Bitcoin News

A Bitcoin bull adds $10K to his BTC price prediction a heated EU poll

Max Keiser upped his short term BTC price prediction to a new whole level on what he views as fresh political turmoil in Europe. The results of EU elections have been coming in and show a continent is becoming more politically polarized than ever.

The two main parties in the UK suffered huge losses as the newly-formed Brexit had huge support from leave votes. The other side of the political divide, pro-EU parties, gained the most considerable overall share of the vote.

It led to both sides claiming victory as BTC price increased which accompanied the results of the election led Bitcoin bull Max Keiser to tweet, “If you can escape this mess, you should.”

The results of the elections in the UK reflected a trend across Europe, as the traditional center-right and center-left parties have lost out. A wave of support has risen for both more liberal parties and nationalist.

Uncertainty of politics is historically good for Bitcoin, whenever or wherever there is political uncertainty people will go to Bitcoin as a political store for value.

This has been experienced in Latin America where political turmoil in Venezuela, and economic instability in Argentina have to boost LocalBitcoins volumes.

The current trade war between China and the U.S. have made Bitcoin the winner on a global scale so far. It might be the economic and political fears over the EU elections results like with Brexit in April that has been the factor in Bitcoins price increase.

Keiser recently suggested that Bitcoin price is moving up to $10k, a prediction which seems ever likely to play out. He also pointed out a lack of supply between the current Bitcoin $8738 price might be a reason behind the latest Bitcoin pump.

Do you think European elections had an impact on Keiser’s BTC price prediction?

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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