How does $100 million USDT printed stimulate BTC rally?
USDT, as the largest scale stablecoin, plays an important role in crypto market, affecting the market trend. Everytime when Tether Treasury prints new USDT, Bitcoin price will switch to an upward momentum. However, no one knows whether USDT issued by Tether is 1:1 against USD. According to Bexplus analysts, in general, Tether will issue new USDT so as to regulate USDT’s supply-demand in the market. As traders increasingly step into the crypto market, USDT’s demand also increases, which also creates chances for new $100 million USDT printed without foundation.
Though USDT is considered as “central bank” in cryptocurrency area, Libra and other stablecoins’ issue will gradually challenge the position of USDT. In addition, according to a new Memorandum of Law filing by the New York Attorney General’s office, both Bitfinex and Tether gave loans in USDT to investors in the last one year. These two news has also directly stimulated bitcoin price rising, because “hodlers” concerned about USDT’s depreciation and exchange usdt to btc for hedging.
Will BTC stand above $14,000 again recently?
In the past 2 days, we saw a solid upward move in bitcoin price above $12,200 and $13,000 resistance against US Dollar. Later, it consolidated lower from the $12,900 resistance area. The bulls remained in action and the price remained supported above $12,500. Besides, a new weekly high was formed at around $13,100 and it is currently correcting gains.
Look at the 15-min chart, bitcoin price seems to be preparing for further upside move above the $13,200 level. Though BTC is rising higher, it is not assured that it can pertain its positive trend for a much longer period or that, its bearish range will be less impactful. The market condition, still very highly volatile, whether to break above $14,000 is definitely not guaranteed.
Profit on BTC price fluctuation with BTC margin trading
Margin Trading allows traders to take advantage of the price volatility and open positions with leverage. Leveraging is basically using borrowed cryptocurrency with which to trade. Besides, with margin trading you can not only long buy, but short sell based on your market predictions.
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If you’re a skilled trader, bitcoin futures look like a viable alternative to btc spot trades based on the current market trend. For traders with small amount of money can also get bigger gains with leveraged futures trading. But if you’re a swing trader or long-term “hodler”, btc spot might be less stressful and of lower risk.