Will Cryptocurrency have a Bull Run after Consensus 2018?

Will the New York conference about cryptocurrency drive the cryptocurrency market?

If this is the first time you have heard about Consensus 2018, well, you won't be the only one to be in the dark. I had first heard about it from another cryptocurreny enthusiast a week or so ago. Not exactly main stream news.

CoinDesk is proud to present our 4th annual blockchain technology summit, May 14-16, 2018 at the New York Hilton Midtown. Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy.

On top of that, it appears that this is the 4th annual blockchain technology summit. Call me dumbfounded and uninformed. I had no idea.

Now, I just really got into cryptocurrency last summer when I opened my Steemit account and started typing my way to virtual riches. So, maybe for those people in the cryptoworld, this is a known thing and they would be surprised to hear all the hub bub going on about this summit. What hub bub, you say?

• Consensus 2018: Why 14th May Is Crucial To Cryptocurrency Prices?
• This Is Why The Next Bull Run Can Start The 14th Of May
• Upcoming Crypto Events That May Trigger A Bull Run
• Bitcoin to Rally on Consensus Conference, Fundstrat Analyst Says
• Why bitcoin could rally more than 70% in the coming week, Fundstrat’s Lee says

Let's be honest here. One guys says that BitCoin will rally around the time of the conference and everyone puts out similar stories with no real information as to why the conference will make the crypto market go bull through a crystal shop to the moon.

The Facts

• expected to attract close to 7,000 blockchain and cryptocurrency enthusiasts
• is in New York, New York
• 3 days, from May 14th-16th
• 200+ speakers

According to Consensus' About Page, growth of the conference has increased by more than double each year. Which is to be expected as an event gains momentum.

The number of people attending the event will certainly increase the buzz. They had about a dozen news outlets and untold number of bloggers in attendance last year. This year should be the same, but probably even more coverage by independent bloggers. But, it has less to do with the event itself and more to do with what happened last fall and upto this January in the crypto world.

As Tom Lee, managing partner at Fundstrat Global Advisors, points out, May is just a good time of year for increases in crypto prices. And there is a chart to go along with his statement to show a correlation between Consensus and the price.

However, just in the last few days, BitCoin tried to break out of $10k, but fell back into the $9k ranges probably due to some FUD from Warren Buffet and others who still want to get in at bargain prices. The rise started way before the conference is due to start.

~ source: https://www.livecoinwatch.com/

Sure, when the conference only had 1,400 people in attendance and nobody really knew about it, cryptocurrency had a surge in price. But, I don't think we can make the correlation between the two. The suggestions that cryptocurrncy would go up after the US Tax Season ended seems more likely, but it still hasn't really bounced back from what it was in December.

No, I think that it is probably just a combination of people slowly getting their feet back in after the spike and crash that happened between November and January. I think that spring is a good time to start sewing the seeds for the harvest in fall. Smart investors are making their bets and looking to reap big rewards in the fall, before everything drops again in the winter.

• Plant in Spring
• Grow in Summer
• Harvest in Fall
• Hodl in Winter

And, for right now, John McAfee's bet is actually only 2% off. If BitCoin breaks $10k during the conference, then John will be back on track with his bet. If prices go like the chart above, he'll be way ahead in his bet. Which means, that it is less the conference and more the natural trend of cryptocurrency market.

~ source: Bitcoin Price Prediction Tracker

What if it is True?

If Consensus does have affect on the cryptocurrency market, then you should place your bets to cash out between a 200 and 600% increase shortly after the conference ends. Because if history likes to repeat, then the cryptomarket will correct after it hits the high mark. And if you managed to place that smart bet, then you'll want to get in on the cheap for when the prices shoot back up over the summer and fall.

What you get out of the conference, I don't know. There will be a lot of people explaining why their blockchain is best blockchain. Sure, there will be people from banks and he government in attendance. Will it cause ripples in the trading world? Maybe a few small waves. But, unless someone announces something unpredictably huge from some major business section, then it will just be another day in the cryptoworld.

What you really need to know

The most important thing that will happen to anyone at Consensus 2018, will be getting their badge stamped by @SkyCorridors , because I convinced her to get a stamp for the conference.

---

Let the positive energy sing!

More Power to the Minnows!!

Trading on Bittrex and Binance
Claim Your Stake with a Stake Box
HODLin’
Stellar Lumen(XLM) -- Cardano (ADA) -- Digibyte(DGB)
Get your old school text-based gaming on.