Tom Lee, Fundstrat Global Advisors: next week, the Bitcoin could grow by 70%

Tom Lee, Fundstrat Global Advisors: next week, the Bitcoin could grow by 70%

Second day in a row cryptocurrencies mostly lose in the price, with the price of Bitcoin further moves away from the critical threshold of 10 000 dollars.

After the initial rally, during which Bitcoin was so close to the psychological level, digital currency # 1 lost 9%, falling to night minimum of 9 050,35 dollar.

However, according to some market participants, the drop may be short lived.

May 14 in new York starts cryptocurrency conference Consensus 2018, which is expected this year will attract more than 7,000 enthusiasts of the cryptocurrency industry. One of the analysts showed a chart of the seasonality of the conference), which suggests a possible rise of prices.

“This is one of the largest cryptocurrency conferences in the world, attendance this year increased sharply. Therefore, we expect that the important and interesting meetings for Consensus 2018 will be much more than in previous years “, — commented on the event Tom Lee, managing partner of Fundstrat Global Advisors.

The event is held for the fourth year in a row, and the last time the number of visitors has doubled, Bitcoin exchange rate rose by 69% during the conference, and by 138% in the next two months. That is if this year will surpass the previous, the Bitcoin can go above $ 15,000.

Definitely that regulation remains one of the main topics of discussion. But according to Tom If it does not hurt the upcoming rally.

“What could go wrong? Comments regarding regulatory risks during the Consensus 2018 will not seriously affect the growth of the value of Bitcoin. Bitcoin and other cryptocurrencies will behave the same as in previous years, and will rise during Consensus”

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