The perfect storm is brewing for bitcoin prices...
When the price of Bitcoin goes up, one might assume the buying pressure is coming from stable coins...
However, that is not the case currently.
A quick glance at this chart shows that the number of tethers in circulation is going up right along with the price of bitcoin.
Something that one might not expect if money was simply sloshing from crypto asset to crypto asset....
(Source:
Instead we are seeing both rise together, which can only mean one thing...
Can you guess what that one thing is?
It means new money is coming into the market and new money is moving both into tether and BTC.
The more money that comes into the crypto market the better, even if it doesn't all go into BTC right away.
Tether, and other stable coins, have long been looked at as dry powder so to speak, representing potential buying power for bitcoin should the right catalyst present itself.
And as it stands right now there has never been more dry powder available for ol bitcoin, even at a time when it is climbing ever closer to its all time highs.
The perfect storm is brewing indeed.
Stay informed my friends.
-Doc
Good news.... I need to buy more on the dips.
Well... you probably should have been buying several months ago for the best prices! :)
Yeah... I was buying. Whatever I could afford.
Now you are earning all these altcoins so you have more cash, is that it?
Well... I am earning alt coins to have alt coins and Buying Bitcoin in small amounts with U S dollars.
I see. Altseason should be coming at some point here.
Especially for Steem and TRON
Last time it included just about every coin within the top 300 on CM.
Perfect storm is a dangerous movie. I feel pretty for them who sink there. Your theme of analysis with the storm is nice.
Yea, not really related to the movie, but thanks.