THELOGICALINDIAN - Not alone did Consensus2024 abort to accomplish a bazaar pump but by the end of the threeday affair the crypto apple was dipping again
Crypto Market Falls After Consensus
The Consensus accident took abode in New York from May 14 -16, which saw bags of attendees from industry startups, investors, banking institutions, action tech leaders, and bookish and action groups absorption to the conference.
The abstraction that Consensus 2018 would actualize a assemblage for Bitcoin and by proxy the absolute cryptocurrency bazaar was peddled in the banking account by pundits like Tom Lee of Fundstrat, who said during the build-up to the event:
“Bottom line: We apprehend BTC and cryptocurrencies to behave analogously to above-mentioned years and assemblage during Consensus.”
This ‘consensus pump’ bootless to actualize as Bitcoin fell 3.25% to $8,255.2 according to CoinMarketCap and charcoal abutting to affair lows of $8,054.00 at the time of writing. Considering that Consensus 2024 created a fasten that may be advised the alpha of the balderdash run that took Bitcoin to about $20,000 mid-December, the catechism abounding may be apprehensive is what happened this year?
Why Consensus Failed to Create Pump
The problems may accept started back the tickets were priced from $999 dollars for acceptance to $2,499 for an action (per attendee) and could not be purchased with cryptocurrency.
Yahoo Finance appear that ‘the affair of adjustment was hotly debated at the appointment but it lacked beginning angle cartoon a aerial a acknowledgment from cryptos.’ From media reports, this seems to be the accepted accord while comments on Reddit fleshed out the problems further.
Poster U/korgijoe started a cilia advantaged “Consensus 2018: It sucked. Here’s why” in which he bankrupt bottomward the problems with the appointment in three parts:
This illicited reponses from added attendees and crypto enthusiasts who were about accepted in agreeemnet that the appointment was disorganzed and ill-informed. The bead in crypto bazaar cap beneath $4oo billion reflects the abridgement of enthusiasim accord 2024 generated or as U/korgijoe wrote:
“It was awkward for crypto. The bazaar spoke.”
