Tether’s On-chain Data Could Forecast Bitcoin Bull Runs

Tether’s On-chain Data Could Forecast Bitcoin Bull Runs

May 7, 2020 by CS Team
In the wake of the third Bitcoin halving, the leading cryptocurrency is increasingly showing bullish signs. Institutional investors appear to expect a Bitcoin bull run as well, since the futures on the Chicago Mercantile Exchange broke new records. Brian Quinlivan, told Cointelegraph on May 7 that the percentage of USDT held on exchanges often anticipates
Tether Bitcoin Bull Run

In the wake of the third Bitcoin halving, the leading cryptocurrency is increasingly showing bullish signs.

Institutional investors appear to expect a Bitcoin bull run as well, since the futures on the Chicago Mercantile Exchange broke new records.

Brian Quinlivan, told Cointelegraph on May 7 that the percentage of USDT held on exchanges often anticipates Bitcoin’s bull runs:

“Most USDT isn’t just being taken off exchanges to be stored in wallets or cashed out through a FIAT-based platform like Coinbase. When people aren’t using USDT, they most often put it in Bitcoin.

“And what’s cool is the fact that this USDT percentage often fluctuates a few hours or days in advance of BTC’s price reacting to it. So monitoring this metric in advance can end up producing a tremendous advantage by catching a sudden fluctuation early enough.”

Continue reading: CoinTelegraph.com

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