2020 Tether Market Cap Correlation to BTC Price Action
Interesting correlation between Tether market cap and BTC price action. So far in 2020, Tether market cap pumps have acted as a precursor to big BTC rallies.
Tether market cap pumped on:
1/6/20: BTC rose 43.06%
4/1/20: BTC rose 56.9%
Average 2020 BTC move following a Tether market cap pump = 49.98%
We just saw another Tether market cap pump on 5/14/2020. If the trend continues and BTC makes the average 2020 move (49.98%), $14k - $15k BTC incoming.
Will be interesting to see if the trend continues.
Tether market cap pumped on:
1/6/20: BTC rose 43.06%
4/1/20: BTC rose 56.9%
Average 2020 BTC move following a Tether market cap pump = 49.98%
We just saw another Tether market cap pump on 5/14/2020. If the trend continues and BTC makes the average 2020 move (49.98%), $14k - $15k BTC incoming.
Will be interesting to see if the trend continues.