Last year, the market saw a bull run in mid may where the market grew 25% in a short time.
What happened?
Of course, people are generally in better moods during Spring and as school years are coming to a close.
But what specifically happened, was Consensus 2017, one of the most important crypto conferences in the world with thousands of participants.
Although there are conferences now with higher amounts of people, Consensus has always been important in that the top crypto industry leaders gather along with high ups from banks, government agencies, and big name companies.
It is sponsored by Coindesk and this year is unique in that New York is making a concerted effort to make it so that there are a lot of incentives for Crypto startups to be successful (New York is aiming to be the crypto capital of the world).
It is where a LOT of major networking and deals are done.
Consensus 2018 is from next monday to wednesday.
Are we going to see similar bull run?
This past week the market slumped a bit which is actually a good sign.
Sentiments are high and hopeful and if next week manages to pump, I believe it will be a full on signal for everyone to jump in and initiate the bull run.
Thoughts?
We could definitely, and this correction may be a pretty good time to get in to ride the rally.
Though past performance doesn't always indicate that something is for sure going to happen in the future. The overall trend of the market right now is still overwhelmingly bearish, and it'll be hard to change that.
There could be a short bull run when the consensus 2018 happens, but that isn't going to change much in the context of the whole year. But yeah, if you want to bet on BTC rising in the short term, then accumulate some BTC for cheap now, and dump it when consensus drives prices up.