Bitcoin Price ‘Coiling Up’ For $10K, Says Max Keiser As Tether Hits Record $3B Market Cap

2019-5-25 19:00

Bitcoin industry figures are throwing their weight behind predictions Bitcoin price will reach $10,000 soon as Tether’s market cap passes $3 billion.

$10K BTC Next?

Stablecoin Tether, whose issuing company has continued its activities as normal despite an ongoing US court case, increased its supply by 100 million USDT tokens May 24.

The release coincided with Bitcoin price reclaiming its position at $8000, where it has mostly stayed since, reaching local highs of $8170 Friday.

Now, bulls are poised to welcome another significant Bitcoin price barrier returning: $10,000 – a level BTC has not seen since March last year.

Among them was Max Keiser, who linked to a mainstream media analysis suggesting Bitcoin was “coiling up” in order to hit a five-figure price. The wall street veteran previously reaffirmed that BTC is on its way to $100,000, saying it’s inevitable as the BTC still hasn’t reached its full potential.

As Bitcoinist has reported, printing of USDT traditionally impacts Bitcoin price, introducing volatility while sustaining BTC/USD 00.

In April, after several weeks of supply inflation, Tether’s $2.83 billion market cap broadly mirrored Bitcoin’s performance through the month. Since April 1, BTC has transformed, going from $4100 to $8100.

Tether Court Case Loses Steam

For Tether, pressure which began later in April with an indictment against both it and sister company, exchange Bitfinex, has also lessened in recent days.

A New York court dealing with accusations of mismanagement from the jurisdiction’s Attorney General appears to be increasingly in favor of the defendants, Bitcoinist reported. Having agreed the charges brought by the AG were overly wide, the presiding judge, Joel M. Cohen, has scheduled a hearing to dismiss the case entirely on July 29.

“We welcome Justice Cohen’s decision, which reflects that our motion raises significant legal challenges to the validity of the Attorney General’s actions,” Tether responded in a statement this week.

This order is another victory in the ongoing defense of our businesses against the New York Attorney General’s overreach, and it comes on the heels of Justice Cohen’s ruling last week granting our motion to significantly narrow the injunction against our businesses obtained by the Attorney General.

Executives have further revealed that as yet unknown “big news” will shortly be made public.

Meanwhile, Bitcoin markets more generally appear less fazed by events from within the ecosystem in the 2019 bull market. Worries over a hack of fellow exchange Binance earlier in May, like the court case, only succeeded in suppressing Bitcoin price for a matter of days before a rebound set in.

What do you think about Tether’s market cap and Bitcoin price impact? Let us know in the comments below!

Images via Shutterstock

The post Bitcoin Price ‘Coiling Up’ For $10K, Says Max Keiser As Tether Hits Record $3B Market Cap appeared first on Bitcoinist.com.

origin »

Bitcoin (BTC) на Currencies.ru

$ 102193.53 (-0.22%)
Объем 24H $43.148b
Изменеия 24h: -1.94 %, 7d: -2.11 %
Cегодня L: $101581.06 - H: $102731.19
Капитализация $2025.266b Rank 1
Цена в час новости $ 7990.18 (1178.99%)

bitcoin price tether market cap 10k record

bitcoin price → Результатов: 126


Bitcoin Price Remains Bullish As Monthly Stochastic Sits Above 80, Here’s Why

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]

2025-1-15 18:30


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Are Bitcoin Whales Still Holding For Higher Profit? This On-Chain Signal Suggests So

The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]

2024-12-15 12:30


Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained

After reaching a new all-time high of $99,600 last Friday, the Bitcoin price has retraced to the $94,000 mark for the first time in nearly a week. This pullback comes amid growing speculation about a possible correction following a massive three-week uptrend that saw the leading crypto surge by 40% after Donald Trump’s election on November 5.

2024-11-26 10:30