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Charlie Lee Suggests The Newly Printed Tether (USDT) are Signs Of a Bullish Crypto Market

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Some $250 Million worth of Tether (USDT) were minted just yesterday on the 25th of June. This has enabled the stable coin to leap past Tron (TRX) on coinmarketcap and according to market capitalization.

Tether (USDT) Edges out Tron (TRX) on coinmarketcap.com

The first to note the new USDT addition was the FOMO Bot on Twitter which posted the following:

Charlie Lee, the founder of Litecoin (LTC) was quick to comment on the newly minted USDT and had this to say:

Mr. Lee suggested that whenever Tethers were printed, the markets generally went up. Perhaps this is why a pair of researchers at the University of Texas (Austin) believed that USDT was used to prop up the price of Bitcoin (BTC) whenever the markets were in turmoil.

Charlie Lee’s observation hints at another way Tethers are used by crypto traders. When they deposit regular fiat in the form of USD, they get USDT in exchange. USDT is the de-facto digital version of the US Dollar in cryptocurrency exchanges. This is the current method of representing the USD on the blockchain. What then happens is that traders buy Crypto with the USDT. Charlie Lee also cautioned that the buying might not be right away and that all traders should do their own research before coming to any conclusions about the crypto markets.

With respect to the cryptocurrency markets, the panic that was experienced from last Friday has somewhat subsided. The total market capitalization has remained steady at levels above $250 Billion. The figure now stands at $252 Billion with Bitcoin (BTC) increasing its dominance to 42%. Normally, this dominance is stable at 37%. This means that in times of turmoil, many traders either cash out or buy some more BTC which seems to be a stable option to the numerous alt-coins out there.

However, many crypto analysts believe that we are not out of the woods yet. They believe that Bitcoin (BTC) might decline a bit further in the coming weeks as the correction comes to an end. After that, is when we will see the much awaited bullish crypto market.

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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

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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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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