Spike in price for Bitcoin and Alt Coins most likely on June 8th!

On June 8th it is very possible that we may have a hung parliament in the UK. This would mean that Jeremy Corbyn of the Labour party would be the prime minister. He would then form a minority government or most probably there would be a coalition government formed with the SNP and the Liberal Democrat party. A hung parliament will naturally bring large uncertainty internationally in the short term, as the UK will be in a kind of suspended state until a new government is formed.

Of course, uncertainty in the financial economies of the world is one of the key factors that boosts the Bitcoin price. The British pound going down due to a hung parliament means the Bitcoin price goes up and with this most alt coins happily follow. With the BREXIT negotiations starting shortly after the general election result, the pound may continue to stay low for a while, while the cryptocurrency market continues its impressive growth.

If the UK does indeed end up with a hung parliament then I think ultimately this could be a good thing long term. Jeremy Corbyn has a huge youth following and is anti big greedy corporations which is so refreshing to see from a potential prime minister. People are really starting to come together on this as they are fed up with these big corporations using people basically like slaves!

I believe a great many of us are in the crypto world because we fundamentally believe in bringing more balance and fairness to the individual. A socialist prime minister in Corbyn I feel may fit very well with more mainstream cryptocurrency adoption in the future.

Image sources: Wikipedia, Wikimedia