Consensus - Market is RED - what is happening?
Are you still excited about Consensus 2018? For those who are not familiar - Consensus is the 4th annual blockchain technology summit hosted by Coindesk. It runs from May 14-16, 2018 at the New York Hilton Midtown. It is one of many events occuring in New York's Blockchain Week. The event is underway and features everything crypto. There are approximately 8,500 attendees and over 250 speakers from the industry. Ticket prices range from $2,000 - $3,000 - so no cheap at all.
Needless to say it is an important event and many in the cryptoworld have high expectations regarding the events's impact on the cryptomarket. Maybe some of you are familiar with these statistics.
Despite the statistics - this is how the market looks at the moment. (See the CoinmarketCap foto)
Yes - the market is RED and no one knows exactly the reason why. With the cryptomarket - this could change at any moment. So what do you think - will Consensus cause the bulls to start running tomorrow? Or will the bulls run when they feel like it?
Would love to hear what you think.
Personally I think the claims touting Consensus as a catalyst for launching the cryptocurrency markets into some sort of frenzied bull market were overplayed and destined to fail -- at least in the short term.
Frankly I see it as an excellent opportunity to pick up some of the cheaper altcoins that have had percentages shaved off their price through no fault of their own, even picking up a little bit of BTC as it bounces above the 8k support.
As Baron Rothschild once put it; "the time to buy is when there's blood in the streets."
Or if you want to look at Buffet as an example: "You pay a very high price in the stock market for a cheery consensus." True enough despite his views on the technology, I would have thought. :)
Indeed - the Consensus event might have been overplayed. I believe that so many factors affect the market that it is hard to " hang one's hat" on one.
You are correct - it is always time to shop for one's favourite crypto when there is blood in the streets.
I prefer Buffets quote though - especially for the play on words " .........cheery CONSENSUS." :)
Good one
I love this