Craziest Chart in Crypto Shows Billions of Dollars Set to Pour Into Bitcoin, Says Top Analyst

Craziest Chart in Crypto Shows Billions of Dollars Set to Pour Into Bitcoin, Says Top Analyst


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A leading crypto analyst says the rapid expansion of one of the largest digital assets by market cap is a remarkably bullish sign for Bitcoin.

The highly-cited pseudonymous analyst, known in the industry as Filbfilb, says the $10.9 billion rise of Tether (USDT) in 2020 suggests traders are storing their capital in the dollar-pegged stablecoin as they prepare to buy BTC.

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The analyst notes USDT expansion – which has been on the rise since the coronavirus-related market crash in March – has historically preceded Bitcoin price increases. And Tether has expanded massively in the past month alone, he says.

“Since 30th August, USDT expansion has been $5 billion – that’s [a] 50% increase… FIFTY – that 50% is greater than the ENTIRE USDT cap that took BTC to $14k last time… AND price retracted since by c. 10%. I don’t subscribe to Tether conspiracies, but I do subscribe to supply and demand.

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