Many whales believe that there is going to be a bullish market in the cryptocurrency sector in May.
This prediction is based on an analysis of the global evolution of cryptocurrencies in 2017. What emerges is simply stunning.
In effect we can see similarity between the evolution of the course in 2017 and in 2018. They are not identical, but quite similar, especially in the last days of March. March 18, 2017, where the graph indicates a vertical fall in the price of crypto-currencies followed by a rebound and a new fall; and observes that this year the same phenomenon occurs.
But this observation is not what suggests that an increase is planned for the month of May. This is actually an event: the annual blockchain technology summit (Consensus) to be held from 14 to 16 May 2018.
A market cap that matches the consensus
In 2017, the Consensus took place twice, on May 22nd and November 28th. When we look at the Market Cap on May 1, 2017, it was $ 38 billion. Surprisingly, at the end of that month, the Market Cap almost tripled to $ 80 billion. And this dizzying high agrees with the Consensus of May 22, 2017.
To confirm this first assumption, the second event of 2017, which took place on November 28, resulted in a Market Cap was about $ 300 billion.
Many investors made cryptocurrency acquisitions on the eve of each of these two events; simply; because they believe they (the events) will have a real impact on the overall price of crypto-currencies, in other words, on the market cap.
Greater participation for this year
If in the past year there were 2700 Consensus participants, this year, about 4,500 registrants are expected, and this could give a big boost to the market capitalization of the market. crypto-currencies as a whole. These 4500 people do not participate in the event just to figure or to have a coffee; they are there to create networks, to experiment the operation in the venture capital universe to make their investments in the event profitable. It should be noted that to take part, students and government employees will pay about $ 1,000 while businesses and private investors will pay $ 2,500.
Very large players in the global economy will be present like (Ledger, deloitte, Bloq, Microsof, IBM, Ripple …), as well as all major traditional media.
ICOS initiating companies and projects will be looking for more partners and investors.
In the same way, giants like Microsoft are looking to invest in projects with high potential.
So we could see a small price spike a few days before or after this event, but it’s impossible to say exactly how big it will be.
In addition, all the media covering the event take advantage of this event to fill in the reports and articles they usually publish in 30 consecutive days.
Reports that bring the attention of the general public to crypto-currencies
It should be noted that 70% of the people who participate in the Consensus are Americans while 15% come from Europe.
This is one of the reasons, however, that this single event will certainly not be enough to boost the cryptographic currency market, but it could be a catalyst for everything it has previously been mentioned: published news articles, short-term price rises, people more interested in investing, creating an even bigger surge that will continue to spread. And when we analyze well, it’s a little what happened in 2017, with a small price spike, which will undergo small corrections and then there is a snowball effect, then a second conference.
And in terms of Consensus-based investment, it is likely that companies, such as Icon, Polymach, Ripple or Lisk that will be represented at this event, will see an increase in value.
Is the Consensus important enough to influence the course of crypto-currencies and create a snowball effect? Nobody knows, however it is a parameter to take into account in an investment strategy.