Tom Lee, the famous Bitcoin bull (a bull who buys currencies, which results in its value) and the only Wall Street analyst, which is considering Cryptocurrency, has recently argued that the price of bitcoin will be massive during the Consensus Conference of the current year Will be held on May 14.
According to MarketWatch, the Fundstrat Global Advisors researchers used historical data to see how Bitcoin behaved before and after the Consensus Conference.
The results were shocking. They found out when the number of attendees at the consensus conference was growing, and even the price of bitcoin during and after the event. In 2017, compared with the previous year, the number of attendees was doubled and the price of bitcoin increased by 69% during the conference. During the next two months, the cryptocurrency increased by 138%.
Lee and his team believe that such behavior will continue. Considering this year's consensus conference, where more than 7,000 people are expected, growth will be unprecedented. Analysts informed clients:
"With the fact that this is one of the biggest cryptocurrency in the world, this year's attendance has been dramatically increased and while the bitcoin has suffered. Therefore, we expect that a sharp increase in the conference will be recorded in the past. "
Consensus Conference is the annual blockchain summit, where experts from Cryptoworld and Blockchain will discuss several issues of the industry. Ethereum founder, Vitaly Boutner, will not attend this year's event because the boycott decided to arrange for several reasons, including the management of price and organizational companies.
According to Tom, the Consensus Conference will also review the potential regulatory criteria, which, by his faith, will hinder enthusiasm. He said:
"We expect the bitcoin and cryptocurrencies to behave like the previous years and to increase the price at the conference."
Tom Lee says that the mid-year Bitcoin price will reach $ 25,000 and it will become 91,000 dollars by March 2020. The Wall Street analyst has predicted that cryptrollouts will stop falling in April after the US taxpayers pay taxes on capital gains.
The price of bitcoin after the last 24 hours has fallen by 2% to 9,110 USD. This month, Cryptocurrency reached the highest level of $ 9,885, but it failed to break 10,000 dollar mark. If the league's forecast is correct and the price increased by 70%, then its value could exceed $ 15,000.
Source: https://goo.gl/2caSqY