Consensus 2018- Update In Crypto Price

Hey guys, this post will be recapping my last post on Consensus 2018, and how it impacted the value of cryptocurrencies.

So What Went Down?

Well according to many that went to Consensus, not much happened. It was much less informational than the previous years and was mainly used as a platform to advertise their products. Of course the turnout was quite massive, with over 8,500 tickets sold, but when it came to the investors wallet, not much went into the currencies.

Let's Look At The Numbers

On May 14, 2018 we were able to see a jump from $8,400 all the way to $8,800. However following the end of the day, and into the 15th, the price dropped all the way down till Thursday where it bottomed out at $7.9k. Similar numbers were seen for other alt coins as well. Currently the value of Bitcoin is sitting at $8,213.29, and Ethereum at $689.00.

Why No Massive Increase Like Previous Years?

"However noting the value of Bitcoin nearly hitting 10k, ended up dropping down to 8.5k, it is clear that other factors will impact the value a lot more than Consensus. For example, with tax season over more people are able to start buying cryptocurrencies again without having to sell it off to pay taxes, all the way to Warren Buffet calling it "rat poison squared" (Is that the term??). So with these in mind we can see that, sure the Consensus gets Crypto fanatics and investors running over, but other factors actually make the value of Bitcoin change unlike what Consensus has done so far."
My Last Post (https://steemit.com/consensus/@cryptowithincin/consensus-2018-what-does-it-mean-to-value-of-crypto)
So in summary of that, Consensus just isn't a major player to the Bitcoin price, as everyone on the planet now knows what Bitcoin is, unlike prior years.

Future of Bitcoin

I believe that Bitcoin and most other cryptos irrelevant of how poorly it did on such a hyped up day, it still will be positive by the end of the year. In November/December we should still be seeing a massive jump in prices again for 2 main factors. Firstly, new GPU's will be rolling in by the end of Q3. This will set miners on yet another frenzy which will reignite the value of the coins. Secondly, with the US still not having a set restriction with crypto currencies, those in place are killing off the want to buy the currencies. 30% tax on profits?!?! That's CRAZY!! So once the US Government passes a proper "rule" for crypto, US investors will be willing to put more money into the market, thus increasing value.