This coming halving is going to push the price of Bitcoin to the bullish trend we'll have been waiting for, we should never be decided of selling our own token because this would be a bigger loss for us after holding and we now sell when the price of Bitcoin is about to go bullish we need to know how to forcast the price of Bitcoin so that we don't end up making the wrong decisions that could bring loses to us. The crypto market is still on the bull and the halving is going to make many ignorant people to be surprised about the price of Bitcoin.
People gets surprise when their plans doesn't go as planned. Bitcoin have always dominated the system and I'm never going to relent from achieving my purpose in the market, I'm here to explore opportunities and my portfolio, no room to underestimate any project, rather we stick to the available solid projects and hope for the future best of our existence in the market. This halving have always been the top rising matter in the space and I just hope whole sector is been out together and accumulating streak winnings. 
Topic: Is the newly minted USDT, a driving force to surge of BTC ? (Read 791 times)
The recent surge in Bitcoin's price, possibly fueled by Tether's USDT release, has defied historical trends. Predicting specific numbers is difficult, but reaching $70-75k before April seems plausible. Doubling the previous all-time high to $150k is ambitious but not impossible
This coming halving is going to push the price of Bitcoin to the bullish trend we'll have been waiting for, we should never be decided of selling our own token because this would be a bigger loss for us after holding and we now sell when the price of Bitcoin is about to go bullish we need to know how to forcast the price of Bitcoin so that we don't end up making the wrong decisions that could bring loses to us. The crypto market is still on the bull and the halving is going to make many ignorant people to be surprised about the price of Bitcoin. 
The worry to repeat again about their case before, having admitted that they have lower reserves or not fully backed can easily be seen again if they will continue to release USDT without really having actual reserves. Yes, they are the popular stablecoin for now but once people learn that their reserves are not fully backed, do you really think people will still hold their assets? This is why stablecoins are quite risky because we don't know if the team behind it are actually saying the absolute truth about their backing.
Tether's moves are shady. The company keeps increasing the supply without proving it actually owns the USD reserves backing the coin. It will be a complete mess once USDT loses its peg to the USD. I see Tether's inevitable downfall as FTX's sudden collapse. Market prices will go all the way down the drain in an instant, leaving many investors "rekt" in the process. I think it will be even worse than the Terra/LUNA stablecoin crash.
USDC is a better option, imo. Circle (the issuing company) has more transparency and a strong commitment to its customers than Tether itself. It went as far as honoring the value of $1 per coin at a time when major US banks collapsed (1-2 years ago). The crypto market still relies on BTC as its reserve currency, so the impact of a USDT crash won't be permanent. The future can't be predicted, so lets hope for the best.
I have always had the fear that stable coins like Tether might eventually harm Bitcoin and the other cryptocurrency. Their constant printing of currency at will is not different from what the FED are doing and this will ultimately lead to something similar to inflation and investors loss of confidence. I don't know if they have the regulatory authorization to print USDT at will but I know they might use it someday to manipulate the market and that will lead to the situation you described in your comment.
They can only print up to what they have in USD reserves. Anything more than that would be considered a "scam". And if Tether fails to provide regular audits of its USD reserves, you can know what to expect of USDT in the future. The risk is simply too high to bear. I think you're much safer holding Fiat at a bank account, than a stablecoin with no investor protections or guarantees of any kind. At least in the US, your bank deposits are insured up to $250k by the FDIC. As for USDT and similar coins, you're on your own.
With USDT having a strong influence on the crypto market (it's the largest stablecoin by market cap, after all), a crash will cause catastrophic consequences in the short term. Market prices for major crypto assets will decline like never before. Just steer clear of USDT, and there should be nothing to worry about.
The worry to repeat again about their case before, having admitted that they have lower reserves or not fully backed can easily be seen again if they will continue to release USDT without really having actual reserves. Yes, they are the popular stablecoin for now but once people learn that their reserves are not fully backed, do you really think people will still hold their assets? This is why stablecoins are quite risky because we don't know if the team behind it are actually saying the absolute truth about their backing.
