Bitcoin to Rally on Consensus Conference, Fundstrat Analyst Says

Bitcoin is relatively cheap ahead of a major cryptocurrency conference in New York next week, setting the stage for a rally, according to researchers led by Tom Lee of Fundstrat Global Advisors.

“We expect the Consensus rally to be even larger than past years,” the head of research said in a note to clients, referring to the Manhattan conference gathering for its fourth year. The event may draw more than 7,000 people, a surge from roughly 2,750 a year ago, Lee said. Last time, when new attendance doubled, Bitcoin rose 69 percent during the conference and 138 percent in the two months afterward, he said.