Bitcoin Recovers from Three-Week Low as Lambos Take over Manhattan during Blockchain Week


Lamborghinis—flashy cars that represent the excessive consumption among true believers of Bitcoin, took over the streets of midtown Manhattan, the site of the 2018 Consensus conference. Whether or not the drivers of these flashy cars are actual bitcoin millionaires or hired marketers, they have certainly added to the noise and stoked hype for the city’s Blockchain Week.

As the hype for the Blockchain Week went up, the prices of digital tokens also got a boost. Bitcoin went up as much as 3.95% to $8,713 in early trading, recovering from more than a three-week low.

This year’s Consensus conferences is expected to attract a crowd of more than 8,500 people, or twice as many as last year. The conference is predicted to cause Bitcoin to rally, according to Thomas Lee, head of research at Fundstrat Global Advisors.

Consensus, which is hosted by research and media company Coindesk Inc., has already included James Bullard, President of the Federal Bank of St. Louis and Frederick Smith, FedEx Corp. CEO, who claims that blockchain technology “could be the next big disruprtion”.


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