Altcoin Bear Market is Over, Tom Lee Believes

New optimistic forecast from co-founder of Fundstrat Global Advisors LLC
21 March 2018   208

The fall of altcoins is almost complete. Analysts of Fundstrat Global Advisors LLC adhere to this opinion. This is reported by Bloomberg.

According to their estimates, altcoins have fallen by 75% in the last 64 days. This was preceded by an unprecedented take-off of the market, which allowed many of them to update historical highs and lasted 62 days.

Analysts analyzed the trajectories of the last three drops of altcoins and came to the conclusion that each time the fall lasted about the same time as the preceding growth. Thus, according to Fundstrat, the probability that the recession remains in the past is great.

At the same time, Tom Lee and his colleagues believe that it is too early to prepare for a new wave of growth.

During previous cycles, the recession was followed by a consolidation period, which lasted from 70 to 231 days, analysts write in a note. In this regard, they advise their customers to keep assets in the near future in larger crypto-currencies, for example, in bitcoin.

We believe the current purgatory period will last for 150-175 days, implying a bull market for alt-coins really starts mid-August to mid-September. The reason for this longer duration is the current dark clouds overhanging crypto are really alt-coin specific.
 

Fundstrat Global Advisors LLC

Earlier, the US Securities and Exchange Commission initiated an investigation into a number of cryptocurrency start-ups that distributed their tokens through the ICO, suspecting that they could sell securities in this way. These tokens, among other things, form a segment of altcoins.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   32

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

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. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.