Hello everybody,
Market capitalization fell from $ 470 billion to less than $ 370 billion last week. This morning, the graph was around $ 390 billion. As described in an article 19 days ago, 390 billion are currently a good value. The 'target' of $ 1 trillion in market capitalization until the end of 2018 is still in sight. The good thing about this retrogression is that the market obviously does not fall into a blind bidding race of bidders. Much more, a phase of price increase alternates with a phase of sell-off to realize profit. Among other things, this also makes it easier for private investors to choose good projects and currencies in which they then invest.
The summit meeting. These days, more than 4,000 participants from over 70 different countries meet in New York at the Consensus 2018 to talk about blockchain technology and cryptocurrencies. Among the represented stakeholders are financial service providers, start-ups, government agencies, insurers, supply chain companies, security companies, health care providers, etc.
See the following link for more information: https://www.coindesk.com/events/consensus-2018/
In recent years, cryptocurrency prices have risen more sharply following this event than in the previous period. Why? Looking at the line-up of companies and institutions represented, as well as the speakers, it is clear that the event has a lot of knowledge and a lot of decision-making power are concentrated there. This immediately leads to two things. First, Blockchain projects are discussed and decisions on implementation are at least prepared, and secondly, the more 'prominence' is involved the bigger becomes the public interest. Indirectly, after such an event not only new projects are created, but the number of potential investors also increases. This theoretically creates an increasing demand for the primarily traded cryptocurrencies. Eventually this might lead to another price-ralley.
So we all have another exciting week ahead.
Your JP
