The Consensus cryptocurrency conference is now live for another year, running from the 14th of May 2018, until the 16th of May 2018, numerous members of the blockchain and cryptocurrency industry are taking to the New York Hilton, Midtown, to discuss all things crypto. From keynote speeches to stalls, displays and open debates, Consensus is becoming a bit of a pilgrimage for the crypto-community.
According to CoinDesk, the company behind Consensus 2018, there will be over 250 guest speakers and over 4000 attendees, covering the world-wide crypto and blockchain industry.
Importantly, many investors now want to know how Consensus will impact the markets, many are even starting to predict a bull run in the wake of this.
Louis Thomas, famed cryptocurrency vlogger has taken to YouTube to discuss just that, see the video for yourself, here- https://www.youtube.com/watch?v=tgGrGXlGNgI
Thomas highlights that from previous Consensus events (2018 marks the fourth occurrence of this) there is a big correlation between the conclusion of the event, and cryptocurrency prices and market capitalisation shooting upwards. This is because the teams behind Consensus and the teams talking at Consensus will often reduce their activity leading up to the event, in order to allow themselves to release new news and make new announcements on the stage at Consensus, Thomas argues this is because the worlds media are focused on Consensus, and therefore any new announcements made by crypto companies will hit big headlines in a quicker and more dramatic way.
This impulsive coverage in turn, can then cause prices to drive upwards, as we know.
With events such as Consensus, they can indeed become hubs for optimism and promise, as the conference draws to a close, many people will be left feeling quite euphoric, this enthusiasm can spread internationally and thus encourage more people to start trading again, with passion injected back into the community, once more, prices can be driven upwards.
This at least seems to have been the case in the wake of the last few Consensus events, therefore we should prepare ourselves for a similar situation towards the end of this week.
Of course, this is speculation based, the past few years of surges in the wake of Consensus could be down to nothing more than coincidence, for now, we will have to keep our eye on the market trends and see what happens next. This time next week, we could be reporting some very interesting news indeed.