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$100 Million Tether To Buy Bitcoin?

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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

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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