Bitcoin Forum

 The month of march has been a bearish period for Bitcoin since it's history and a lot of whales predicted it's price to go below 60k and probably rise again after March in the anticipated halving towards April.  However we saw a different case this year and instead of BTC going down it has attained a high of 65k today which is close to the price of the All Time High in the last Halving by Nov 2021 which was about 69k if I'm not mistaken.

 Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus. This has made lots of crypto enthusiasts wonder if the billion dollar release by Tether is the driving force behind the resurgence of Bitcoin, what do you think about this?

 Well in own my speculation I think Bitcoin could attain a height above the previous ATH of 69k to 70 or 75k and above, before April. Also, if the previous ATH was about 69k there's a possibility that it could double that figure, maybe close to 150k. What's your say on this.

Are you sure that you're not making a mistake here from what you're saying, maybe you're intended for bullish instead of bearish because bitcoin has been bullish since last month till now, maybe we may experience a little of its bearish any time soon or later in March, but as for now, we are still bullish in bitcoin market price, try and recheck your statement if something is not missing from what you've already intended top portray.

You kind of miss his line of point, OP means bearish month for Bitcoin in its History and not that this month is a bearish month so far for Bitcoin, but I guess in the past pre-halving years he's talking about.

And to answer your question OP, definitely I guess this is part of the reason and not mainly the reason because on before the new Tether were printed, Bitcoin already started gearing up for this move, but now it will act as a catalyst to help get the price of Bitcoin where it's headed to, and besides where do you expect those minted Tether USDT to go into? Definitely buying of Bitcoin and other cryptocurrencies as well.

If we'd take a look on 2017 bull run. It was one of the major reasons they've said why Bitcoin has pumped. I guess there's a driving force for the price of BTC to move up and newly minted Tether did helped on it.

But this time, it's not a major thing but just a helper to what it is right now. We've got several great contributors and one of it is the major driving for of this bull run which are the bitcoin spot etfs.

When there is a tether print and the market cap goes up it means that money is flowing into the crypto market. Now it doesn’t mean they are buying bitcoin. They can be buying Ethereum or some other alt coin, they can just keep it in USDT and just use it as margin for trading or they can even just lend the USDT for some APR gains.

But in general, it’s bullish. It’s because money is being fed into the market and it will help the system grow overall. It’s rare for tether to have burns but it does it happen. Usually when market peaked, the supply is flat and during a long bear market there might be a tether burn or two. But in the long time frame it usually goes up.

We are nearing $100B as I type this. I think we got $500M to go.

If there is a driver for the rally, it is not USDT but the inflows into the Bitcoin ETFs. Currently 900 BTC are mined per day, but the Bitcoin ETFs have to buy around 10k per day to fullfill the demand. This means that around 9k are being bought on the open market every day, which creates a lot of buying pressure. This naturally attracts speculators, who ensure that prices continue to rise.

I read an article in a business magazine a few days ago that if the inflows into the ETFs continue as they have in the last two weeks, then USD 45 billion will flow into the Bitcoin market through the ETFs alone by the end of the year. You can imagine what that would mean for the price.

While I'm not a professional trader or financial advisor, I personally think that Bitcoin will break the previous ATH. My bias is that, there are many people that are longing it because they feel that the price will break previous ATH and one fact about trading is that when many traders are after a particular zone, there is a high chance that it would become a self fulfilling prophecy. Right when BTC broke through $60K, I knew it was coming for the ATH.

And if you're following the history, you would know that this time! It's a lot different. There's an ETF will over $17B in Bitcoin and big people ballers like Michael Saylor are all balls deep including institutions. How can we not be bullish?

Yep. It just means money is coming into the market.

People always claim when  new USDT is created it means they just created it out of thin air lol. I always wonder where do they think this magical money created out of thin air goes lol??! I've never heard of anyone being GIVEN tether for free.

Obviously Tether isn't simply created out of thin air as the conspiracies always claim, it is printed when people bring new fiat into the market and exchange it for Tether. And yeah as you say it doesn't mean all this money is flowing into Bitcoin, it just means a lot of people are exchanging fiat for Tether, which will in general go to Bitcoin or other cryptos or stay in Tether waiting for when they person wants to buy.


So to answer the OP's question: yes, a bunch of new money coming into the crypto market (some of which is being exchanged for Tether) is of course one of the driving forces for the surge of Bitcoin's price. Because people moving money into the market generally means more buy pressure for Bitcoin.

