Tether vs Bitcoin price

[Stratlaunch]

Today I created an idea on Tradingview that compares the Bitcoin price action to every instance of Tether creation.

Sometimes it seems to have no effect on the price, but other times it causes drastic price movements. Feel free to check it out and let me know what you think about it. (click the link)

[pooya87]

Sometimes it seems to have no effect on the price, but other times it causes drastic price movements. Feel free to check it out and let me know what you think about it.

it is because Tether is not "causing" anything. the dates just happen to coincide cometimes. basically they mainly print more USDT whenever there is more usage for it and if you look at the whole market you can see that Tether is not just used for trading bitcoin, it is used for altcoins too. in fact one of the ways people escape altcoin dumps is to go to USDT. and looking at the charts for instance the March, May and June cases are 3 of the biggest altcoin dumps of this year where each altcoin went down at least 50% and a huge amount of money exited that market. many of it to USDT.

of course in some cases like during January Tether printing "caused" a rise but not because of the reasons you might think. the reason was because people were convinced Tether is "pumping" bitcoin so when they released new coins they started FOMO buying bitcoin to stay ahead of something that wasn't even happening so the price went up.

[avikz]

There is no apparent pattern I can see. There are few incidents which may be purely coincidental but bitcoin's price is nowhere related to USDT. But I can't deny the fact that USDT is one of the most active cryptos being used in the exchanges and majority of its usage is with bitcoin pair. Like Pooya87 has correctly pointed out, USDT is also being used for pump and dump game big time. But it is being used as a dollar value equivalent, so there must not be any impact on the price of bitcoin with the printing of USDT. If it happens, it is purely coincidental. Otherwise we would have seen such price increase in every single incident of USDT printing which is not the case!

[Kramblerty]

Printing of Tether has no direct effect on BTC price because the volume of USDT issued maybe converted to BTC in 1 day or 1 months after "printing".
So, traders should not buy BTC only because the news about Tether "printing" come to the market.

[Andrew1337]

In my opinion you can't compare bitcoin that's was the first coin with a shitcoin . Tether is just a clone of dollar many people thinking that he has stable value $1

[tomahawk9]

I don't think the USDT is behind the current BTC uptrend. You said it yourself, sometimes it may have an effect, sometimes it doesn't have an effect at all...this makes think that most of the time it's nothing more than a coincidence whenever the btc price goes up at the same time as the usdt printing.

And I believe the uptrend we've seen in btc over the past few days is organic, it's been a slow and steady increase, I honestly think it's a pretty normal behaviour after a long period of stagnation in the 6k levels.

[hewbrowden]

I do not know, for some reason, it seems to me that this is just a coincidence. At least I can not see why it should affect the price of bitcoin.

[BitcoinCommodor]

There is no apparent pattern I can see. There are few incidents which may be purely coincidental but bitcoin's price is nowhere related to USDT. But I can't deny the fact that USDT is one of the most active cryptos being used in the exchanges and majority of its usage is with bitcoin pair. Like Pooya87 has correctly pointed out, USDT is also being used for pump and dump game big time. But it is being used as a dollar value equivalent, so there must not be any impact on the price of bitcoin with the printing of USDT. If it happens, it is purely coincidental. Otherwise we would have seen such price increase in every single incident of USDT printing which is not the case!

I really see no pattern here as well and even with the slight uptrend that the OP tried to point out in each case, I see all those as just some concurrence of events which could have happened for so many different reasons. Moreover, market is always bound to move as it please and nothing is unpredictable. I remember when some people started posting opinions about a certain date in the market where market picks up a bullish momentum only to see the market going down the more afterwards.

[Planeparke]

I don't think there's a particular relationship between USDT anew bitcoin.
The amount of USDT in circulation appears to have an effect on price of cryptocurrencies, it's not a steady pattern, but the higher amount of USDT created rises the price

[diouf67]

I think in Tether people are just looking to find reasoning and causation which is not there. People like to look for a scapegoat and a lot of times they fall on Tether. There are many reasons why bitcoin price rises and falls and a lot of the time the real reason is that there's no reason at all.

[apur688]

I think the difference between the two altcoins is the price. Not only the size of the price, but also the price stability. Tether or USDT have stable prices, even the most stable of all altcoins, because Tether prices depend on dollar prices. So the price will range above or slightly below the dollar price. While bitcoin does not depend on goods or real currency value. Both are popular among traders and investors in the cryptocurrency world. Although bitcoin often goes up and down, but this is what can provide large profits when trading and investing.

[Osarman]

Today I created an idea on Tradingview that compares the Bitcoin price action to every instance of Tether creation.

Sometimes it seems to have no effect on the price, but other times it causes drastic price movements. Feel free to check it out and let me know what you think about it. (click the link)

I see most of these things as plain coincidence and a lot of people have fallen for things like this expecting it would repeat itself in future and then they get so comfortable until they start seeing themselves in a huge loss.

The past is never an indication of what the future holds, and even if this were to be true, I really do not see a way anyone can prove it with just chart movements alone. Usually, people will think whatever they really want to think as the case may be.

[aervin11]

If tether is backed by Dollars on that certain exchange you are trading, then you must pay the same value in bitcoin for tether. I think all of those huge price movements just coincide on tether creation because on the first place it's not consistent whether the price would go up or down. Coincidents like that do really happen just like NEWS

[ND_INVEST]

In my opinion you can't compare bitcoin that's was the first coin with a shitcoin . Tether is just a clone of dollar many people thinking that he has stable value $1

It's not like people are just thinking it. Each tether is claimed to be backed up by 1 dollar, which makes the price extremely stable. While investing in tether is extremely dumb, it might be a nice coin to freeze the money inside of the crypto area but outside of the market's bearishness. Nevertheless, many people don't do that because they simply don't trust the hold project and think that there might not be enough dollars to back up each tether and once this fact is revealed, the coin will crush.
As for patterns and influences, I don't think btc and tether are connected in any way.

[el kaka22]

I don't think there's a particular relationship between USDT anew bitcoin.
The amount of USDT in circulation appears to have an effect on price of cryptocurrencies, it's not a steady pattern, but the higher amount of USDT created rises the price

It is normal for some to always look for a reason why the market is down but in the real case of things, market is down because traders and people are selling more than buying, and I do not think we should be looking for more explanations than that. USDT is a centralized currency that is backed by fiat of USD equivalence. Printing more out is just a way to compensate the demand and since according to the team, it is backed by real funds, then I see no reason why that would be an issue for any market.

I think in Tether people are just looking to find reasoning and causation which is not there. People like to look for a scapegoat and a lot of times they fall on Tether.

Yeah, that is the problem here. Market goes down and people are wondering why the market is going down and even if they end up finding irrelevant things which could have been a coincidence but in reality, cannot affect the market, then, they just say it anyway. I see nothing here that depicts what the OP is saying to be right. The market just wants to go down, so deal with it and focus on the things that matters.