The increase in supply of Tether is highly correlated to the price of Bitcoin. Tether trading volume is increasing while Bitcoin trading volume is decreasing.
Last time we saw a correction, Bitcoin felt it badly. What’s next this time?
Cash out and new low.. or cash into Bitcoin and BTC goes nuts.
Comment below what you think.
Bitfinex, a cryptocurrency exchange, in conjunction with EOSFinex, reported a complete chain swap. They successfully convert $5 million worth of Tether (USDT) stablecoins onto the EOS blockchain protocol.
Based on a press release on October 5, the firms want to give the EOS DApp ecosystem with a stable and liquid store of value. And they aim to diminish the risks...
Say the chorus of the melody "Unshaken" of the singer D'Angelo, the crash of worlds that we can see between the concept of Fiat currency, Cryptocurrencies, and the Blockchain technology in our modern society. Where our today main character, found the middle ground and its name is Tether.
Tether (USDT) is a controversial cryptocurrency, created to be a stable...
Recently, MACDs have been reversed.
There is no guarantee that it will fall, but it is likely that it will fall.
We need to see whether this money goes to BTC or Altcoin.
I think it will flow more into Altcoin.
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...
It’s as easy as setting alarms just above and below tether market cap. If Tether MC goes up I will leverage my short position going long on December futures, if it goes down and you are already in a short.... sit back and enjoy. Another one of my mental masturbation series.
FYI:still holding a short position at $12,120
BTC: 1PzgZ79Lc6PHdXz4RZcbPuvwXLmT8RzowW
Tether Market Cap vs BTC Price -- please note that Tether prints & redemptions take 20 to 25 days until impacting Bitcoin price. This correlation is very strong and has been working for over 12 months
Just another chart art nothing serious.
Print USDT for more BTC/USD price liquidity, dont stop doing what your doing Tether. keep printing, keep pumping and Always Stay legit ! Until someday tether printer is goes obsolete because somethings..
I'm guessing tether printing more unbacked tethers is causing this unsustainable bull run in the price of bitcoin, eventually, we'll know if this was a bull trap
I know I'm not the first person to point out this relationship but I think it warrants another mention following the price action that we've been seeing. Following our breakdown from 8500 USD, we entered a downtrend. 7500 USD acted strong support and we went on to bounce off it ~3 times. Now, I think the fourth bounce would have been fatal for the bulls as it...
