Why did Bitcoin fail to surge after Consensus 2018? Analyst | Crypto Blog

Why did Bitcoin fail to surge after Consensus 2018?

Analysts Tom Lee, who predicted Consensus to cause the much-anticipated crypto price rally, explained why his forecast hadn’t come true.

He admitted, that he and other experts were overly optimistic due to the expected large turnout at Consensus. Lee pointed at the lack of clarity on regulatory discussions and muted custodial announcements at Consensus as part of the reasons why the conference didn’t fulfill the expectations. According to him, the conversion on government cryptocurrency regulations didn’t move forward during Consensus.

Anyway, Tom Lee is standing by his forecast about year Bitcoin reaching $25k by the end of the year. “Bitcoin doesn’t have to go up every day to move from $8,000 to $25,000. The ten best days account for all the return of bitcoin in a year. If you didn’t own bitcoin for ten days each year, you lost 25 percent each year”.