The popularity of the Consensus Event is growing exponentially with every passing year. This year, the event is expected to attract well-over 4000 attendees from around the world, compared to 2,750 in 2017 and only 400 in 2015.
The venue for the event, this year, is the New York Hilton Midtown from 8am, 14th May to 5pm, May 16th, as New York aims to become the capital for blockchain according to city’s senior VP, Anthony Hogrebe:
The Reason for the Influence of Consensus
The Consensus Event is an event that gathers much of the crypto-space, industry start-ups, enterprise tech leaders, mainstream media, academic and policy groups, personality speakers, financial institutions, venture capitalists and other investors (who made huge gains from investments on cryptocurrencies in 2017)
In attendance will be big companies such as Microsoft, IBM, Procter & Gamble, and Siemens, huge investors like CME Ventures, banks such as AMRO, ABN, Scotiabank, and Citi, and accountancy firms like EY, KPMG, PWC and mainstream media (which might drown-out some of the FUD for a while)
It is the partnerships, bonding, publicity and project announcements which are thought to play a part in propelling the crypto-market price upwards throughout the rest of the year and whilst this event and the announcements made there have a positive effect on market sentiment, the part the event plays in any market surge is really seen later in the year, as the partnerships and investments that are agreed at the Consensus Events take time to come to fruition.
Post Event Market Performance
Although the market performance of the past does not indicate what will happen to the market post event this year, the event appears to be responsible for the beginning of the exponential growth for the rest of 2017 and it is perhaps this most recent indicator that we should be taking notice of, but only time will tell;
We saw a gain of 26 percent in the total market cap following the 2017 event and the beginning of a bull-run soon after, compared to the much smaller 2.7 percent after the 2016 Consensus conference.
The crypto market prices have been moving-up from the $8,250 level over the last couple of days, in anticipation of this event and the market was manipulated downwards prior to this event with the FUD surrounding the false story that the SEC was set to rule on whether or not XRP and Ethereum would be classified as securities. Why? Because of the futures market expiration coming on the 16th and the institutional money waiting on the sidelines for a lower entry point.
All-in-all, the Consensus Event is going to be good for the crypto-space.
You copied a whole paragraph from a news article here:
https://coingape.com/coindesk-consensus-event-2018/
"Retrospecting the effect of last year’s Consensus event, it certainly had a huge influence on the cryptocurrency market. The event of 2017 resulted in the gain of 26 percent in the total market cap in comparison to 2016’s small 2.7 percent. On the evening of the event, the bitcoin price surged to $2,000 and triggered the bull run of June."
The paragraph in question was rewritten and appears in this form in the previous paragraph, but in a rush to get my article out, I simply forgot to delete the offending paragraph, which has now been deleted, as it deserved to be (Retrospecting?) 👍