I bet you didn't read the 1st paragraph carefully or to the end cause if you did you would've understood my point instead of trying to find a fault in my statement, of course March haven't been very favourable for BTC over the years but there was a U turn this year unlike others cause instead of experiencing a Bearish market, we suprisenly saw Bitcoin surge very high to the point it is currently.

 I think you should try to read and understand properly before you conclude, I saw you only quote a part of my 1st paragraph to favour your statement, how about you had quote to the point where It stated "However we saw a different case this year and instead of BTC going down it has attained a high of 65k today which is close to the price of the All Time High in the last Halving by Nov 2021 which was about 69k if I'm not mistaken".

 We are all here to learn from eachother whether new or old users, and instead of going about discouraging we the newbies, you can as well learn from most of us or rather help us grow, thank you. Anyways I'll leave you a backup link for my statement, you could DYOR as well.
https://www.google.com/amp/s/coinfomania.com/march-the-most-bearish-month-for-bitcoin-why/amp/

March 2023: price goes from $21k to $29k
March 2022: price goes from $38k to $47k
March 2021: price goes from $45k to $59k
March 2020: is bearish: price goes from $9k to $6k
March 2019: price remains in $3k range for the most part
.... :)

It seems like what you call "whales" were just some idiots who couldn't read the charts to change their strategies based on the actual on going trends. They wished to go against the trend that started months ago and reversed the actual bear trend.
In other words they weren't predicting, they were wishing it.

Wrong. Because you are narrating a tiny portion of the trend!
Price started rising a long time ago and it has been breaking resistance after resistance at $30k, $40k, $50k, $60k, and soon the $70k. It is not like price had stayed at a fixed level with a completely flat chart with no rise then Tether printed some of its own shitcoin then that flat chart turned into a rising chart!!! It's been rising all along and this centralized shitcoin created more of its tokens to match the increasing volume and most importantly to get ready for the altcoin pump that always follows after Bitcoin starts rallying.

https://i.ibb.co/GHHYF4V/images-11.jpg (https://ibb.co/wccGYFK)

https://i.ibb.co/7rKLvrw/images-7.jpg (https://ibb.co/ssqzjs0)

 Well the OP might be making sense if you ask me, cause if you watch those images closely you'll see that the month of March has been mostly on a  bearish market than bull in the history of Bitcoin, you'll also notice that since 2011 to 2021 it's been on the bear market 8 times and have only been bullish in 2013, 2016, 2019, 2021, and which was the last halving period.
 And if you also notice the second image as well you'll see that they both give accurate same information, it's not as if bitcoin has never been bullish in the month of March before now, you can see that 2013, 19, 21 and 22 where all bullish but the message I think what the OP was trying to pass is that since 2011 or so it's been more bearish than bullish. However some people expected a bear season this March before the halving but there was a U turn this year or would I rather say it didn't go as they predicted.
 That's why it's good for people to DYOR about Crypto currency instead of listening to speculations from the so called whales or paid advertisers. I won't be suprised that a lot of people would be mislead by those predictions and probably sell their coins cause they thought this March would experience a bear market as predicted by people on the media.

You are probably referring to the rumors that were circulating in the past when it seemed that Tether was used to artificially pump the Bitcoin price. While I think that back at the time it probably was the case, there is now more risk for any company running a stable coin to do that as the crackdowns on market manipulators and other scammy activities have become far more severe.

Since its public knowledge, the moment that Tether prints a billion dollar worth of USDT, I am pretty sure that they would be highly careful to abuse those USDT for any illegal purposes. Because chances are high that the SEC or any other authorized institution will investigate how those funds have been used.

But this still doesn't mean that the market isn't being manipulated at all at the moment. Huge players could pump the market slowly while keeping the volume high, making sure that the number of retail investors increases and buys into the surging price.

Does it matter anymore? They have been printing tether for years and nobody can't do anything about it. The authorities don't care, investors don't care. People are happy because crypto go moon. At this point we will take it seriously only when tether goes down and brings down everything with it. It already become too big to fail anyway. $ 100 billion we are talking about here. An asset that big won't go down silently. (if it does) It will leave a massive crater behind. So why even bother to discuss it? We will learn what tether was about when we are ready. Let's enjoy the ride and pretend it is not there.  8)

Makes sense. The whole many traders eyeing a zone thing often turns into a self-fulfilling prophecy. I mean when BTC busted through $60K, it felt like the ATH was just around the corner. Now with over $17B in a Bitcoin ETF and big names like Michael Saylor going all-in, it's hard not to catch the bullish wave. The game has changed and with institutions diving in, the excitement is through the roof

What are the chances that the amount of Tether that is minted will go 100% to Bitcoin? Exactly. So the chances of it being the driving surge of Bitcoin price isn't Tether minting. Maybe you might be aware of Bitcoin Halving? Supply Shortage? And all the interesting stuff around those words? That is what is driving the prices to go parabolic and we are already at the ATH of Bitcoin. And the ETFs, do not forget them. (I do not like them at all but still, they are bringing investors to BTC).

