Monthly Crypto Outlook May 2019 : Will The Momentum Continue?

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Welcome to the May Crypto Outlook with Contentworks, an agency specialising in content marketing for financial services, crypto and blockchain.

After a disastrous close to 2018, the price of cryptocurrencies has continued to gain. YTD, Bitcoin, Ethereum, and Litecoin have gained by 38%, 14%, and 130%. These gains extended in April, when the currencies gained by 30%, 14%, and 22% respectively. In total, the currencies have added more than $50 billion in their market capitalization.

The recent gains have been largely due to technical aspects. This is partly because many investors tend to increase their holdings of the worst-performing securities. Further, the currencies were greatly oversold as the year started.

Another reason for the bullish trend is the absence of any major negative news in the crypto space. In the past, the industry tended to move much lower when there are many negative news like hackings and regulatory reviews. The only major negative news in the market was that the CEO of Bitfinex had been accused of making illegal transactions to mask $850 million in missing funds. This was a big news because Bitfinex is one of the largest exchanges in the world.

In May, investors will focus on the Intercontinental Exchange (ICE), which owns the New York Stock Exchange (NYSE). This is because the exchange is expected to get more seriously into the cryptocurrencies arena. In recent months, the exchange has invested in Bakkt, which is seeking to be registered as a registered trust in New York. In addition, the exchange has acquired a custodian company known as Digital Asset Custody Company. This will join other custodial platforms offered by companies like Fidelity and Gemini.

Investors will also pay close attention to a number of high-profile events, which will take place around the world. In Cyprus, the iFXExpo will take place. This is usually one of the largest fintech gathering, andwill bring together thousands of people in the crypto, forex, and CFD industries. The keynote speakers will be regulators, scholars, and senior fintech officials. Additionally, Bitcoin Club Cyprus is back for another exciting meet-up and open Public Lectures and Presentations for Blockchain, DLT and Cryptocurrencies. You can learn more about it here.

Consensus, the large event brought by CoinDesk will take place in New York. As you recall, the lack of major announcements in last year’s event saw the price of cryptocurrencies decline sharply. The event has been sponsored by IBM, Microsoft, and Fidelity Digital Assets.

Fluidity Summit will be another highlight for the month. The event will happen in New York in the coming week. Key speakers will be the likes of Joe Lubin, the founder of Ethereum, Richard Haas, the president of Council on Foreign Affairs, Dona Redel of the COMEX, and Eileen Lowry, the head of blockchain solutions for IBM.

In Europe, the European Blockchain Convention will happen in Copenhagen, Denmark. The event will bring together more than 500 industrial leaders like regulators, investors, lawyers, and Chief Technology Officers (CTOs) to discuss the sector.

Other top events in the month will be the Malta Blockchain Summit, Launch Blockchain Conference in Portugal, Japan Blockchain Tech Summit, and the Collision conference in Toronto.

At Contentworks, our team of financial professionals closely follows market movements for FX, Crypto and other tradable instruments. We are proud to serve some of the biggest crypto and fintech companies in the world by delivering high-impact articles, videos, PR and white papers.

Information provided via press release
Distributed using The Global Crypto Press Association Press Release Distribution Service for industry.

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