Breaking News

2018 Consensus Summit and What that May Bring to Market Cap
Editorial Team

Yesterday, the fourth annual Blockchain technology summit known as Consensus by CoinDesk started and it will run up until Wednesday. The 3-day summit will be held at the New York Hilton Midtown. Over 250 speakers and over 4,000 attendees from a range of industries will meet at the event. Representatives of startups, investors, financial institutions, enterprise technology leaders, academics and policy groups will attend the event.

This year’s event is expected to surpass the previous year’s records regarding attendance. In 2017, 2,700attendes, over 125 speakers, 80+ sponsors, and participants from over 70 countries around the globe participated in the event. This year’s event has also the New York Economic Development Corporation as a cohost. Furthermore, significant firms including Microsoft, IBM, Procter and Gamble, Siemens, CME Ventures, Citi, Scotiabank, KPMG, PWC any many more are expected to participate.

Crypto investors have another reason to wait for the event. During the 2017 event, the crypto markets experienced a 27% gain in overall market capitalization value, while during the 2016 event the rise was only 2.7%.

Many traders believe that the “conquering” of the $2,000 mark was due to the event last year.  It is also believed that Consensus 2017 brought Bitcoin to the media spotlight and accelerated a market rally that saw Bitcoin at $20,000 on December 17th last year.

If the projections fulfilled and the 2018 event caused a rally that would cause a 270% increment in the total market capitalization, this would mean that the total crypto market capitalization would be valued at $1.053 trillion by the end of the event according to the today’s total market cap. However, this is just a hypothesis or a wish. But everything can happen in the crypto market.