After the Brexit and the US Presidential Elections, Bitcoin is facing another opportunity to reach new record levels in terms of price. This time we have a potential EU exit in the upcoming French elections, which is the most discussed topic in the past few days.
We have the French Elections one week away, with many speculations made by the Front National leader, Marine Le Pen (the contestant with most votes in the first round of elections). As Le Pen is being extremely vocal in regards to France anti-EU, and his raise in voters, the global markets are expected to be shocked, having the EURO and USD facing a new challenge. If Le Pen will win the French Presidential Elections it is highly to start a "Frexit" march.
Just like in the case of the Brexit, a possible Frexit will end up losing market free-access, with many European companies being affected and ultimately will weaken France both politically and economically. Following a Frexit France will have to adopt a new independent currency which will have devastating results on its future.
As we previously witnessed (Brexit, US Elections), when it comes to political uncertainty, there is an increase in demand for Bitcoin and other cryptocurrencies like Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Monero (XMR), Steem (STEEM), NEM, Ethereum classic (ETC). This increase is actually the worries of the investors (Mostly for Europe) which are looking for ways to safeguard the value of their earnings. Following this, the increase in the total cryptocurrency market capitalization will easily surpass a total of over $200,000,000,000.00 ($ 200 billion). This will profit both new investors which are looking for the safekeeping of their funds and as well the ones exiting as most of their profits will be reinvested in the same market.
