Bitcoin’s True Believers Are Still Waiting on a Conference-Fueled Rally

While the Lamborghinis turned out to be rented and the street protest a marketing gimmick for New York’s Blockchain Week, what’s really leaving some virtual currency enthusiasts disillusioned is the failure of Bitcoin to rally.

Tom Lee of Fundstrat Global Advisors, one of the industry’s best known analysts, noted prior to this week’s Consensus conference in New York that Bitcoin was relatively cheap and said it was poised to rally even more than in past years. After an initial gain on Monday, the biggest digital coin has slumped.