Source: Crush Crypto
The cryptocurrency market was relatively flat during the past week. The overall market cap dropped by 3% to $389 billion. Bitcoin is up 1% to $8,500 while ether price increased 3% to $720.
A lot of investors expected that the blockchain week, which happened last week, would provide a positive catalyst to the market. However, it didn’t happen and the market was actually dropping while the Consensus conference was ongoing.
It goes to show that when most people in the market expect something to occur, the opposite usually happens because the event/news is already priced in. This is a typical “sell the news” type of price movement.
However, from attending the conference, I can see that a lot of institutional investors are very interested about getting into the space. It takes a while before such investors are cleared to take…