Earlier this month Fundstrat Global Advisors made the prediction that the Consensus conference would generate a price spike for Bitcoin. Well, Tom Lee and crew were wrong...again.
The Consensus conference occurred for this week and was marked by a notable decline in the price of Bitcoin.
Maybe the false hype from Fundstrats merry pranksters caused a run up leading to the conference which could only fall apart once the big week arrived. It feels like every thing Tom Lee touches turns to fiat, at least he's consistent.
If you toss a coin to make a prediction, you probably would get it right more number of times. It is really difficult to get a grip on Bitcoin's price jumping around in the short-term.
These conferences are in case for the believers. They might generate a little bit of hype and media attention, but I do not think it is enough to get more investors in and trigger a rally.