Bitcoin’s True Believers Are Still Waiting on a Conference-Fueled Rally

[bbc.reporter]

What talk of regulation? Those rumors developed to be nothing but FUD masterminded by the bitcoin news media so that they can get more hits on their own cryptonews websites. The Upbit raid was also FUD, it was nothing but a misunderstanding.

The no bitcoin rally situation days before, during and after Consensus might be because of something else. But what?



Tom Lee of Fundstrat Global Advisors, one of the industry’s best known analysts, noted prior to this week’s Consensus conference in New York that Bitcoin was relatively cheap and said it was poised to rally even more than in past years. After an initial gain on Monday, the biggest digital coin has slumped.

To be fair, Lee did include a caveat, saying that that talk of regulations for Bitcoin and other cryptocurrencies could damp enthusiasm. While there were several panels on regulation at the conference, there were few fresh insights. Lee didn’t immediately respond to a request for comment by phone or email Wednesday.

Read in full https://www.bloomberg.com/news/articles/2018-05-16/bitcoin-true-believers-still-waiting-on-conference-fueled-rally

[1715111646]

1715111646

[1715111646]

1715111646

[1715111646]

1715111646

[1715111646]

1715111646

[davis196]

The crypto news blogs and their "shocking" clickbait articles can drive the bitcoin price down by 1000 USD?
Is that what you are trying to say?You are kinda right about this.Those blog owners are so selfish.They only  care about their traffic and their Ad revenue.They don`t care about the community and the future of crypto.
I don`t read crypto blogs anymore.There`s so much propaganda and fake news.

[vit05]

I believe the price should be motivated by something that happens in the event. Some great insight, something revolutionary or innovative. But so far they are talking the same as it could have been said last year. Nothing extraordinary about LN, or any new protocol that can solve a problem that exists in a short period of time.
Neither a major dispute nor heated debate took place.
BCash against Bitcoin
ETH against the other plataforms (ADA, NEO, NEM)
nothing.
When things are warm, it's time to start getting worried.

[okala]

FUD is what drive this market and in reality if you what to makes it in it you have to follow the FUD.  If we keep on complaining we would be out of the game and things may become bad for us.  We are at the moment were both fake and genuine news affects the price and the professionals marketers and news sites are taking advantage of it and I will advise us the traders to also take advantage of this also.

[slaman29]

I never did believe that some conference full of corporate entities was going to create a bull for Bitcoin. 99% of the world's Bitcoin users don't care about Consensys or whatever summit is happening, I mean, hundreds take place every year, always almost filled with the same people promoting nonsense projects and talking about things the normal user doesn't care about. Yes, maybe 90% of Bitcoin is with all these business whales. But if Bitcoin resisted global regulation, why would it be prone to what a few bigshots say about it?

[Awesomus Maximus]

Everyone seems to be waiting for the next big boom. Everyone seems concerned about price, markets, charts, short term gain. Will this conference change anything. No.
The real bitcoin believers are not concerned at all. They are just holding. They know that all they have to do is wait. No need for huge tech breakthroughs, all bitcoin needs to do is to be stable and keep going as it is.

[bbc.reporter]

I never did believe that some conference full of corporate entities was going to create a bull for Bitcoin. 99% of the world's Bitcoin users don't care about Consensys or whatever summit is happening, I mean, hundreds take place every year, always almost filled with the same people promoting nonsense projects and talking about things the normal user doesn't care about. Yes, maybe 90% of Bitcoin is with all these business whales. But if Bitcoin resisted global regulation, why would it be prone to what a few bigshots say about it?

Also, I heard that 90% of the cryptocoin projects and platforms presented in that conference are scams. I reckon it might be like the real world 3D version of the announcement subforum hehehe.

[pooya87]

just like FUD, hype can only affect the price when the time is right. this conference could have been a hype and lead to a rise only if the market was ready for a rise and were already on a rising trend. for example if it was during the rise from $9200 to $9900 (last time) it could have led to a bigger rise. but it wasn't, instead it was dropping and people were scared of getting in.

[Phenoca]

Title is my existence right now.
Damn interac limits. Guess I'll set my alarm for banks opening.

[Wind_FURY]

Title is my existence right now.
Damn interac limits. Guess I'll set my alarm for banks opening.

Hahaha and mine! But we should celebrate.  We are being given another opportunity to buy some more coins priced under $10,000.

I still believe that Bitcoin is a once in a life time opportunity, or will be once its priced in 6 digits. Happy hodling.

[airdagon]

all forum users already know that bitcoin prices failed to complete the predicted rally following the NYC conference.
bitcoin prices have fallen about 10 percent this week since the consensus of the crypto conference ended yesterday, May 16, despite predictions that the event will cause the crypto market to skyrocket. However, data from coinmarketcap and cointelegraph indicate that the BTC is moving from about $ 8,726 on May 14 to its current current price of approximately $ 8,310, a decrease of about 5 percent during the Consensus conference date, with an overall weekly decline of around 10 percent and the recent decline being 2.61% and the price is now at $ 8,107.

[BTCLovingDude]

I never did believe that some conference full of corporate entities was going to create a bull for Bitcoin. 99% of the world's Bitcoin users don't care about Consensys or whatever summit is happening, I mean, hundreds take place every year, always almost filled with the same people promoting nonsense projects and talking about things the normal user doesn't care about. Yes, maybe 90% of Bitcoin is with all these business whales. But if Bitcoin resisted global regulation, why would it be prone to what a few bigshots say about it?

Also, I heard that 90% of the cryptocoin projects and platforms presented in that conference are scams. I reckon it might be like the real world 3D version of the announcement subforum hehehe.

i will go as far as saying this may even be the main reason why this conference didn't end up with a big rally like last time and like some people were anticipating.
people think altcoins are not doing anything to bitcoin but i say they may even be the cause of the drop...

[Phenoca]

You win, bears. I am down to my last fiat bills. Got to go inside the bank vault; was sort of cool. If price drops again then my Martingale fails miserably. Gonna go sleep for 14 hours.

[fourpiece]

 I'm also one of the believers of bitcoin which hoping that bitcoin will surprise us holders unexpectedly. Can't wait for that moment to happen. 

[ajqjjj]

I'm also one of the believers of bitcoin which hoping that bitcoin will surprise us holders unexpectedly. Can't wait for that moment to happen. 

Most of the peoples are believe the Bitcoin including me to but current situation is totally unexpected so some peoples are drop the Crypto investment. Still some peoples waiting to sudden hype be consensus conference is recently conducted so anytime Bitcoin will going to moon.