CandleFocus Tether Mints 8B USDT in 8 days, Backing Bitcoin’s Surge
2024-11-17
Author: Content Editor
Bitcoin is currently trading within a range, but there is potential for more gains after Tether injected $6 billion USDT into the market. Historical cycle analysis suggests that Bitcoin could reach highs of $200,000 to $500,000. Tether has issued an additional 2 billion USDT on Tron and Ethereum, with a total of 6.067 billion USDT already pumped into the market. These injections of liquidity could push Bitcoin's price higher, possibly above $93,000. Additionally, analysis of previous Bitcoin cycles suggests that there is a possibility of reaching and exceeding its all-time high after the upcoming halving event, with price targets estimated between $200,000 and $500,000. The Satoshimeter graph indicates that Bitcoin is still in the mid-stage of the market cycle, dispelling suggestions that the final bull thrust has occurred.
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