Consensus conference can start rally of Bitcoin
Upcoming Consensus conference in New York City might start next Bitcoin rally to the new All time highs.
Head of Research at Fundstrat Global Advisors Tom Lee says Bitcoin is preparing for a massive ride starting tomorrow, when the Consensus conference takes place at the Hilton Hotel in New York from 14 to 16 May. It is expected to attend 250 speakers, and there are expected to be attended by about 7000 cryptocurrency and blockchain experts.
On the chart below, you can see how Bitcoin's price has shifted upwards from the previous Consensus conference, but there were never so big audience. It should be more than double that of last year's meeting.
The Consensus Conference is an annual meeting of blockchain and cryptocurrency experts, attended by leading experts not only in finance but also in other sectors of the world economy. This is the most popular technological meeting of the year!
According to Lee, the previous Consensus Conference has raised Bitcoin's value between 10% and 70%, which may mean that if Bitcoin exceeds the previous one, Bitcoin can get back over $ 15,000.
Can this event mean increased interest in Bitcoin and thus its demand? Probably yes. But let's not forget that we are still in correction after last year's ATH.
Disclaimer: This is not financial advice, I am not a financial advisor. Please do your own research in every topic. Never invest your bread money.