Receive all Bitcoinist news in Telegram! Fundstrat researchers, led by Tom Lee, say Bitcoin is all set up bitcoin whitepaper a massive rally going into Consensus week. The cryptocurrency has been on a three-week high after struggling for the better part of 2018.
In a note to clients of the firm, Lee stated that this year’s gathering would be larger than the one held last year. He also went on to say that whenever attendance at the conference increased significantly, Bitcoin prices rallied in the immediate aftermath. In 2017, attendance at the conference doubled from the previous year. The value of Bitcoin increased by 69 percent during the meeting. In the two months after Consensus, Bitcoin was up by 138 percent. Lee is expecting this pattern to hold, believing that the results this year might even be more significant.
The Consensus conference is an annual blockchain summit that features keynote addresses from leading experts in the industry. It is one of the most popular blockchain technology gatherings of the year. The 2018 edition takes place from May 14th to May 16th. The venue for the summit is the Hilton Midtown in New York. More than 250 experts will deliver lectures at the conference on diverse topics in the industry.
As part of his note to clients, Lee stated the current talk of some cryptos being securities might cause a decline in demand for cryptocurrencies in general. He, however, expressed enthusiasm that this was an unlikely scenario. Throughout the year so far, Lee has maintained a positive outlook on the cryptocurrency market. Even during the bear market that characterized the start of 2018, Lee was one of the few who expected Bitcoin to bounce back. Do you agree with Tom Lee’s prediction? Will history repeat itself and Bitcoin prices moon?
Let us know in the comments below. Images courtesy of Bitcoinist archives, Pixabay, and Shutterstock. Apple co-founder Steve Wozniak is hopeful that Bitcoin will become the single currency of the Internet. In this regard, Wozniak joins Jack Dorsey, the CEO of Twitter and Square, in his enthusiasm for Bitcoin becoming the single worldwide currency. Bitcoin: The Native Currency of the Internet A growing number of influential voices are claiming that Bitcoin should become the currency of the Internet.
News has emerged of yet another cryptocurrency-related ban — this time in Vietnam. The country’s Finance Ministry is proposing a ban on the importation of cryptocurrency mining rigs. According to the ministry, these mining rigs are used to launch unregulated digital payment methods. Receive all Bitcoinist news in Telegram! 10,000 mark, there are still some parties that believe it’s not a good investment option. Bitcoin and cryptocurrencies are currently among the hottest topics in the finance and technology world.
The main reason behind the recent hype is the astronomical rise of the cryptocurrency market cap. There might be some people that still don’t believe in Bitcoin and cryptocurrencies, but there many people that see a huge potential for them. 10,000, because of the upcoming launch of Bitcoin futures by the CME Group. Bitcoin futures would allow more institutional investors to get into the Bitcoin boom and further diversify their portfolios and investments. What are your thoughts on the advice of Deutsche Bank’s strategist? Do you think that people should refrain from investing in Bitcoin? Let us know in the comments below!