Tether injects 6 billion USDT into the cryptocurrency market, which in turn increases the likelihood of a BTC rally.
Tether’s $6 billion USDT injection into the market has resulted in Bitcoin trading within Wednesday’s range, with the potential for further capital gains.
According to Satoshimeter, Bitcoin has additional potential for growth, and historical cycle analysis indicates that its highs could extend to $200,000 to $500,000.
As of now, Bitcoin’s price remains within the trading range of Wednesday’s session. It experienced an impressive bullish surge that commenced at the beginning of the week.
The coin is currently trading at a minor discount to $91 500, following a 20% increase since November 10, when it reached a new peak of $93,433.
Tether has recently issued an additional 2 billion USDT on Ethereum and Tron. Over the duration of eight days, this amounts to the 8 billion USDT that was recently issued.
As of now, the cryptocurrency market has received a total of 6.067 billion USDT. The transfer of a substantial portion of the funds to cryptocurrency exchanges like Kraken, Binance, and Coinbase.
These inflations in liquidity can significantly impact Bitcoin. This has the potential to elevate the price of Bitcoin to a higher level, potentially surpassing $93,000, thereby bringing it even closer to establishing another record high.
The report indicates that Kraken has acquired the highest percentage, with Binance Coinbase metrics following in that order.
These injections depict a significant increase in liquidity. It is either a reflection of the market’s preparedness for anticipated price adjustments or a reflection of the potential for increased trading activities.
Aurelien Ohayon examines the price cycles of Bitcoins from 2014 to 2017. I anticipate that the cycle will occur between 2022 and 2025, which may provide an opportunity for a new bull run.
The analysis illustrates the three phases that occur in each cycle, correspondingly represented by an index of 1, 2, and 3, each of which experiences a remarkable price increase.
The analysis commences with a wedge that is intended to descend (phase one) until it ultimately breaks free, thereby achieving its objective of ascending.
Following a halving, a phase of continuous increase (phase two) ensued. The third phase represents a situation in which the values reach their greatest point, which is also the highest apogee in relation to the bull run.
The anticipated cycles for 2022-2025 exhibit an approximate resemblance to the structure of the previous bull market.
Proposing that Bitcoin may surpass its all-time peak following the forthcoming halving event. A green box on the chart indicates the approximate price targets. If this trend persists, they are within the range of $200,000 to $500,000, which indicates that a significant bullish trend is imminent.
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