OP didn't use a modifier like "mostly" about March. In any case, Bitcoin isn't bullish or bearish because we are in a certain month. There are a large number of reasons why the market moves at any time the way it does.
Exactly why it is rising today. I just started a topic on this (https://bitcointalk.org/index.php?topic=5487636.0) another way of looking at the current rally is that simply Dollar is dumping.

This might have just been a coincidence, though. Which other evidence suggests newly minted USDT drives the Bitcoin price up? I personally see no connection between Tether's money supply and Bitcoin's demand.

Can you prove it otherwise? If Tether does not provide proof of reserve of all these billions of dollars, then what is their money supply apart from thin air?

haha. Has anyone ever proved the conspiracy theory that Tether prints money out of thin air? Nope. Despite people making that claim for many years there is zero proof its true. It's just a crackpot theory for conspiracy theorists and for people who want to argue that Bitcoin has no value because it's all from fake Tether money haha.

The people making the outrageous claim are the ones who have the burden of proof. So the people making the claim that zero people have ever actually exchanged dollars for tether, despite millions of people using Tether for many years, and that it is $100 billion of fake money...this is the outrageous claim. Until anyone shows any proof of Tether printing money there is no reason to believe the conspiracy theories.

I mean if any of these conspiracy theorists actually thought about how stablecoins work, they'd laugh at themselves. When fiat being exchanged for Tether outstrips Tether supply they literally have to create more Tether. Because the whole point is its a stablecoin. If they don't make create more money when more money is used to get Tether then the price goes above $1. Likewise when Tether decreases, if people are unloading the Tether supply if the company doesn't reduce the supply then there will be too much supply and the price will go below $1.

So whenever some conspiracy theorist says "OMG they printed more Tether!!!!!" and they're freaking out about fake money, they are actually just freaking out that new money is coming into the market and buying Tether. That's literally how stablecoins work lol.

But if you still believe the "Tether is entirely fake" after all these years I doubt you'll ever accept the common sense explanation.


According to your argument, if I don't show you proof of my bitcoin addresses then I don't actually own Bitcoin lol.



I'll be more than willing to accept that Tether prints out of thin air.....as soon as there is literally ANY EVIDENCE AT ALL that it's true. So far, after many years, zero evidence. While the simple dynamics of how stablecoins work perfectly accounts for why more Tether is created over time, same with any stablecoin that increases supply as the crypto world expands. The vast majority of the time the simple common sense answer is the truth buddy, not the conspiracy theory with zero evidence.

Thinking Tether is fake was sooooo 2017 haha. I actually can't believe people are still harping on about that lol

I bought a lot as ETN with EUR.

Edit. All time high today. I lend out BTC on Nexo now. Cheers.

Tether is in a way a private bank offering virtual crypto dollar for the sake of easing paperwork, transfers and arbitrage among traders, investors. Every mint is usually backed by previous wire. Still im sure there are some liabilities like with every bank and some shadow work, if everyone tried to cash out all the Tethers it will fail. I m also sure Tether is not the major force for BTC rise, it helps some sure. But still there are  bank wires, cash, direct payment for services e.g adoption and so on.

That's a weird way of putting it since the two are weakly linked. In other words even if you could manage to prove that Tether is not printing tokens out of thin air and is backed by dollar 1:1, you still have to prove that the tokens they print are going into bitcoin!
A quick look at the trading volumes shows that more than 90% of Tether trading volume is from its altcoin pairs not bitcoin... So if anything Tether printing is pumping altcoins not bitcoin...

If I argue that I have a billion dollars, so I can issue a billion BlackHatCoins, each pegged with a dollar, then the burden of proof lies on me. It is me who claims a positive, and needs to provide proof of reserves, not you to disprove that I don't have any; how could you ever accomplish such a thing in the first place?

It is not that I believe they have absolutely nothing in reserve; not having enough reserves is shady enough for me. In this post (https://bitcointalk.org/index.php?topic=5322147.msg56656992#msg56656992), it is demonstrated that Tether were capable to only provide evidence of just 14% of their "reserves". You can read more about it, and see yourself that USDT is not 1-of-1 backed by USD and they're essentially one big fractional reserve business.

