Bitcoin (BTC) tothemoon again, and Tether (USDT) may leave

While supporters of technical analysis are wondering whether the bitcoin will break through the $ 6,000 level, the Corn continues to grow. And it showed already above $ 5800 at the moment more than once. At the same time, there are no obvious fundamental factors for growth. But there are “not evident” factors.

Now for sure – the bull trend!

According to Bloomberg, the rise of the Corn in early April was not at all a manipulation, but is explained by a large purchase of Bitcoin. Whales bought BTC worth about $ 100 M on three exchanges. This information was confirmed by Reuters. The bearish trend has now accurately changed to the bull one, that is, a “market reload” has occurred. Although such statements have already sounded, as soon as the Corn raised over the $ 4,200 level.

There is only one influential financier who doubts the bull trend on the crypto market and foreshadows that the Corn will collapse. This is Warren Buffett, 88. A multi-billionaire has been trading in the stock market since he was 11, now he is the third richest person in the world with a fortune of $ 89.2 B. Warren Buffett, according to his habit, torn the Corn to shreds:

“It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything.”

Younger observers and analysts still do not agree that Bitcoin is “a button on a vest,” as Buffett said. In particular, Patrick Heusser, senior trader at Crypto Broker AG, notes that in the short term, the $ 6,000 level is quite realistic. But the impact of negative news from Bitfinex and Tether makes a risk of correction to the level of $ 4,800. That, in general, will only strengthen the bull trend.

The protracted Bitfinex scandal has already taken into account on the market, according to other observers. It is difficult to compare two such important events for their impact. Buying a bitcoin by whales worth $ 100 M caused its growth by 20%. And the withdrawal of the sum of $ 850 M, in which the Attorney General of New York accuses Bitfinex, did not affect the market at all.

Perhaps the Bitfinex and Tether scandal is really not so hopeless. It is known that both the exchange and stablecoin are managed from one center – from iFinex Inc., headquartered in Hong Kong. According to the company, there are two ways out of the crisis. First, $ 850 M is not lost at all, but only frozen by the authorities of four countries – Poland, Portugal, Great Britain and the USA, due to the violation of AML legislation by the intermediary company Crypto Capital Corp – this is a payment service provider from Panama.

Secondly, Bitfinex has repeatedly leaked its intention to launch its own token on the IEO with a cap of $ 1 B. But even if both options fail, and Bitfinex closes and Tether leaves the market, the market will endure. So said Patrick Heusser from Crypto Broker AG mentioned above and no one expert objects to him. It is impossible to say how such a protective cryptoasset like Tether (USDT) with a cap of $ 2,785 B will affect the market – if it leaves. In any case, Coinmarketcap, the most influential market meter, has already excluded Bitfinex indicators from its Bitcoin data, since the BTC / USDT pair trades on the exchange much higher than the market – about $ 6,050. The CMC consider this as a clear attempt of manipulation.

Let’s dream a bit

The trend reversal can be interpreted in different ways. Perhaps this means a symmetrical growth of quotations from the moment when the bottom was broken, that is, from December 16, 2018. Then the capitalization of the crypto market was $ 104 B, dropped from $ 820 B, January 7, 2018. That is, the market can return to highs in a year by the end of 2019.

But judging by the Corn and believing analysts’ estimates, the trend reversal did not occur at the bottom in mid-December (1 BTC = $ 3,200), but at $ 4,200, April 2, 2019. In this case, the return to highs will be in mid-2020.

That makes sense, taking into account the halving of the Corn near May 24, 2020. Until now, halving has always caused a rise of bitcoin, and a very substantial. This is illustrated by the study of the Grayscale Investments (Digital Currency Group).

So – to buy or not to buy? The answer is obvious. But we didn’t tell you that.

25 replies on “Bitcoin (BTC) tothemoon again, and Tether (USDT) may leave”

Tether recovers slow but that’s already a movement to the bright future I suppose

Crypto would never recover, if journalists keep on making wrong judgments and spread silly ideas. We need to judge Tether situation with a cool head.

Tether’s place for special in crypto, I wont exclude that other coins had some plans on it while the coin was dealing with AG

what we feared came to pass, an attack on USDT undermined a large part of the market, we need to learn from it and be prepared for the future in case someone wants to slander this coin again

if Tether is removed from its’ positions I’m afraid we’re gonna have to enjoy our inevitable losses

dont we have more pressing issues to talk bout? USDT will be just fine, crypto doesnt end at this coin ok, I’d suggest we choose smth more important to discuss

All critics will lose cause the truth is on the side of real users of Tether and they absolutely like and support it

what a crazy situation, can we stop this sick assault on Tether already? the coin hasnt done anything evil, we can give it a rest or smth

I enjoy observing the relationship between BTC and USDT, but I can say with certainty that neither has a relevant level of influence on the other, they were heated rivals at some point of time for your information

there’s not much left to deal with I imagine, tether has done almost all it could, so now we should just wait for a bit and this crisis will be over

Tether and BTC have an interesting relationship for sure, but it’s not that dependent in my opinion, any of those two is doing just fine without the other one

so the world is bigger than I thought hm, even if its just crypto we’re talking about – well then, I can look at this Tether situation with more hope, I suppose

i keep forgettin that crypto world is bigger than I thought and I’m glad it’s barely affected by the recent events, Tether should totally focus on solving the legal puzzles and then it’ll be more or less smooth sailin

Ive seen USDT and BTC having a bit of influence on each other, but that was miniscule really, its nothing to go crazy about

bitcoin and tether do share a connection, but not in the way ppl think, so Id leave those two in peace for a change, seems to be a fine course of action rly

calm trading is something purely rare right now, seems like some traders need scandals or a simple scapegoat like Tether right now

crypto cannot be stable just because the industry haven’t attracted any serious investors like Warren Buffett, the problems with Tether are just usual temporary troubles

Whatever they speak about Tether, its numbers are steady. That’s quite interesting phenomenon.

Tether cannot be compared with BTC even if you say that they’re the biggest coins on the market now, it’s better to stop this endless comparing rly

I think I will get back to Tether after the final trial – want to make sure if the situation is fully resolved.

BTC is still strong but it has to deal with Tether coming right behind it to surpass it

Tether’s handled that crisis well enough, we can even say that it got stronger cuz of that, thatd be true

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