I have always had the fear that stable coins like Tether might eventually harm Bitcoin and the other cryptocurrency. Their constant printing of currency at will is not different from what the FED are doing and this will ultimately lead to something similar to inflation and investors loss of confidence. I don't know if they have the regulatory authorization to print USDT at will but I know they might use it someday to manipulate the market and that will lead to the situation you described in your comment.
They can only print up to what they have in USD reserves. Anything more than that would be considered a "scam". And if Tether fails to provide regular audits of its USD reserves, you can know what to expect of USDT in the future. The risk is simply too high to bear. I think you're much safer holding Fiat at a bank account, than a stablecoin with no investor protections or guarantees of any kind. At least in the US, your bank deposits are insured up to $250k by the FDIC. As for USDT and similar coins, you're on your own.
With USDT having a strong influence on the crypto market (it's the largest stablecoin by market cap, after all), a crash will cause catastrophic consequences in the short term. Market prices for major crypto assets will decline like never before. Just steer clear of USDT, and there should be nothing to worry about.
Crazy amounts of tether being minted. Just a few hours ago we had a $1B tether mint and then all of a sudden 30 mins later another $1B tether print. Basically $2B in a single day. At first I assumed it was a misprint.
We also had another $1B tether print yesterday. And the circulating market cap is well over $100B now. This implies tons and tons of money is flowing into tether.
Look at the tether premium it’s something like 0.2% which is usual. Means there is tons of demand for tether. The tether prints are lagging the supply.
We also had another $1B tether print yesterday. And the circulating market cap is well over $100B now. This implies tons and tons of money is flowing into tether.
Look at the tether premium it’s something like 0.2% which is usual. Means there is tons of demand for tether. The tether prints are lagging the supply.
"Tons of demand for Tether"? Or is it market manipulation? Constantly adding new USDT into circulation without regular audits from the regulators, looks shady to me. They may be printing money "out of thin air". If the "bomb" explodes, we should expect market prices for major crypto assets to go all the way down the drain in an instant. Afterwards, investors will lose confidence/trust in stablecoins.
Considering that the crypto market is full of risks, one must proceed with caution to avoid a financial disaster in the long run. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about.
At least for a short period of time. Just like what happened with Terra/Luna.
This is another thing that scares me about this whole thing. Many people have not recovered from the shock of the Terra/Luna collapse and we experience something like that again, it will be a huge blow to cryptocurrency in general. 
More people are buying or wants to invest in bitcoin and most of them if not all are using USDT to buy bitcoin for themselves and what better thing to do than to just "print" more USDT, so I do think that the increase of USDT could be because the price of bitcoin is skyrocketing not to mention that some fools are hodling their USDT and they need a way to make sure that those that are selling their bitcoin and other crypto can still get their USDT, I don't believe that the increase in USDT is the reason for the price surge though, a lot of stuff happens in bitcoin market that could influence the price surge like the ETF, that's why I believe that it's not the case.
The recent surge in Bitcoin's price, possibly fueled by Tether's USDT release, has defied historical trends. Predicting specific numbers is difficult, but reaching $70-75k before April seems plausible. Doubling the previous all-time high to $150k is ambitious but not impossible
It's all because of the "ETF hype". More money is being poured into the crypto market, which is a good sign for long-term "hodlers". But stablecoin issuers' recent move, should raise a red flag to the whole market. If all blows up, expect prices to go all the way down the drain in an instant. There will be a massive bloodbath never before seen in the history of crypto.
ETF hype lasts for some months since the court 'rules in favor of Grayscale' and appearance of BlackRock among companies submit Bitcoin Spot ETFs make people strongly believe in approvals from SEC.Finally it happens in January 2024 but months before that, Bitcoin price rose from below $30,000 to above $45,000 before having a correction.
Pomp has a talk about it there.
Bitcoin enters price discovery. There is a chart with notes on this for price changes and events.
The money still is flowing into crypto.
MSTR selling convertible notes to buy $500M more of BTC, and last week they bought $800M
USDC printed $370M in the last 2 hours
And the biggest of all was yesterday we had a record $1B in inflows to the etfs.
Going to be a ATH every day.
