Hi Everyone,
Those of you who have been in this industry long enough have probably heard of the Consensus Effect, which is the theory that prices are likely to rally during or directly after the annual CoinDesk Consensus conference in New York.
The idea is that a gathering of several thousand people speed networking, sharing ideas and closing deals can be a boon for grassroots growth in the industry.
It may seem far-fetched, but so far, it's been working. This graph shows the 30-day periods leading up to and following the conference between 2015 and 2019.
Note that 2019 is missing the 30 days after on this graph, but the price did indeed skyrocket after the event, meaning that 4 out of 5 years, the theory has held strong.