In fact, I can't believe it's 2024 and people still put trust in stablecoins after all the incidents of stable coins and supposedly "legit" and "reputable" CEXes collapsing one after the other.

https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-600-million-of-convertible-senior-notes_03-04-2024
"March 4, 2024 — MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announced that it intends to offer, subject to market conditions and other factors, $600 million aggregate principal amount of convertible senior notes due 2030 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $90 million aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be noassurance as to whether, when or on what terms the offering may be completed."
__
Guys, you must agree that such euphoria cannot last long.

The fact that Bitcoin went to ATH before the halving, even though people largely expected it to happen well after it, just shows once again that Bitcoin halving doesn't have much to do with the price. The price can go up or down regardless of when halving happens.
As for USDT, I see news about it getting to a record-high market capitalization, but the news I can find about 1 billion new coins dates back to November 2023, which was a while ago (and it's only a couple of articles that mention it). So a source to back up that statement would be appreciated. Bitcoin is traded a lot in trading pair with USDT, so it might make sense that changes in USDT supply can affect Bitcoin price.

A billion dollars will not cause a change in the direction of Bitcoin, especially since the market capacity exceeds 1.3 trillion dollars. A billion dollars is a drop in the ocean, but the issuance of stable currencies leads to reducing the price of Bitcoin. The ease of converting Bitcoin into dollars makes the possibility of the price rising limited, as speculators can sell, exchange Bitcoin into stablecoins and then buy again.
If there were no stablecoins, I am sure that the price of Bitcoin would rise sharply and dump deeply.

I don't get your argument here. Where did I say Tether is all going into Bitcoin? I mentioned that Bitcoin haters like to use this conspiracy theory to attack Bitcoin and try to claim that Bitcoin's value is entirely built on "fake" money. I didn't say anything about where Tether goes. Obviously when people exchange dollars for Tether they put it into whatever cryptocurrency they want to.

So, usually when people bring up this conspiracy theory, they say Tether is 100% fake money. They say the whole thing is fake and all Tether is printed out of thin air. Which is of course completely absurd because that would mean nobody has ever traded fiat for Tether lol.

The whole way stablecoins work is people exchange fiat for the stablecoin and then the issuer holds the fiat. So the idea that its all fake and is worth $0 is just stupid. And yet this idea has persisted for so many years among the intellectually challenged...to put it nicely haha.

My other main point is if all this Tether is being printed out of thin air...where is it going??? I've never heard anyone ever claim they got Tether for free. Cuz if Tether is being printed out of thin air, then that means MILLIONS of people have gotten Tether for free. Or is the theory that all the exchanges are in on it or something lol and the entire global crypto exchange market is one big racket for Tether for some random conspiracy theory reason?, and the Tether company just hands out billions of USDT to exchanges so people can exchange fiat for it?? I've never seen the conspiracy theorists come up with a single piece of evidence to support their claim...after soooo many years of making the claims haha. While we all have evidence, simply by the fact that you can exchange fiat for USDT on most exchanges, that people are all the time literally buying 1 USDT for $1.

I think the one time I saw confirmation of Tether reserves it was that they only had like 78% backed or something like that because they got hacked I think, or maybe they were making risky investments with it. I dunno. I think no doubt they probably do some risky things with that money and haven't simply been holding the money in reserve like good little boys. Even Circle admitted a few years ago they weren't simply holding the funds for USDC and were trying to do stuff with that money. But the idea that its all just printed out of thin air, well thats an outrageous claim and it will continue to be a stupid claim until literally anyone can show any proof at all that Tether has ever printed any USDT out of thin air. Show evidence of what people/exchanges/etc are getting handed billions of USDT for nothing in return.


All I'm saying is, USDT is widely used and every day people are buying it with dollars, 1 to 1. So we know for a fact that USDT is not just fake money. Whether Tether the company has screwed up their holdings and done risky things, I have no clue. As I said at some point it was shown they only had like 70-something percent money backed, cuz of some theft or screw up, I don't remember if they had some sort of plan to fix that. That was like several years ago. I'm not arguing whether Tether has done everything by the book and has always had 100% reserves, because by their own admission it seems that has not always been the case. I'm saying that these lunacy "OMG Tether just printed another X billions out of thin air" claims by conspiracy theorists are just plain dumb. They ignore the obvious common sense explanation: lots of new money is coming into the market and USDT is the largest stablecoin so naturally lots of fiat is being exchanged for USDT which means a bunch more USDT needs to be issued, and instead they go with the "everything is fake" conspiracy theory haha. It's like the crypto equivalent of flat earthers lol.

So yeah, it amazes me that people still say Tether is fake in 2024. But I guess the type of people who are gonna believe this sort of nonsense in the first place are the type of people who are incapable of changing their mind or using common sense.

