Consensus event preview: brace for bullish crypto forecasts

The crypto fear and greed index has turned green this week as most digital coins rebounded. Bitcoin price has remained above $68,000 while Ethereum is nearing the psychological level of $4,000. Memecoins like Bonk, Pepe, and Floki have surged hard in the past few days, with Pepe sitting at its all-time high.

Consensus event preview

The biggest catalyst for cryptocurrencies will be this week’s Consensus event in Austin, Texas where many experts in the industry will converge. 

Robert F. Kennedy, Jr, a US presidential candidate will be one of the key speakers. Other executives to watch will be Sergey Nazarov, the co-founder of Chainlink, Jenny Johnson, the CEO of Franklin Templeton, Cathie Wood of Ark Invest, and Mike Novogratz of Galaxy Digital.

The other important speakers will be Hester Peirce, a popular member of the Securities and Exchange Commission (SEC), Brad Garlinghouse of Ripple, and Rune Christenson of MakerDAO. 

Most companies in the blockchain industry like BitGo, Stellar, Circle, Stacks, Rootstock, and OKX have sponsored the event. 

The Consensus event comes at a time when most cryptocurrencies are doing well. Bitcoin recently jumped to a record high of $73,800 while Ethereum is nearing $4,000. Other tokens like Arweave, Core, and Uniswap have also jumped recently.

The Securities and Exchange Commission (SEC) approved eleven spot Bitcoin ETFs earlier this year and spot Ethereum funds last week. Bitcoin funds now hold over $50 billion in assets, with the iShares Bitcoin ETF (IBIT) having a substantial market share.

At the same time, the SEC has continued to take a confrontational approach to the crypto industry. It recently sent a Well’s Notice to popular companies like Uniswap and Robinhood. It has also sued companies like Coinbase, Kraken, and Binance.

Crypto mood is improving

Past Consensus events have been popular among participants and crypto investors. In most cases, past speakers have delivered upbeat statements on the crypto industry.

Cathie Wood still believes that Bitcoin price will surge from the current $68,00 to over $2 million in the coming years. 

Mike Novogratz has also delivered bullish Bitcoin predictions in the past. Most recently, he said that it was “hard to predict where we stop”.  He expects that Bitcoin will jump to over $100k in the coming months.

Still, the impact of Consensus on crypto prices is significantly different than in the past. While digital coins like Bitcoin and Ether used to surge during the event, the volatility has died down in the past few events.