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$100 Million Tether To Buy Bitcoin?

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Tether

This Sunday, September 2nd, a large shipment of Tether (USDT) was sent to a cryptocurrency exchange called Bitfinex, as reported by Crypto Trader’s host, Ran NeuNer. Many are expecting a large price surge from Bitcoin (BTC) since moves like this in the past usually indicated that Bitcoin’s value is going to skyrocket.

New BTC price surge about to arrive fro Tether?

It would seem that a large change in the crypto market is coming, which is just what the investors have been waiting for. According to a recent tweet posted by ran NeuNer, Crypto Trader’s host, around $100 million new Tether (USDT) coins were sent to Bitfinex only days ago.

In the past, whenever something like this happened, it usually meant that Bitcoin’s own price is about to go through the roof. Tether movement has always been one of the biggest indicators that something big is about to happen, and investors around the world are jumping on an opportunity to make a profit.

When stablecoins like Tether are shipped off to an exchange, it usually means that a whole lot of BTC is about to be purchased. This has happened on a few occasions in the last few months — on July 24th and August 21st of this year. Both times, the move was followed by a significant price surge, with BTC rising by $800 in July and $650 in August. Of course, the market usually turned around pretty quickly, still being in the claws of the bears at the time. However, the situation might be different this time.

Can the signs be trusted?

Of course, everyone understands that this is no guarantee that BTC will actually rise, as nothing is ever certain when cryptos are involved. However, the investors have been looking for a sign of a big bull run for months now, and this is as close as they will ever get to receiving one. At the time of writing, Bitcoin’s price is at $7,297.07, and it moved up by only 0.71% in the last 24 hours.

Still, it would seem that the investors are making their own preparations, with a number of short positions on Bitfinex experiencing a rise on its own in the last few days.

In fact, one of the largest ones was a 10,000 BTC short position, which has surprised even the most experienced investors.

This was followed by $100 million Tether moving to Bitfinex, and the two were quickly tied together by investors, which started speculating about what is coming. Different analysis’ of these events popped up all over Twitter, but one of the Placeholder Management’s partners, Chris Burniske, might have presented the situation the best, in a series of tweets.

Burniske explained that the increase in the number of short positions might be good or bad, depending on the viewpoint. From the momentum perspective, such increase can mark a really good time to pile on. However, a contrarian perspective says that a lot of short positions might serve as so-called “rocket fuel to the upside”, in case that the short positions are simply wrong.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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