Anyway, I don't use Tether, never have, but whenever I see people making their crazy Tether claims I just think its both sad and funny and I get a good laugh that the same people are still making the same stupid claims after all these years with no evidence whatsoever and no use of common sense either haha.

Connichiua !

You are right Princess Leah. Bitcoin Price will rise much higher this year.  Imagine  one hundreds American Billionaires jumped to Bitcoin soon including Warren Bufffffffffffffet.  Bitcoin price will be million dollars.   The ultimate forecast is Bitcoin will soon match the gold reserve soon and it will be a bootstrap. 

What would Tether have to do with the bull run? In fact, printing more money is supposed to bring about inflation, which as a 1-1 peg with the dollar, is exactly what Tether is designed to do.

I'm pretty sure it's more about the impending halving than anything to do with other cryptocurrencies.


Tether at least has a significant amount of backing, even if it is not 100% backed by stuff.

Has it crossed your mind that Tether can issue USDT out of thin air and sell them as dollar pegged? Has it also crossed your mind that Tether would never make the catastrophic claim that they print money out of thin air?

I don't understand why it seems such a big conspiracy theory to you. We've experienced a lot of unethical business behavior in the crypto space years now, especially in exchanges and stable coins which were operating under fractional reserve banking, providing zero protection on behalf of them, completely lacking regulation and deposit insurance. There exist court documents (as shown in the link above) which present how they use all these centralized coins to bail themselves out and engage in illegal activities in general.

You probably don't understand how fractional reserve banking works: https://en.wikipedia.org/wiki/Fractional-reserve_banking. If you practice fractional reserve banking, then you can't have 1-of-1 peg. You might present that your system contains 1 million dollars, but it collapses the moment people attempt to withdraw 1/10th of them.

I still believe that this halving cycle will be different from the previous halving phenomenon. Big spikes can still be felt in the market, plus the remaining mined Bitcoins are running low, which can create aggressive demand. Having a new ATH created and seeing some whales withdrawing Bitcoin from exchanges to their wallets shows that this will be an important opportunity for them not to hand over the remaining Bitcoin to large institutions. Most of the Bitcoin entries and exits are from Coinbase, based on the reference I saw from @whale_alert, perhaps the intention is clear that behind the Bitcoin entries and exits is due to the increasing demand from Bitcoin ETFs.

For me, the most ironic fact about Tether/USDT is the fact that it relies on the biggest Ponzi scheme ever invented: the FED.

So yeah, even if Tether isn't a Ponzi scheme (highly unlikely, but let's assume for 1 second that it's a legit business), it doesn't really matter, because the FED is definitely a Ponzi:

https://pbs.twimg.com/media/EfHEtlJU4AA7lLg.jpg

So, if you don't trust the FED, why would you trust Tether? ::)

This is all a big House of Cards waiting to collapse... will it happen any time soon? Who knows...

Some people speculate we will see a bank collapse by March 11th.

I strongly doubt it. FED will start printing more money, just like they did back in March 2020 due to COVID.

I think it's far more likely to see a USD collapse in 2026-2027 during Taiwan's invasion (good luck if you hodl nVidia, Apple, AMD stocks ;D). Most people don't even know what TSMC is...

Lets not forget about the halving hype. There's FOMO spreading on the market as we approach the anticipated event (which is due on April). This is also one of the major driving forces for the "pump". I believe Tether is doing some shady stuff when printing new USDT. It could be nothing more than pure market manipulation.

I couldn't imagine what would happen if USDT crashes all the way down the drain in an instant. It will be a huge blow to BTC's market prices. Other coins will experience a prolonged bloodbath due to their dependence on BTC as a reserve currency. I sure hope Tether complies with regulators to provide some level of assurance to investors. As long as the company is able to provide proof of its USD reserves, there should be nothing to worry about. In the meantime, enjoy the Bitcoin hype while it lasts. :D

That's because most of these whales are people who experienced the previous cycles. People who watched bitcoin make new highs a year after the halving time and time again, but never before it, so it's obvious they'll expect this to continue.

The main driver is ETFs that are constantly buying. Tether could be contributing if they really hold as much bitcoin as they claim, because that would mean they always have to get more BTC to print new USDT, but who knows what they're really doing. We'd need regular audits for that.

I don't trust Tether.

Tether always puts new USDT in circulation. Other stablecoin issuers are more conservative in this regard. I wonder if Tether would be able to prove it really holds the USD it claims to have in its reserves? If it keep increasing the supply, it must provide regular audits like you've said. Something fishy is going on here.