MSTR selling convertible notes to buy $500M more of BTC, and last week they bought $800M
USDC printed $370M in the last 2 hours
And the biggest of all was yesterday we had a record $1B in inflows to the etfs.
Going to be a ATH every day.
It's all because of the "ETF hype". More money is being poured into the crypto market, which is a good sign for long-term "hodlers". But stablecoin issuers' recent move, should raise a red flag to the whole market. If all blows up, expect prices to go all the way down the drain in an instant. There will be a massive bloodbath never before seen in the history of crypto.
I'd advise anyone to steer clear from stablecoins (particularly Tether/USDT) just to be safe. Only use them if you want to do day-trading or protect yourself against short-term volatility. Long-term speaking, you should consider cashing out your crypto directly to your bank account. Who knows what surprises we'll find in the future?
Tether's CEO,Paolo Ardoino,addressed the speculation ,clarifying that the newly minted $l billion USDT is reserved for future issuance requests and chain swaps. This authorized but not issued transaction serves as inventory for the upcoming needs.
https://coinpedia.org/news/tethers-surge-to-100bn-market-cap-mints-1bn-usdt-as-bitcoin-price-hit-65000/
I cant say anything but TBH, it's the real capital that surged the price in craze mode, I was even shocked haha everything happened so fast, ETF made a huge impact on the trust of retail investors and especially in those investors who were already connected to the market and now they are crazily accumulating the available supply, I'm curios how the market will meet the upcoming supply demand because there are just a few percentages of supply available and on that supply as well ETF companies trying to snatch opportunities in future we'll even see the over-valued buying zone pump by the retail investors.
Just an amount like newly minted USDT cant push the market this hard.
Just an amount like newly minted USDT cant push the market this hard.
The money still is flowing into crypto.
MSTR selling convertible notes to buy $500M more of BTC, and last week they bought $800M
USDC printed $370M in the last 2 hours
And the biggest of all was yesterday we had a record $1B in inflows to the etfs.
Going to be a ATH every day.
MSTR selling convertible notes to buy $500M more of BTC, and last week they bought $800M
USDC printed $370M in the last 2 hours
And the biggest of all was yesterday we had a record $1B in inflows to the etfs.
Going to be a ATH every day.
someone said the US government is printing USD to buy BTC. it's hard to believe it because we know also the government wants to keep USD as the main currency but if they keep printing this fast, the inflation will be much higher. the issue with minting USDT is that Bitfinex has been very dubious with their transparency. there was a group of individuals requesting audits for USDT before and they speculated the amount of USDT is never backed by real USD.
it's a wonder why the company is yet still not called by authorities since other actors like Paxful were stopped from minting BUSD while they were proven to have backing.
If they're doing that, won't it make BTC more expensive in the long run? The higher the inflation, the more valuable Bitcoin will be. It's a dumb move to be honest. If the FED wants to make Bitcoin cheaper, then raising interest rates would be the way to go (contributing to a stronger USD). Tether/USDT's actions are totally independent from the US government. I think it's increasing the supply to manipulate the market to its own favor. After all, most crypto assets depend on USDT as some sort of reserve currency (besides BTC).
Imagine what harm USDT will cause the crypto market if it goes all the way down the drain in an instant. It will be Terra/LUNA all over again. I'd steer clear from USDT unless it provides regular audits of its USD reserves. With or without USDT, Bitcoin will be here to stay.
The month of march has been a bearish period for Bitcoin since it's history and a lot of whales predicted it's price to go below 60k and probably rise again after March in the anticipated halving towards April.
Are you sure that you're not making a mistake here from what you're saying, maybe you're intended for bullish instead of bearish because bitcoin has been bullish since last month till now, maybe we may experience a little of its bearish any time soon or later in March, but as for now, we are still bullish in bitcoin market price, try and recheck your statement if something is not missing from what you've already intended top portray.
Ahhh. Buddy nothing to worry about so far March has been a good year until now as we are watching Bitcoin making higher highs from the last month and now already at ATH, what OP is talking about is a heavy shake and I can logically and technically agree with OP that so far Bitcoin is already at ATH and greed index is on its peek so there will be nothing shocking if Bitcoin makes a toward move by this week to revisit at 65k to 60k range to liiqudte all the long traders and then shot traders.
