Hey guys,
I want to share a secret indicator that noone actually pays attention: Tether market cap!
As seen in the chart, Tether seems to reach its limits around $4bn, and there is a big resistance there.
This is interesting, because everybody thinks that Tether is created out of thin air, and there is no cap. Is it so?
What if there is a cap that Tether is allowed to print? Have they reached their limit by $4bn?
As you can see from the chart, there is a big relation between the alt season and Tether market cap.
There is a reverse corralation. When Tether markep cap goes down, altcoins pump up. This is because less and less people trade Bitcoin with Tether, but they trade altcoins with bitcoin.
Now, if this market cap goes down and Tether begins to burn USDT everyday, we can assume that altcoin season is finally taking place.
Tell me what you think? Don't forget to hit the like button.
I want to share a secret indicator that noone actually pays attention: Tether market cap!
As seen in the chart, Tether seems to reach its limits around $4bn, and there is a big resistance there.
This is interesting, because everybody thinks that Tether is created out of thin air, and there is no cap. Is it so?
What if there is a cap that Tether is allowed to print? Have they reached their limit by $4bn?
As you can see from the chart, there is a big relation between the alt season and Tether market cap.
There is a reverse corralation. When Tether markep cap goes down, altcoins pump up. This is because less and less people trade Bitcoin with Tether, but they trade altcoins with bitcoin.
Now, if this market cap goes down and Tether begins to burn USDT everyday, we can assume that altcoin season is finally taking place.
Tell me what you think? Don't forget to hit the like button.
Comment:
Also, RSI seems extremely bearish and should make a correction from here.
