The next portion of “freshly printed” tokenized dollars Tether (USDT) entered the wallet of Bitfinex, the largest in terms of trading volume, bitcoin.
— Not Tether Backup Printer (@eurtprinter) September 2, 2018
The previous similar transaction for the same amount was made less than two weeks ago, on August 21st. Then it led to a short-term revival in the market, which was interrupted literally the next day. However, soon the uptrend continued and the price overcame the $7,000 mark.
Currently, the price of bitcoin, apparently, is trying again to test the $7,400 mark. The StochRSI Oscillator is moving out of the oversold zone, however, the upward price movement is not yet supported by the growth in trading volumes.
Some users view the new Tether emissions as something of a very accurate technical indicator.
Does anyone else feel like this Tether transfer thing is a bit too obvious now? I mean it seems to have become a leading indicator for the next move for a lot of people lol. Could it really be that easy? Usually isn’t but who knows 🤷♂️
— Credible Crypto (@CredibleCrypto) September 2, 2018
… others are already building optimistic short-term forecasts:
$100 MILL Tether incoming. $8,000 $BTC on the horizon for the upcoming week.
— WolfofCrypto (@bullishgentlemn) September 2, 2018