That's the reason we need to realize about saving profits to take re-entry in the market and that might be the last opportunity of the entire cycle. We are already in the distribution zone. So DYOR before any entry.
someone said the US government is printing USD to buy BTC. it's hard to believe it because we know also the government wants to keep USD as the main currency but if they keep printing this fast, the inflation will be much higher. the issue with minting USDT is that Bitfinex has been very dubious with their transparency. there was a group of individuals requesting audits for USDT before and they speculated the amount of USDT is never backed by real USD.
About that nation government and their action to buy bitcoin with USDT, I can not answer you as I have no evidence about it.
https://tether.to/en/transparency/#reports
Report https://assets.ctfassets.net/vyse88cgwfbl/7DZ8nVyr8zTaWhJqTIsMsH/b8e55bc151c9bb74adf20ff840e84088/ESO.03.01_Std_ISAE_3000R_Opinion_31-12-2023_BDO_Tether_CRR_RC134792023BD0684__1_.pdf
The value of Corporate bond owns by Tether is $44,412,069.
someone said the US government is printing USD to buy BTC. it's hard to believe it because we know also the government wants to keep USD as the main currency but if they keep printing this fast, the inflation will be much higher. the issue with minting USDT is that Bitfinex has been very dubious with their transparency. there was a group of individuals requesting audits for USDT before and they speculated the amount of USDT is never backed by real USD.
it's a wonder why the company is yet still not called by authorities since other actors like Paxful were stopped from minting BUSD while they were proven to have backing.
I don't see anything to do with USDT being the stable currency USDT driving bitcoin growth. Bitcoin's value is increasing with the halving and will further double during the bull season. Bitcoin's development will remain untapped and there is no need for investors to be stable. Bitcoin is a volatile currency and will continue to rise as long as the bull run lasts.
The month of march has been a bearish period for Bitcoin since it's history and a lot of whales predicted it's price to go below 60k and probably rise again after March in the anticipated halving towards April. However we saw a different case this year and instead of BTC going down it has attained a high of 65k today which is close to the price of the All Time High in the last Halving by Nov 2021 which was about 69k if I'm not mistaken.
Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus. This has made lots of crypto enthusiasts wonder if the billion dollar release by Tether is the driving force behind the resurgence of Bitcoin, what do you think about this?
Well in own my speculation I think Bitcoin could attain a height above the previous ATH of 69k to 70 or 75k and above, before April. Also, if the previous ATH was about 69k there's a possibility that it could double that figure, maybe close to 150k. What's your say on this.
Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus. This has made lots of crypto enthusiasts wonder if the billion dollar release by Tether is the driving force behind the resurgence of Bitcoin, what do you think about this?
Well in own my speculation I think Bitcoin could attain a height above the previous ATH of 69k to 70 or 75k and above, before April. Also, if the previous ATH was about 69k there's a possibility that it could double that figure, maybe close to 150k. What's your say on this.
1.March was a bullish month, not bearish. You should read more and learn the meaning of "bulls" and "bears".
2.One billion USDT isn't enough to pump the Bitcoin price. Why would a stablecoin be helpful for pumping the price of a volatile coin like BTC?
Stablecoins are being used to hedge the risk of price drops. The traders sell volatile coins for stablecoins, not the opposite.
The Bitcoin ETFs approval and the hype around the upcoming Bitcoin halving are the driving force behind the bull market. I don't believe that Bitcoin could hit a price above 100K in 2024. The selling pressure at 70K would be too big and we might witness a price correction.
Bitcoin has its market with buyers and sellers. In this market, there are buying and selling demands and price rises if demand on buying is bigger than demand on selling.
Minting Tether USDT stable coin gives the market a new source of capital, that will be used in the market. It is logic to think new USDT supply will be used for buying and price will rise consequently.
If they need to dump the market, they don't need to mint more USDT stable coin.
Minting Tether USDT stable coin gives the market a new source of capital, that will be used in the market. It is logic to think new USDT supply will be used for buying and price will rise consequently.
If they need to dump the market, they don't need to mint more USDT stable coin.
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