In general, investors and analysts said Consensus 2018 would affect Bitcoin and other cryptocurrencies in a positive way, but it was not expected. Experts told me why.
Consensus, the world’s largest crypto money and blockchain event, was held in New York during the Blockchain Week.
In general, investors and analysts were concerned that Consensus 2018 would affect Bitcoin and other crypt money in a positive way. Looking at the historical examples for the Consensus event, it is not possible to qualify this opinion.
However, during consensus 2018, the performance of the crypto money market was not as expected. Beyond expected Bitcoin’s price dropped by 10 percent.
Consensus 2018 rally did not happen, it was very disappointing
Before Consensus, Wall Street analyst Thomas Lee predicted that Bitcoin prices would increase, “Consensus 2018 rally did not happen, it was very disappointing. What we need was a progressive trend: 1- Institutional storage solutions 2- Buying by banks and investment managers 3- Legal clarity. 3 was needed but progress was made in 1 and 2, “he said.
‘The bulk of the increased participation is from financial institutions, this encouraging’
Lee also stated that participation in the event is three times higher than the one we have passed, and that the majority of the increased participation is encouraging for the formation of financial institutions.
Consensus 2018: ‘People were disappointed’
On the other hand, Sunny Lu, Vechain Tech’s CEO of Blockchain -based logistics company, “This week’s losses in Bitcoin could be a result of unmet expectations of Consensus 2018.” The quality of the projects and speakers was not as good as expected. I think people are disappointed. “