Uncertainty in the world of politics could hinder Bitcoin

With Britain leaving the EU in just over two months and a deal yet to be ratified by the British parliament, 2019 isn’t looking likely to get off to the brightest of starts. This is just one issue that needs resolving in the tricky world of 2019 politics.

Coupled with this, there are questions surrounding the economies of many countries. Although these questions have been around for many years, they have certainly picked up in recent months. The question still remains as to how Bitcoin would react to economic woes from Western countries. Will the money dry up as people need funds, or will the money pour in as they look toward a safe haven? This can be extended to politics as well. If worldwide politics becomes even more unstable, will people view Bitcoin as a safe investment in turmoil?

Only yesterday, we saw Apple’s shares drop dramatically as they revised their profit predictions. All this economic uncertainty inevitably leads to political uncertainty, as normal people start to become fearful.

Despite Bitcoin celebrating its tenth birthday this week, the technology is still relatively in its infancy, much like the early days of the internet. On one side, whilst the price could be affected either positively or negatively from political and economic upheaval, the actual continual development of Bitcoin should remain on an upward trend. This is thanks to the fact that Bitcoin is not reliant on fresh capital piling in helping to maintain the network. Bitcoin remains more of a bottom-up movement that can rely on volunteers and those passionate about the project without a monetary incentive.

2019 is shaping up to be interesting (even in a bad way) no matter the price or development of the cryptocurrency space. With so many variables in play, predicting the price of Bitcoin is nigh on impossible. Whether the traditional stock market will recover from its recent blip, whether Brexit will occur in an orderly fashion, or even whether Donald Trump will ever allow the US government to function again, all leads to big question marks. This is just the tip of the iceberg. Keep your wits about you and try and enjoy the ride if you can.