Hold on to your Crypto!... Exit polls predict Hung parliament in UK election, Pound plunges.
Foregone conclusion...
It was supposed to be a formality of a snap election. Conservatives leader, Theresa May was attempting to strengthen her majority ahead of Brexit talks, when she called an election 3 years early. And who was going to stop her? Labour leader, Jeremy Corbyn was seen as a lame duck challenger. You'll be lucky if 10% of the electorate could name the UKIP or Lib Dev leaders.
What could possibly go wrong for the Conservatives?
Exit Stage left?
Well the exit polls suggest ALOT has gone wrong for the Tories!
I won't get too carried away as the night is still young. And Exit Polls are known to have been incorrect in the past. However if I wake up tomorrow morning to a hung parliament, expect some major volatility in the markets. A hung parliament has not been priced in.
Crypto bounce?
The Pound plunged against the Euro and Dollar immediately after the Exit Poll.
I've already had a couple of unexpected texts from a non-crypto friend, who is generally well-informed. Word on the grapevine is we could see some interesting action in the cryptocurrency markets tomorrow. This is coming from a guy that has no dealing in cryptocurrencies whatsoever. Watch this space, if parliament is hung, we could be in for a very interesting weekend.
Laat few time the political issues have proven a great entry point for stock market. Brexit, trump elected. Maybe this will be the same for alt coin as well as bitcoin. Happy trading :)
That is very true, also crypto has been going up a lot too.
Hung parliament is now very likely. Pounds about to tank. Hold onto your your steem wallets peeps!!
Thanks for the heads up. Time to exchange a little more fiat for Steem!
Not sure I'm confident enough to gamble fiat on an Exit Poll... However I will be holding off selling crypto until the dust settles.
Your friend hit the nail on the head with this one. I think we might break $3 this weekend. Volume is way up.
Sooner or later someone is going to poke that FIAT bubble
And Andrew Neil from BBC said live on TV, that a coalition might complicate breakfast, when he meant to say brexit. Crazy times....
Help a yank out haha, so no majority in your Parliment will affect the UK and cryptos in what way exactly?
Political uncertainty in the UK generally leads to volatility in the markets and loss of confidence in pound sterling (short-term at least).
Not sure how much it'll affect the US. However I'm hearing that some of that money could flow into crypto... which surprised me.
Is this the elite's plan B to keep us in the EU???
Cunning... I never thought of that.
It's possible, but Theresa May has also said that she would rather go ahead with a bad Brexit rather than no Brexit, so I can see further turmoil for the strength of the pound further down the road yet again, so there will be plenty of room to play with the prices of various crypto coins!
Great article @nanzo-scoop
I had the same thoughts and actually believe this theory/conspiracy
Precious Metals people. That's real money. A steady ship on smooth water.
MARTIN ARMSTRONG states this could be the biggest money making opportunity of a lifetime SHORTING THE POUND!
Well that is exciting! Thanks for the news, sorry for all those still invested solely in fiat currencies.