Tether USDT Market Cap (December 29th 2020 through June 2021)
Taking a closer look on the monthly chart against Bitcoin/USD and Bitcoin/USDT
Cryptos are having a good season and:
-tether market cap has done nothing but go up since November 2018
-tether could be in trouble along with the entire crypto market if heavy US regulations are put into place (e.g. STABLE Act)
-the entire market could just be in trouble if some bizarre political event occurs soon, even if just temporarily due to a flash of fear
Full chart:
Some thing I have yet to fully consider is the possibility for the downtrend from summer 2019 to the march 2020 crash reflected in the bitcoin price to only be a smaller part of the larger trend, as it shows here that tether's market cap has not stopped being used since. I did consider this a little bit when I was trying to create my own long term elliott wave forecast with bitcoin but it could end up being very incorrect. Check the related ideas for that.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Taking a closer look on the monthly chart against Bitcoin/USD and Bitcoin/USDT
Cryptos are having a good season and:
-tether market cap has done nothing but go up since November 2018
-tether could be in trouble along with the entire crypto market if heavy US regulations are put into place (e.g. STABLE Act)
-the entire market could just be in trouble if some bizarre political event occurs soon, even if just temporarily due to a flash of fear
Full chart:
Some thing I have yet to fully consider is the possibility for the downtrend from summer 2019 to the march 2020 crash reflected in the bitcoin price to only be a smaller part of the larger trend, as it shows here that tether's market cap has not stopped being used since. I did consider this a little bit when I was trying to create my own long term elliott wave forecast with bitcoin but it could end up being very incorrect. Check the related ideas for that.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
