Consensus Conference 2018

On May 14, the Consensus 2018 cryptocurrency conference starts in New York, which is associated with the upcoming growth of the cryptocurrency market and which is expected to attract a record number of cryptocurrency industry enthusiasts.  

Attendance at one of the largest cryptocurrency conferences in the world is soaring this year.  In this regard, Fundstrat analyst Tommy Lee believes that the crypto rally will begin with the Consensus 2018 conference.  According to him, the event could attract more than 7,000 people, while last year there were about 2,750 visitors. The last time attendance doubled, Bitcoin was up 69% during the conference and 138% in the two months after, he said. In recent days, the prices of Bitcoin and many other cryptocurrencies have shown some decline, but the conference is a favorable factor for further growth, according to analysts at Fundstrat Global Advisors. 

Tommy Lee expects that regulatory uncertainty and other negative factors will not be able to restrain Bitcoin's growth during the conference. Regulatory actions in many countries around the world, in particular the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are now are in search of suitable regulatory methods, which, on the one hand, will protect crypto investors, and on the other hand, will clear a path for innovation to flourish. But too much control could have a knock-on effect throughout the entire crypto industry, particularly by applying the same rules to all digital currencies that are provided for Ethereum. Thus, the past statement by SEC Chairman Jay Clayton that “all ICOs, without exception, offer securities” may limit the development of relevant technologies.

It is possible that many positive statements during Consensus 2018 will become the basis for an increase in the price of Bitcoin and most altcoins. According to Lee, there is every reason to believe that in the near future BTC will improve its performance, and the Bitcoin rate will not be lower than $15 thousand. The main topic of discussion at Consensus 2018 will be the situation with Bitcoin and Ethereum, which have now entered the mainstream.

Earlier, Fundstrat published the results of a survey according to which 82% of institutional investors believe that the exchange rate Bitcoin has already reached its minimum level.. More than half of respondents believe that by the end of the year the cryptocurrency will cost between $10,000 and $20,000. Only 6% believe that the price of Bitcoin will exceed $30,000 by the end of the year.

Amid this historic event for the crypto community, Ethereum founder Vitalik Buterin announced that he will boycott this year's Consensus conference because CoinDesk, which organizes the event, posted a link to a fraudulent website in one of its news articles.