Looking Back at How Consensus 2017 Moved the Ethereum Price

Looking Back at How Consensus 2017 Moved the Ethereum Price

Consensus 2018 is taking place this weekend, so we decided to look back at how 2017’s event moved the ETH price…

Consensus is one of the most popular blockchain conferences in the world, and this year’s event (May 14-16) is shaping up to be massive.

2017’s attendance to the conference doubled the 2016 record, and the number of eyeballs are sure to increase this year.

This has led some analysts, such as Fundstrat’s Tom Lee to suggest that a massive rally is incoming as we enter the week of Consensus.

This comes on the back of a slight dip we’ve seen this week, with Bitcoin shying away from $10k and receding to the low nine-thousands.

We took a look at how Consensus 2017 affected the Ethereum (ETH) price, here are the results:

Consensus 2017 ETH price movement
ETH Price movement before, during, and after Consensus 2017. Data: CoinMarketCap

As you can see, there was some slight drawback in the price of ETH before the conference. However, in the days immediately before Consensus 2017 the price began to shoot upward, shooting up from around $90 on May 18th to to over $190 by the 22nd.

Following the close of Consensus 2017 on May 24th, the price dipped down to around $130, however this was met with strong upward movement throughout the rest of May and into mid-June, by which point it was trading in the mid-$400s.

Of course, past performance does not guarantee future performance. But, we thought it might be useful to recap last year’s events, so that next month we can make a comparison.


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