CoinDesk's Consensus Conference Will Drive Bitcoin's Price

CoinDesk's Consensus Conference Will Drive Bitcoin's Price

The intense interest in the 2018 Consensus conference shows Bitcoin may be ready to rally

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CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Its mandate is to inform, educate and connect the global community as the authoritative daily news provider dedicated to chronicling the space.  At least that's what it says on their "About Us" page on their website. Yesterday was the first day of their fourth annual Consensus Conference. Why is Consensus conference important? "Consensus is more than just a conference. It's the largest and must-attend gathering of everyone involved in our rapidly growing ecosystem" according to Kevin Worth, CEO of CoinDesk. We may or may not agree with the platitudes heaped upon CoinDesk and the Consensus conference by themselves, but it is reasonable to think that the price of Bitcoin will be driven by the conference. Not even necessarily by headlines from the conference but by the conference itself. 


Meteoric growth

Since it’s origin in 2015, Consensus has not only increased in attendance but in the ticket price and in the star power of its attendees. It has gone from 400 attendees in year one, to 1400 in year two, 2700 last year and final paid attendance for this year…8500. At a rough average of $2000 per ticket, that brings the total revenue to approximately $17 million. The attendance alone is more than triple last year. Speakers have become more high profile as well with Federal Reserve Bank of St. Louis President James Bullard having spoken yesterday and Twitter co-founder Jack Dorsey, whose mobile payments company Square launched bitcoin trading this year, set to speak at Consensus on Wednesday. The past 2 years, Bitcoin has rallied after Consensus and even though the cryptocurrency remains over 50% down from its highs in December, it is up over 1700% from this time last year when Consensus was in year three. The interest in this conference regardless of price shows that the interest in blockchain and Bitcoin is still very, very high. The price of Bitcoin may follow.  

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