$100 Million More in Tether Printed: How Will This Affect Bitcoin Price?

$100 Million More in Tether Printed: How Will This Affect Bitcoin Price?
фото показано с : newsbtc.com

2019-7-5 23:00

A “whale alert” is a type of Twitter alert that notifies traders when large sums of crypto or Bitcoin is moved from one point to another on the blockchain. It often helps analysts and traders predict large selloffs in advance, or other market movements made by large players known as whales or “market makers.” Other times, it’s used to identify when the Tether treasury has printed more of the Tether stablecoin cryptocurrency that’s backed by fiat reserves and other collateral, which often precedes massive movements in Bitcoin price.

Millions and millions worth in USD value of Tether have been printed since the bear market bottom, and each new printing appears to drive up Bitcoin price further and further. With a whale alert signaling that yet another $100 million in the stablecoin has been printed, how might this affect Bitcoin price in the days ahead?

Tether Treasury Prints Yet Another $100 Million of Controversial Stablecoin

Tether Limited, subsidiary of Bitfinex parent company iFinex Inc, has printed an additional $100 million worth of the stablecoin Tether, trading under the ticker USDT.

Explained here https://t.co/TeC4Ihfdog

— Paolo Ardoino (@paoloardoino) July 4, 2019

The stablecoin is often used as a safe haven during crypto downtrends, as traders swap their volatile Bitcoin and altcoins for the stablecoin, helping them to maintain their capital and avoid unnecessary risk.

Tether’s market cap also appears to have a direct correlation to the overall crypto market activity. Just ahead of Bitcoin’s historic plummet below what was thought to be unbreakable support at $6,000, a small fortune of Tether was removed from the market. Price followed.

Related Reading | Crypto Analyst: Bitcoin Technical Indicator Struggles At This Range Before Bull Run 

After Bitcoin’s low was set in December, more and more Tether has been injected into the crypto market, and Bitcoin’s price climbed right alongside it. This recent injection of Tether capital comes just as Bitcoin reaches yet another critical inflection point and consolidates under the last major resistance before the crypto asset makes an attempt at its previous all-time high of $20,000.

Bitcoin Price to Boom or Bust From Here?

In the days ahead, Bitcoin will either continue its bull run after a more than 30% correction, or fall back to retest support lower. Either way, the crypto asset is expected to rebound and continue higher, but it’s a matter of when and what path it takes first.

This latest addition of Tether could signal that the leading crypto by market cap will soon breach the $14,000 resistance it was rejected from, and continue its parabolic climb into a new bull market.

Related Reading | Poll Shows Crypto Sentiment Overly Bearish, Contrarian Bitcoin Price Move Incoming 

In addition to Tether potentially driving up the price of Bitcoin, concerns over growing global trade tensions and economic catastrophe has caused Bitcoin to rise alongside other safe-haven assets. This added factor may be among many reasons why Bitcoin’s correction has already completed, and could leave dip buyers waiting indefinitely.

The post $100 Million More in Tether Printed: How Will This Affect Bitcoin Price? appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66658.5 (+0.52%)
Объем 24H $20.612b
Изменеия 24h: -0.62 %, 7d: 9.07 %
Cегодня L: $66031.14 - H: $66658.5
Капитализация $1313.218b Rank 1
Цена в час новости $ 10958.62 (508.27%)

bitcoin large 100 market traders alert printed

Источник: newsbtc.com

bitcoin large → Результатов: 126


Фото:

Small Bitcoin holders are accumulating even as prices fall

Tracking the changes in the supply held by entities with various Bitcoin balances provides insight into investor behavior and potential price movements. Each category of holder—from individual retail investors to large institutions—plays a distinct role in the crypto ecosystem, and their collective actions can significantly influence the overall market.

2024-4-29 21:15


Фото:

Whale Watch: Large Bitcoin Cash Holders Accumulate 1 Million BCH Since February

In the last two weeks, cryptocurrency prices have seen significant volatility and during this time onlookers have noticed large bitcoin whale movements once again. Data stemming from blockchain analysis indicates that over the last 48 hours, unknown whale wallets moved over 20,000 BTC ($101 million), showing another large migration not seen since last February.

2019-4-13 04:15


Bitcoin Bottoming Under $3,000 BTC/USD? Does Institutional Interest Hold Any Weight For Bull Run Return?

