The Biggest Event in Blockchain Tech
It’s going to be a big week in blockchain tech next week, as Consensus 2018 is a three-day conference located in New York with all the biggest movers and shakers in the space attending, speaking, and networking.
Consensus is hosted by Coindesk, with over 250 speakers and 7,000 people attending from a wide range of different industries, including finance and technology.
The event is often seen as a bullish influencer on the markets, with altcoins in particular historically increasing in price around the time of the conference. Consensus has been host to monumental events in blockchain tech, such as the SegWit2x agreement that took place during the previous event, Consensus 2017.
Market Pullback Before the Conference
Despite many pinning hopes on Consensus to push Bitcoin back above $10,000, a perfect storm of Mt Gox trustee updates, fake SEC news, and overall FUD triggered yet another pullback, with Bitcoin and Ethereum both down over 10% from last week’s prices.
If that wasn’t enough, household names like Warren Buffett and Bill Gates have spoken against Bitcoin, which many believe also contributed to the latest pullback.
“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.” – Warren Buffett
“I would short it if there was an easy way to do it.” – Bill Gates
Interestingly, Bill Gates was always known as being extremely bullish on cryptocurrencies, the underlying blockchain technology, and the untapped potential to bank the “unbanked.” It will be interesting to see if he does attempt to short Bitcoin!
Many enthusiasts now look to the historic trends to recover the prices. Will the biggest Consensus conference to date be able to repeat history and bring back the bullish sentiment?
Only time will tell how it influences the markets, as anything can happen in this new and volatile digital ecosystem.
Disclaimer: Only invest what you are willing to lose. Do not place your hopes on one event happening, and always do your own research!