ANALYSIS: Is there a “Consensus Effect?”

As the crypto community gathers in New York to participate in this year’s Consensus conference, we wanted to better understand whether the annual event had any influence on the price of BTC and ETH.

Obviously, correlation isn’t causation. However, in four out of the last five years (including 2019), the daily average price of BTC and ETH has increased in the 30 days leading up to Consensus. Some might discount the price increase for ETH leading up to Consensus in 2015 because price was dropping just days before the event.

This data is pulled from Poloniex’s daily average pricing.

BTC Prices In The 30 Days Before And After Consensus, By Year

ETH Prices In The 30 Days Before And After Consensus, By Year