I sure hope USDT doesn't lose its peg to the USD. Else, crypto market prices would decline at a very fast pace. The damage will be so severe that it will take quite some time for major crypto assets to go back to their original prices. It will be a great buying opportunity for new investors, but a huge loss for existing crypto holders. The market is widely unpredictable, so we can only hope for the best.

Crazy amounts of tether being minted. Just a few hours ago we had a $1B tether mint and then all of a sudden 30 mins later another $1B tether print. Basically $2B in a single day. At first I assumed it was a misprint.

We also had another $1B tether print yesterday. And the circulating market cap is well over $100B now. This implies tons and tons of money is flowing into tether.

Look at the tether premium it’s something like 0.2% which is usual. Means there is tons of demand for tether. The tether prints are lagging the supply.

I think the fault if from you, you didn't read properly.
The month of march has been a bearish period for Bitcoin since it's history and a lot of whales predicted it's price to go below 60k and probably rise again after March in the anticipated halving towards April


The price of bitcoin would only surge if that money is coming into the crypto market and yes sure it was, maybe a lot of people are exchanging theri fajt for the thether to buy bitcoin or maybe another alt but it still goes into crypto.

what does the launch of usdt have to do with the rising price of bitcoin? from any perspective you won't be able to relate to this. however, if you connect the development of etfs and the halving process which is getting closer, then you will be able to find a connection between this and the increase in bitcoin prices that has occurred in recent times. and this rally will probably continue for the next few weeks.

The impactation source that this great height in Bitcoin has ascertained is usually derived from the forces of the demands and supplies.
The Bitcoin market price was able to surge this great height due to the fact that Investors is being overwhelmed recalling the past bull-run was surged at $69K in 2021 which presented a massive impression and now there are rumors speculating around pertaining how this current bull-run was going to break its history of meeting a new ATH. Most impressively, the current halving was a potential to beat the value of the last ATH which has got Bitcoin enthusiasts to keep holding their assets while some investors are accumulating more of Bitcoin against the bull-run season.
And fortunately, today 10-03-2024 the Bitcoin halving was able to reach the past ATH of 2021. Meanwhile... We hope more increments to come in the market and yet while enthusiasts awaits for the full dawn of the bull-run to reach its peak of ATH.
Hence the market is being attracted and influential, it is an unjust to say "Tether releasing of a billion dollar USDT was the driving energy of the impressive surge in the crypto markets today where the power of the demands and supplies does.

                                 https://i.ibb.co/XZQdY3b/Screenshot-20240310-071623.jpg (https://ibb.co/jvNxJWT)
You can see for yourself about the current market price from the coin market cap

                                 https://i.ibb.co/bm4ZPGW/what-determines-value-1-bitcoin-final-15193042bd364c798609890610b53902.webp (https://ibb.co/qjHfd2y)
And these are factors determining the derivation power of Bitcoin price

Past behavior is rarely an indicator of future behavior especially with the ever-changing landscape of the crypto market.

It could be that the USDT is causing an "inflationary" pressure on BTC if the USDT is going straight into BTC.

So why are they constantly printing USDT at this time and putting it on the market? Today alone, Tether continued to print another 2 billion USDT to pour into the market. USDT is called an intermediary bridge between investors and the market, most people who want to invest will have to buy USDT with fiat currency before investing in bitcoin. Furthermore, if you follow onchain data, you will see that market makers like binance, DWL, Jumptrading... will all use stable coins if they want to drive the market. USDT printing is not the only catalyst or sign of market growth but it is also a good sign of market growth and everything is closely related.

"Tons of demand for Tether"? Or is it market manipulation? Constantly adding new USDT into circulation without regular audits from the regulators, looks shady to me. They may be printing money "out of thin air". If the "bomb" explodes, we should expect market prices for major crypto assets to go all the way down the drain in an instant. Afterwards, investors will lose confidence/trust in stablecoins. At least for a short period of time. Just like what happened with Terra/Luna.

Considering that the crypto market is full of risks, one must proceed with caution to avoid a financial disaster in the long run. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. :D

Bitcoin has its market with buyers and sellers. In this market, there are buying and selling demands and price rises if demand on buying is bigger than demand on selling.

Minting Tether USDT stable coin gives the market a new source of capital, that will be used in the market. It is logic to think new USDT supply will be used for buying and price will rise consequently.

If they need to dump the market, they don't need to mint more USDT stable coin.