While we can easily associate 2018 with seeing one of the biggest bearish downturns for cryptocurrency, the latest drop has been both drastic and unprecedented. So far, it has seen a large percentage of altcoins trading at or below 90% of their value compared to their previous highs. The likes of Bitcoin are not exempt […]

2018-11-26 15:53


Sovereign Wallet Develops “Algorithmic Central Bank” and “Meta Blockchain” to Mint New Coins Pegged to Bitcoin

Sovereign Wallet Allows Customers To Mint “Meta Coins” That Are Pegged To Bitcoin In another positive piece of news for the crypto community at large, it now seems as though Sovereign Wallet, a crypto-tech firm, has devised a new platform that will allow users to issue their very own ‘value tokens’ as well as convert […]

2018-11-23 04:10


New China Crypto Mining Rumor: BitFish’s F2Pool Disconnects BTC ASICs Causing Bitcoin Hashrate to Drop

While some of the ongoing rumours can neither be confirmed or denied, it is being reported all over the internet that the recent drop in Bitcoin’s native hashrate has forced a large number of crypto mining rigs within China to be turned off— primarily because this business avenue no longer seems to be profitable. According […]

2018-11-23 03:35


Фото:

A Bug Making Ethereum Transactions on Exchanges Vulnerable Has Been Fixed

A bug centering around a new Ethereum token, GasToken, which was enabling abuse on cryptocurrency exchanges, appears to have been resolved. The details are provided in a report originally published on November 13, 2018, that discussed how the bug was exploited by attackers, and what digital platforms could do if they wished to protect their hot wallet funds.

2018-11-22 00:34


Crypto Experts Agree: It’s Not Wise to Compare Bitcoin (BTC) to Centralized Payment Systems

Bitcoin is the largest and most popular virtual currency in the cryptocurrency market. It can be used to process transactions of $1 million dollars or more or even $1 dollars’ transactions. However, the miners have to pay the same price for processing a very small payment or large transactions. For example, back in September, $193 […]

2018-11-14 18:54


Goldman Sachs Bear Market Indicator Reaching New Highs for Stock Market

Cryptocurrency, Goldman Sachs, Stock Market–While investors respond to the upcoming Bitcoin Cash hard fork, the majority of the market continues to anticipate news surrounding the approval of a Bitcoin Exchange-Traded Fund by the United States Securities and Exchange Commission, a move that could signal the entrance of large capital institutional investors.

2018-11-13 05:58


NEM Among Top Performers in Top 100 After Coincheck Relisting

The market leader Bitcoin is having a slow start to the week trading sideways. Altcoins, however, are showing mixed performances with many showing small losses and others showing large gains. NEM, the 17th largest cryptocurrency by market cap, is among the top performers in the top 100 with an over 15% appreciation over the past […] NEM Among Top Performers in Top 100 After Coincheck Relisting was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-12 18:39


Bitcoin Cash [BCH] Retraces After an Almost 50% Spike in Price

Bitcoin Cash has been retracing over the past two days after a movement which saw the fourth largest cryptocurrency by market cap increase in price almost 50%. The large price increase was spurred by announcements from exchanges that they would be supporting the upcoming hard fork of Bitcoin Cash and holders would receive the new […] Bitcoin Cash [BCH] Retraces After an Almost 50% Spike in Price was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-8 12:09


Charlie Shrem Rebukes Claims of 5,000 Bitcoin Theft, Claiming the True Owner was “Mr. X”

The battle between Charlie Shrem and the Winklevoss brothers continues. In this lawsuit, the Winklevosses accused Shrem of “stealing” 5,000 bitcoins in 2012, after yielding unsatisfactory returns. At the time, they had not pursued action, but the recent large purchases that Shrem publicized led them to believe that he had held on to their Bitcoin. […]

2018-11-8 00:37


Cryptocurrency Markets Find Stability as US Elects Multiple Pro-Crypto Politicians

The cryptocurrency markets have found stability following a period of large gains, with Bitcoin trading steadily in the $6,500 region and altcoins trading sideways. The stability comes after an important mid-term election cycle in the United States, in which multiple pro-crypto and pro-blockchain politicians were elected into public offices.

2018-11-8 21:30


China's Central Bank Wants to Put the Damper Airdrops: Report

The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.

2018-11-5 22:04


China's Central Bank Wants to Put the Damper on Airdrops: Report

The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.

2018-11-7 22:04


Winklevoss Twins Sue Charlie Shrem For Allegedly Stealing 5,000 Bitcoin

The Winklevoss twins have filed a lawsuit against bitcoin investor Charlie Shrem, alleging that Shrem “stole” 5,000 bitcoins from them in 2012. According to a recent report released by the New York Times, Charlie Shrem has made several large purchases over the past year, including multiple real estate properties, luxury cars, powerboats and a $2 million house.

2018-11-3 20:19


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Here’s How the Top 5 Bitcoin (BTC) Whales Are Buying

BeInCrypto analyzes the activity of the top five whales' investment theses, several of which appear to be the earning of passive income. The post Here’s How the Top 5 Bitcoin (BTC) Whales Are Buying appeared first on BeInCrypto.