Get started
ll21LAMBOS21

2020 Tether Market Cap Correlation to BTC Price Action

Long
Market Cap USDT, $ (CRYPTOCAP:USDT)  
ll21LAMBOS21  
CRYPTOCAP:USDT   Market Cap USDT, $
Beyond Technical Analysis Trend Analysis Chart Patterns Bitcoin (Cryptocurrency) BTCUSD BTCUSDT tether usdt
21
3
beyondta trendanalysis chartpattern bitcoin btcusd btcusdt tether usdt
Interesting correlation between Tether market cap and BTC price action. So far in 2020, Tether market cap pumps have acted as a precursor to big BTC rallies.

Tether market cap pumped on:
1/6/20: BTC rose 43.06%
4/1/20: BTC rose 56.9%

Average 2020 BTC move following a Tether market cap pump = 49.98%

We just saw another Tether market cap pump on 5/14/2020. If the trend continues and BTC makes the average 2020 move (49.98%), $14k - $15k BTC incoming.

Will be interesting to see if the trend continues.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.