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Wall Street Adaptation and Consensus Summit – Bulls Expect Sharp Rally

Cryptocurrency markets are under pressure for the third straight day after hitting the two months high on Sunday. Positive reports — including the potential launch of cryptocurrency trading on Wall Street and the upcoming Consensus Conference beginning May 14 — don’t seem to be having any influence over the market. Could it be that the good news is trumped by the recent outspoken bearish stances from legendary investors Warren Buffett and Bill Gates?

But the good news can hardly be ignored for long: Intercontinental Exchange (ICE) – the parent company of the New York Stock Exchange (NYSE) is planning to introduce cryptocurrency trading in the days to come and this is a remarkable change in Wall Street sentiments, as they have ignored cryptocurrencies over the last decade due to its unregulated nature.

Further, Goldman Sachs has recently announced that it would be launching Bitcoin future contracts and Adena Friedman, NASDAQ’s CEO, has shown a positive attitude towards the potential launch of digital currencies in Wallstreet by saying: 

I believe that digital currencies will continue to persist, it’s just a matter of how long it will take for that space to mature. Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly, Nasdaq would consider it.”

Consensus Conference Summit

Bulls are optimistic that the involvement of more than 7,000 blockchains and cryptocurrency enthusiastic in the Consensus Summit will create a fresh bull-run in prices.

Tom Lee gave his opinion:

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy.”

Cryptocurrencies Hit Weekly Low

Source Image: coinmarketcap.com

The cryptocurrency market capitalization plummeted below $420 billion early today — the lowest level in the last week. The considerable decline is attributed to the selloff in bitcoin and altcoins prices. Bitcoin price traded around the $9,000 level early today before gaining some momentum later in the trading.  Bitcoin Cash (BCH) price retreats to the $1,500 range, while the rest of the top ten altcoins have lost all the gains that they generated during weekend bull-run.

Featured Image: Twitter

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