Consensus event preview: get ready for optimistic crypto predictions
The crypto fear and greed index has turned green this week as most digital coins rebounded. Bitcoin price has remained above $68,000 while Ethereum is approaching the psychological level of $4,000. Memecoins like Bonk, Pepe, and Floki have experienced significant surges in the past few days, with Pepe reaching its all-time high.
Consensus event preview
The biggest driver for cryptocurrencies will be this week’s Consensus event in Austin, Texas, where numerous industry experts will gather. Robert F. Kennedy, Jr, a US presidential candidate, will be one of the prominent speakers. Other executives worth watching include Sergey Nazarov, the co-founder of Chainlink, Jenny Johnson, the CEO of Franklin Templeton, Cathie Wood of Ark Invest, and Mike Novogratz of Galaxy Digital.
Other important speakers will include Hester Peirce, a well-known member of the Securities and Exchange Commission (SEC), Brad Garlinghouse of Ripple, and Rune Christenson of MakerDAO. Many companies in the blockchain industry, such as BitGo, Stellar, Circle, Stacks, Rootstock, and OKX, have sponsored the event.
The Consensus event takes place at a time when most cryptocurrencies are performing well. Bitcoin recently reached a record high of $73,800, while Ethereum is close to $4,000. Other tokens like Arweave, Core, and Uniswap have also experienced recent jumps.
The Securities and Exchange Commission (SEC) approved eleven spot Bitcoin ETFs earlier this year and spot Ethereum funds last week. Bitcoin funds now hold over $50 billion in assets, with the iShares Bitcoin ETF (IBIT) having a significant market share.
At the same time, the SEC has maintained a confrontational stance towards the crypto industry. It recently issued a Wells Notice to popular companies like Uniswap and Robinhood and has filed lawsuits against companies like Coinbase, Kraken, and Binance.
Crypto sentiment is improving
Previous Consensus events have been well-received by participants and crypto investors. In most cases, past speakers have delivered optimistic statements about the crypto industry.
Cathie Wood continues to believe that the price of Bitcoin will surge from the current $68,000 to over $2 million in the coming years.
Mike Novogratz has also made bullish predictions about Bitcoin in the past, stating that it is “difficult to predict where we stop”. He expects Bitcoin to surpass $100,000 in the coming months.
However, the impact of Consensus on crypto prices is significantly different than in the past. While digital coins like Bitcoin and Ether used to experience surges during the event, the volatility has diminished in recent events.
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