Tether Minting is Behind one of Bitcoin’s Biggest Rallies in 2019 – Andrew Rennhack

2019-8-8 22:24

According to LongHash, Bitcoin’s price is largely driven by Tether’s price, so Tether is a very good predictor of the Bitcoin price. Although this conclusion does not resonate with the entire crypto community, some Crypto Twitter personalities seem to believe it and consider it as not just a price predictor but as the push behind Bitcoin’s price surge.

Bitcoin started its journey upward at the very start of April and rose from ~$4,000 to almost $14,000 before experiencing a dip to $9,000 recently. A cryptocurrency analyst, Andrew Rennhack says Tether (USDT) has been the force behind Bitcoin’s price gain all along. His conclusion comes from the opinion that Bitcoin is not sound money and so lacks the capability to experience such a price surge by itself.

Not Institutional Investors

There may be several in the crypto space who would disagree with Rennhack, majorly because they believe the rally was driven by the influx of institutional investors into the industry.

As a matter of fact, some analysts say the current bull market is likely to last longer than that of 2017 as it is driven mainly by investors and the general public developing appreciation for cryptocurrency rather than because of the hype that led to 2017 bull run.

Even the choice of Bitcoin as a safe haven for investors due to the lingering U.S-China trade war is not an acceptable explanation for the rally as far as Rennhack is concerned. He says there has been a massive Tether minting exercise that ran concurrently with Bitcoin’s fastest price gains and so is the only explanation for the rally.

What Happens When Bitcoin Hits $100,000

Rennhack’s idea suggests that Bitcoin is solely dependent on Tether for its growth. However, some people like Max Keiser believe Bitcoin will rise to $100,000 and not together with altcoins which Tether is one of.

Keiser has predicted since 2011 that Bitcoin will kill every altcoin on its way to his expected $100,000. Does it mean Keiser is wrong or Tether will thrive along with Bitcoin?

The post Tether Minting is Behind one of Bitcoin’s Biggest Rallies in 2019 – Andrew Rennhack appeared first on ZyCrypto.

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Источник: zycrypto.com

tether price → Результатов: 126


Фото:

‘Crypto Virgins’ Are Driving The Price Of Bitcoin

Very recently, news has found that stablecoin, Tether, has been accused of being used to manipulate the price of Bitcoin. You can see our coverage of this story, here- https://cryptodaily. co. uk/2018/06/new-reports-find-that-tether-is-being-used-to-manipulate-bitcoin-price/ We all know that the cryptocurrency markets are volatile and thus, we all know that lots of influencing factors can change the price of Bitcoin, be that political, traditional-financial or indeed, crypto-financial.

2018-6-26 13:30


Tether Prints 250 Million Tokens, Nearly Ousts Tron as 10th Largest Crypto

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2018-6-26 23:30


Черная Пятница криптовалют - 50 криптовалют, которые росли, когда все остальные падали.

Не все так плохо в датском королевстве криптовалют! 50 валют, к которым нужно присмотреться - они росли, когда весь рынок лежал и даже не думал отжиматься. Потери колоссальные! Капитализация рынка криптовалют за сутки 22 июня 2018 года снизилась более чем на 30 миллиардов. Смотрите и изучайте ниже в таблице.

2018-6-23 10:00


Фото:

‘Really Un-Tethered?’ Bitcoin Price Manipulation Returns With New Research

Days after Tether (USDT) gained a higher market cap than Monero and Dash, new research has reignited suspicions that the altcoin “manipulated” Bitcoin prices.   Cryptocurrency Highs Fuelled By Tether The product of two researchers at the University of Texas, the paper — titled Is Bitcoin Really Un-Tethered? — claims to have identified potential evidence of direct price manipulation since November 2017.

2018-6-13 20:00


Фото:

Research shows Bitcoin’s price increased due to tether manipulation

The U.S. dollar-pegged tether has been used to support bitcoin’s price during market downturns, a new study published by University of Texas at Austin professors. The published study states that the researchers used “algorithms to analyze the blockchain data, we find that purchases with tether are timed following market downturns and result in sizable increases in bitcoin prices.

2018-6-13 19:31


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