The jump at Crypto due to the blockchain week ended.
Against the backdrop of thousands of crypto, fans gathered in Manhattan for the 2018 Consensus Conference and other industry-related events this weekend, the predictions of battle bulls such as Tom Lee of Fundstrat Global Advisors were all to generate a price jump.
Alas, even the three Lamborghini sports cars, a 1,000-man yacht party, and the 46-year-old rapper Snoop Dogg's concert could not prevent the decline in the overall market capitalization of Coinmarketcap.com by 45 billion. dollar since May 11.
The cost of the Bitcoin falls 3.7 percent this week to $ 8,117.43, although Arthur Hayes, whose company hired the Lamborghini who was parked at the conference venue, predicted a $ 50,000 jump by the end of the year.
The fall this week is far from extreme on the standards of crypto trade, but market behavior, despite euphoria around the blockade of the week, outlined one of the main arguments used by those who are pessimistic about crypto - most people who want to buy it, have already done so.
Many Wall Street professionals have announced the speculative balloon market and Warren Buffett likened the "squat rat poison" to the Bitcoin.
Losses this week may be due to the unsatisfied expectations around the 2018 Consensus, said Sunny Lou, CEO of VeChain Tech and one of the lecturers at the event.
"The quality of the projects and the lecturers were not as good as expected," Lou told Bloomberg. "I suppose people were simply disappointed."
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