Wow!!! Value of Bitcoin to $ 6,900 due to Tether (USDT) intervention
An injection of $ 50 million worth of tokens was made by the Tether Treasury to intervene in the market.
This intervention has almost instant effects on the performance of many coins.
After the intervention, Bitcoin jumped from a range of $ 6,700 to $ 6,903.07
In the past few weeks, interventions still have relatively slow effects. This time, it took weeks to bring BTC back to near $ 7,000, and this price increase was only used by traders to take short profits.
The last year Tether injected a lot of coins and that boost BTC to 20.000!!! What they have in common? I mean the quantity, they injected more today and rise up 6.903, what do you think? Certainly tether affects BTC but the question is how? we have the quantity of tokens as a sample.
maybe bitcoin prices will rise quite a lot, but it's not certain whether the value can be large like that. The sentiment of using bitcoin in various countries is now less likely because many countries prohibit the use of bitcoin for transaction activities. this affects the movement of the value of bitcoin which feels increasingly difficult to rise.
It's nice to see the price rise for once if nothing else. We will see if it can hold this for a few days now.
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