Thomas Lee’s predicted post Consensus Bitcoin pop never happened. In fact, the market reversed and is now trading at a monthly low! As usual, investors are wondering where the market will go from here.
Contrary to popular expectation, Bitcoin failed to rally 69 – 130% after the Consensus conference in New York ended this week. In fact, it pulled back nearly 5% as the cryptocurrency market capitalization sank to $ 389 billion and it appears that the downtrend is set to continue for the short term.
Fortunately, things still bode well for crypto as: