Willy Woo, a long time investor, trader, entrepreneur and cryptocurrency enthusiast says that from the look of things, the way things have manifested themselves in the recent past, the price of the Bitcoin is likely to shoot for the second time.
Woo argues that something interesting has been happening in the past days prompting him to assert that the price growth of the Bitcoin is a must.
Making a firm assertion, Woo says that he is not alone with such feelings.
“I’m well connected. The people I’m talking about are not those who have just woken up from the village but a class of elite veterans who for a long time just like me have studied how the Bitcoin has been performing I the market. We’ve been able to gather valuable information from people who are smart in money investment. All they say is that the future of traditional means of doing financial transactions is uncertain,” said Woo.
Woo and his friends have reached to a conclusion saying that they now see a new money that is gaining entrance into the cryptocurrency world.
So to speak, the Bitcoin has been recording an unprecedented rise in the cryptocurrency market in recent days, with some money investors left to worry.
A lot is happening in Europe that is likely to shape the performance of the Bitcoin. For instance, the outcome of May 7, 2017, France elections will determine how the Bitcoin will perform.
Remember that Marine Le Pen, one of the ‘influential’ candidates in the French elections is a staunch supporter of France’s exit from the European Union. Many people are saying that if that happens, it will be just but a start of the breakup of European Union, one of the strongest financial markets in the world today.
Just as Donald Trump of U.S., Le Pen is also seen by many as a long shot.
But because it is hard to predict what will happen just as it occurred in the U.S August elections, altcoins are taking a unique advantage of the stalemate by the Bitcoin that has lasted for almost two years. This prediction is, however, not inclusive of the Ethereum, which during the time the Bitcoin has been dormant in its price rise, has recorded tremendous performance.
According to Woo, the Bitcoin performance along with other cryptocurrencies in the market is likely to improve if Le Pen wins the election. However, that does not mean that if Le Pen does not win the election, there will be a fall in the price growth of the Bitcoin.
Willy says there still will be a fair performance.
“I am not saying that there will be a slowing down on any cryptocurrency in the market even after Le Pen defeat. There is likely to be a moderate retrace that will be followed by an upsurge in the value,” said Woo.