1.March was a bullish month, not bearish. You should read more and learn the meaning of "bulls" and "bears".
2.One billion USDT isn't enough to pump the Bitcoin price. Why would a stablecoin be helpful for pumping the price of a volatile coin like BTC?
Stablecoins are being used to hedge the risk of price drops. The traders sell volatile coins for stablecoins, not the opposite.
The Bitcoin ETFs approval and the hype around the upcoming Bitcoin halving are the driving force behind the bull market. I don't believe that Bitcoin could hit a price above 100K in 2024. The selling pressure at 70K would be too big and we might witness a price correction.

I don't see anything to do with USDT being the stable currency USDT driving bitcoin growth. Bitcoin's value is increasing with the halving and will further double during the bull season. Bitcoin's development will remain untapped and there is no need for investors to be stable. Bitcoin is a volatile currency and will continue to rise as long as the bull run lasts.

someone said the US government is printing USD to buy BTC. it's hard to believe it because we know also the government wants to keep USD as the main currency but if they keep printing this fast, the inflation will be much higher. the issue with minting USDT is that Bitfinex has been very dubious with their transparency. there was a group of individuals requesting audits for USDT before and they speculated the amount of USDT is never backed by real USD.

it's a wonder why the company is yet still not called by authorities since other actors like Paxful were stopped from minting BUSD while they were proven to have backing.

We can not know is this rumor true but Tether company actually bought the US. bonds and they have a role in the USA. economy.

About that nation government and their action to buy bitcoin with USDT, I can not answer you as I have no evidence about it.

https://tether.to/en/transparency/#reports
Report https://assets.ctfassets.net/vyse88cgwfbl/7DZ8nVyr8zTaWhJqTIsMsH/b8e55bc151c9bb74adf20ff840e84088/ESO.03.01_Std_ISAE_3000R_Opinion_31-12-2023_BDO_Tether_CRR_RC134792023BD0684__1_.pdf

The value of Corporate bond owns by Tether is $44,412,069.

Ahhh. Buddy nothing to worry about so far March has been a good year until now as we are watching Bitcoin making higher highs from the last month and now already at ATH, what OP is talking about is a heavy shake and I can logically and technically agree with OP that so far Bitcoin is already at ATH and greed index is on its peek so there will be nothing shocking if Bitcoin makes a toward move by this week to revisit at 65k to 60k range to liiqudte all the long traders and then shot traders.

That's the reason we need to realize about saving profits to take re-entry in the market and that might be the last opportunity of the entire cycle. We are already in the distribution zone. So DYOR before any entry.

If they're doing that, won't it make BTC more expensive in the long run? The higher the inflation, the more valuable Bitcoin will be. It's a dumb move to be honest. If the FED wants to make Bitcoin cheaper, then raising interest rates would be the way to go (contributing to a stronger USD). Tether/USDT's actions are totally independent from the US government. I think it's increasing the supply to manipulate the market to its own favor. After all, most crypto assets depend on USDT as some sort of reserve currency (besides BTC).

Imagine what harm USDT will cause the crypto market if it goes all the way down the drain in an instant. It will be Terra/LUNA all over again. I'd steer clear from USDT unless it provides regular audits of its USD reserves. With or without USDT, Bitcoin will be here to stay. :)

The money still is flowing into crypto.

MSTR selling convertible notes to buy $500M more of BTC, and last week they bought $800M

USDC printed $370M in the last 2 hours

And the biggest of all was yesterday we had a record $1B in inflows to the etfs.

Going to be a ATH every day.

I cant say anything but TBH, it's the real capital that surged the price in craze mode, I was even shocked haha everything happened so fast, ETF made a huge impact on the trust of retail investors and especially in those investors who were already connected to the market and now they are crazily accumulating the available supply, I'm curios how the market will meet the upcoming supply demand because there are just a few percentages of supply available and on that supply as well ETF companies trying to snatch opportunities in future we'll even see the over-valued buying zone pump by the retail investors.

Just an amount like newly minted USDT cant push the market this hard.

  Tether's CEO,Paolo Ardoino,addressed the speculation ,clarifying that the newly minted $l billion USDT is reserved for future issuance requests and chain swaps. This authorized but not issued transaction serves as inventory for the upcoming needs.





   https://coinpedia.org/news/tethers-surge-to-100bn-market-cap-mints-1bn-usdt-as-bitcoin-price-hit-65000/

It's all because of the "ETF hype". More money is being poured into the crypto market, which is a good sign for long-term "hodlers". But stablecoin issuers' recent move, should raise a red flag to the whole market. If all blows up, expect prices to go all the way down the drain in an instant. There will be a massive bloodbath never before seen in the history of crypto.

