From 13 to 16 may in new York held Consensus. This annual conference, which brings together the best minds in the industry to discuss the future of the blockchain and cryptocurrency as a whole. Recall that before the previous meeting Bitcoin and altcoins grew on average by 77 and 161 percent, respectively.
The fifth Consensus may be one reason for the current rise of the home currency. Bitcoin now trading at 5809 $ over the past day coin went up by almost 6 percent.
What to expect from the conference?
Those who joined the stock market in late 2017, had never experienced the joy of the growth of Bitcoin after the next Consensus. By the way, in the beginning of 2018 — when the bearish trend has not yet gained momentum — many considered the conference a key growth factor BTC.
One bad year and y’all ditch the Pump Consensus narrative
Alas, the pump did not happen. During the event the price of the cryptocurrency fell back to 4 percent, and some weeks later the does Bitcoin fell by 28 percent. Cryptomnesia Crypto Bobby noticed that the negative trend in the last year does not mean that after the upcoming conference, we should expect a dump.
Bitcoin for $ 9500?
It is possible to analyze the behavior of Bitcoin in the days when the previous Consensus. The event is almost always caused the growth of the asset, and very good — by as much as 77 percent. Bull market is also reflected in altonah: they rose in price on average by 161 percent.
By a simple extrapolation of these values to the current market situation it can be concluded that Bitcoin can go up to $ 9500 in the coming months. Such a scenario would be plausible if the bulls manage to consolidate above 6500 dollars until the end of may.
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