mich-bit55

Digital currencies are in a slow rise over the past day, after being in a negative territory over the previous three days. The price of Bitcoin rose 2% in a day and is again testing the key $10,000 level. After the weekend rally where Bitcoin touched this gap, the leading digital currency lost 9% and traded to an overnight low of $9,050. Currently, Bitcoin is back on its feet again and is trading at $9,312 at press time.

As you probably know, there are a lot of things affecting the growth of Bitcoin and its popularity. On May 14th, a conference named Consensus will attract close to 7,000 blockchain and cryptocurrency enthusiasts in New York. According to one analyst, this conference can push the popularity of Bitcoin closer to the all-time high.

That analyst is actually a well-known authority in the crypto waters. We are talking about Tom Lee, the managing partner at Fundstrat Global Advisors, who has had many predictions about the price of Bitcoin and other cryptocurrencies in the past.

According to Lee:

“Already one of the largest crypto conferences in the world, attendance this year is up dramatically and coming at a time when Bitcoin/Crypto is down YTD. Hence, we expect the Consensus rally to be even larger than past years,”

According to Lee, the prior Consensus rallies made the price of Bitcoin go up between 10% and 70% – and such thing is definitely possible this year too. If that is the case, we will see Bitcoin surging back above $15,000 and coming closer to an all-time high.

Obviously, regulation will be one of the main topics of conversation at this conference. However, Lee is confident that this won’t hinder Bitcoin’s potential and the pending rally.

“What could go wrong? Commentary around regulatory risks during Consensus are negative. We do not expect this to be the case, however,” wrote Lee.