I'd advise anyone to steer clear from stablecoins (particularly Tether/USDT) just to be safe. Only use them if you want to do day-trading or protect yourself against short-term volatility. Long-term speaking, you should consider cashing out your crypto directly to your bank account. Who knows what surprises we'll find in the future? :D

ETF hype lasts for some months since the court 'rules in favor of Grayscale' and appearance of BlackRock among companies submit Bitcoin Spot ETFs make people strongly believe in approvals from SEC.

Finally it happens in January 2024 but months before that, Bitcoin price rose from below $30,000 to above $45,000 before having a correction.

Pomp has a talk about it there.
Bitcoin enters price discovery (https://pomp.substack.com/p/bitcoin-enters-price-discovery-new). There is a chart with notes on this for price changes and events.

The recent surge in Bitcoin's price, possibly fueled by Tether's USDT release, has defied historical trends. Predicting specific numbers is difficult, but reaching $70-75k before April seems plausible. Doubling the previous all-time high to $150k is ambitious but not impossible

More people are buying or wants to invest in bitcoin and most of them if not all are using USDT to buy bitcoin for themselves and what better thing to do than to just "print" more USDT, so I do think that the increase of USDT could be because the price of bitcoin is skyrocketing not to mention that some fools are hodling their USDT and they need a way to make sure that those that are selling their bitcoin and other crypto can still get their USDT, I don't believe that the increase in USDT is the reason for the price surge though, a lot of stuff happens in bitcoin market that could influence the price surge like the ETF, that's why I believe that it's not the case.

I have always had the fear that stable coins like Tether might eventually harm Bitcoin and the other cryptocurrency. Their constant printing of currency at will is not different from what the FED are doing and this will ultimately lead to something similar to inflation and investors loss of confidence. I don't know if they have the regulatory authorization to print USDT at will but I know they might use it someday to manipulate the market and that will lead to the situation you described in your comment.

This is another thing that scares me about this whole thing. Many people have not recovered from the shock of the Terra/Luna collapse and we experience something like that again, it will be a huge blow to cryptocurrency in general.

They can only print up to what they have in USD reserves. Anything more than that would be considered a "scam". And if Tether fails to provide regular audits of its USD reserves, you can know what to expect of USDT in the future. The risk is simply too high to bear. I think you're much safer holding Fiat at a bank account, than a stablecoin with no investor protections or guarantees of any kind. At least in the US, your bank deposits are insured up to $250k by the FDIC. As for USDT and similar coins, you're on your own.

With USDT having a strong influence on the crypto market (it's the largest stablecoin by market cap, after all), a crash will cause catastrophic consequences in the short term. Market prices for major crypto assets will decline like never before. Just steer clear of USDT, and there should be nothing to worry about. :D

The worry to repeat again about their case before, having admitted that they have lower reserves or not fully backed can easily be seen again if they will continue to release USDT without really having actual reserves. Yes, they are the popular stablecoin for now but once people learn that their reserves are not fully backed, do you really think people will still hold their assets? This is why stablecoins are quite risky because we don't know if the team behind it are actually saying the absolute truth about their backing.

Tether's moves are shady. The company keeps increasing the supply without proving it actually owns the USD reserves backing the coin. It will be a complete mess once USDT loses its peg to the USD. I see Tether's inevitable downfall as FTX's sudden collapse. Market prices will go all the way down the drain in an instant, leaving many investors "rekt" in the process. I think it will be even worse than the Terra/LUNA stablecoin crash.

USDC is a better option, imo. Circle (the issuing company) has more transparency and a strong commitment to its customers than Tether itself. It went as far as honoring the value of $1 per coin at a time when major US banks collapsed (1-2 years ago). The crypto market still relies on BTC as its reserve currency, so the impact of a USDT crash won't be permanent. The future can't be predicted, so lets hope for the best. :D

This coming halving is going to push the price of Bitcoin to the bullish trend we'll have been waiting for, we should never be decided of selling our own token because this would be a bigger loss for us after holding and we now sell when the price of Bitcoin is about to go bullish we need to know how to forcast the price of Bitcoin so that we don't end up making the wrong decisions that could bring loses to us. The crypto market is still on the bull and the halving is going to make many ignorant people to be surprised about the price of Bitcoin.

People gets surprise when their plans doesn't go as planned. Bitcoin have always dominated the system and I'm never going to relent from achieving my purpose in the market, I'm here to explore opportunities and my portfolio, no room to underestimate any project, rather we stick to the available solid projects and hope for the future best of our existence in the market. This halving have always been the top rising matter in the space and I just hope whole sector is been out together and accumulating streak winnings.