as a single unit. The coin would be shaped democratically by this co-op (shaped not controlled). Every user would have incentives to help the network grow as a whole, and the use of a blockchain would help make the process fair.

Instead of rampant online speculation, users would visit local exchanges to buy and sell the currency. The community as a whole would vote on when to increase the coin’s price, which would keep things democratic and guard against sharp spikes.

David Ogden
Entrepreneur

 

Neil Haran
CONTRIBUTOR

David https://markethive.com/david-ogden

Money Out of Wall-Street: Cryptocurrencies Special – Dave Scotese

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Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

For the moment, we are in the calm of the proverbial eye of the largest hurricane ever,and it is the calm before the  inescapable storm that will be more financially destructive than the 2004 Indian Ocean tsunami. If you fail to understand what money is vs what currency is, you remain at risk! 

 Most people are rational and respond to adverse financial incentives (like negative interest rates) by doing whatever they can to preserve their capital by moving their money to the safest possible banks plus  'Being Their OWN BANK 2.0using the latest blockchain technology financial applications for precious metals and cryptocurrencies. 

Discover How To Inside

Watch Video 

 

 

AUTO CRYPTO TRADING SERVICES

WGC We Go Crypto || TCC Trade Coin Club 

EARN FREE BITCOINS & DONATE FOR A CAUSE

Click Here – Get Your Welcome GIFT – Follow Steps

 

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

Cryptocurrencies Surge in Value – Threefold Increase since last year

Cryptocurrencies Surge in Value - Threefold Increase since last year

Cryptocurrencies Surge in Value – Threefold Increase since last year

The combined market value of bitcoin and other crypto-currencies is now $27bn, representing a threefold increase since the start of 2016, with bitcoin miners having earned more than $2bn since trading in the electronic currency began in 2009.

These are some of the findings of a new report the Global cryptocurrency benchmarking study by Dr Garrick Hileman and Michel Rauchs of the University of Cambridge.

The authors note that ten years after the publication of a white paper by Satoshi Nakamoto which led to the creation of bitcoin, the crypto-currency markets now have approximately the same valuation as AirBnB, with the value of individual coins, the total number of users and the number of crypto-currencies in use all rising fast.

The prices of bitcoin and "altcoins" such as dash, monero and ether have all rocketed in price in the last 18 months, more than doubling in the case of bitcoin and with monero worth 16 times more than at the start of 2016.

At the same time, the number of daily bitcoin transactions has risen from 201,595 in Q1 2016 to 286,419 a year later, with the ether being traded more than twice as much reaching 47,792 daily transactions in January-February 2017.

With the future direction of bitcoin uncertain due to arguments about the best way to increase its scalability without centralising power in the hands of a few giant "miners" (generally companies operating a large number of powerful servers that verify transactions on the bitcoin blockchain), alternative currencies such as the ether have risen in importance as a hedge for investors.

The alternative approaches threaten to split bitcoin in two, forking the blockchain. This could create difficulties as there would be two different versions of bitcoin in circulation, and other coins and services built on the bitcoin blockchain and currency exchanges would have to decide which way to go. However, despite the feuding, the price of bitcoin against the US dollar is close to an all-time high.

The transaction fees that miners can earn have risen sharply as the number of transactions, and hence the size of the blockchain, has grown, with users opting to pay more for a quicker transaction time. This has left the big miners with a lot of power and a vested interest in the way bitcoin evolves.

The report estimates the current number of unique actve users of crypto-currency wallets be between 2.9 million and 5.8 million, with between 5.8 million and 11.5 million wallets in active use. The industry is thought to employ around 2,000 people worldwide.

David Ogden
Entrepreneur

 

John Leonard

Author

David https://markethive.com/david-ogden

Why Bitcoin-Blockchain Is Changing the World

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PROTECT & PROFIT 

Debt Collapse & Cashless Society

Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

For the moment, we are in the calm of the proverbial eye of the largest hurricane ever,and it is the calm before the  inescapable storm that will be more financially destructive than the 2004 Indian Ocean tsunami. If you fail to understand what money is vs what currency is, you remain at risk! 

 Most people are rational and respond to adverse financial incentives (like negative interest rates) by doing whatever they can to preserve their capital by moving their money to the safest possible banks plus  'Being Their OWN BANK 2.0using the latest blockchain technology financial applications for precious metals and cryptocurrencies. 

Discover How To Inside

Watch Video 

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

 

To your success,

DrJADelgado

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Bitcoin Rises Footsie Falls as UK Heads to Snap Election

Bitcoin Rises Footsie Falls-as UK Heads to Snap Election

Bitcoin Rises, Footsie Falls, as UK Heads to Snap Election

 

Theresa May, the British unelected current Prime Minister, has surprised and at the same time excited everyone by all the sudden calling a snap election in what may be an historical two months of campaigning.

“It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May said according to Reuters.

No one was expecting the British election as May has univocally stated there will not be one, but the surprise u-turn sent FTSE down some 2.46%, Pound is up to months high and so is Bitcoin, rising slightly around 1.50%.

The outcome of the election is currently seen as somewhat certain because the Labour leader of the opposition, Jeremy Corbyn, is generally seen as unelectable. Moreover, Theresa May is 20 points ahead of Labour, but will there be a twist?

All eyes are now on Tim Farron, the leader of the Liberal Democrats. The party rose to power in a coalition in 2010 with the conservatives. Voters, however, severely punished them in 2015 because they rose student fees when they said they would not.

However, now the times are very different. Britain has as good as no official opposition. The only real choice is the Liberal Democrats, a coalition of social liberals and classic liberals. They usually strongly appeal to students, while also attracting libertarian-leaning voters.

In this election, their main selling point would probably be their pro-EU stance. Jeremy Corbyn has been accused of lackluster campaigning for remaining in the EU prior to the referendum. Some speculate he is secretly in favor of Brexit.

The only voice, therefore, for some 48% of voters who wished to remain, may be Tim Farron. It is far too early to say what exactly he will promise, but if the party accepts the referendum’s results and campaigns on a soft-brexit, it may actually have a real chance of providing a third political earthquake in just months.

The election may then be given some meaning, instead of being just a coronation, as the public debates whether they wish to hard or soft Brexit in potentially the biggest decision this nation has faced in almost a century.

We should, however, expect Tim Farron to botch it all and say we should have a second referendum, something which would probably take them off the election map and relegate them to a joke party.

Britain has voted to leave. The will of the people must be upheld. The question now is how, not if. The nation demands an opposition. Who wants the position is now the question everyone is asking.

David Ogden
Entreprenuer

David https://markethive.com/david-ogden