Tether accelerates the pace to beat Ethereum -Bitcoin could be the biggest winner

2020 is a year full of events, not only on a global scale, but also to the world of cryptocurrencies. First, we were witnesses of how they reduced the price of Bitcoin by half in march, then we welcome you to the third halving whose impact has yet to be shown. But this year, Bitcoin will not get to be the center of attention: Ethereum is about to launch its version 2.0, while the Tether has more than doubled its market limit of USD 4 billion to $ 9.410 million in the last 3 months.

According to data from Coincodex.com, the total market capitalization of Tether (USDT) remained at around USD 4 billion since July of 2019. Then, on the 18th of march, a few days after the great collapse of bitcoin, Tether accelerated the creation of new coins. To the 8 of June, the market capitalization of the Tether had reached us $ 9.410 million, increasing by 129%. An impulse as significant woke up naturally heated debate about the market of cryptocurrencies, and the majority of investors believe that the momentum of the supply of stablecoins is a signal for the long-awaited bull market of Bitcoin.

Bid increment of main stablecoins. Source: Bloomberg

Correlation between BTC and Tether

Stable currencies are widely used as a form of de facto effective in the market of cryptocurrencies. Given that its market value is tied to some external reference, are more “stable” in price in comparison with Bitcoin. In comparison with the fiat money, they have the advantages of the digital assets of the blockchain in the instantaneous motion of money and payments more easily, which enables merchants to easily convert their currencies stable in fiat money or other cryptocurrencies. In addition, in some countries, such as China and Russia, where Bitcoin is forbidden to perform banking transactions, merchants tend to exchange their fiat currency in stable currencies, to keep them and buy other cryptocurrencies when the time is right.

In a recent report, Bloomberg recognizes the correlation between the price movements of Tether and Bitcoin. He asserts that “the interest in linking the digital to the dollar represents the need to perform transactions and store value in the reserve currency of the world without intermediaries. We cannot avoid drawing parallels with the adoption of paper money throughout the history as the current world is moving quickly towards digitization”.

Correlation between BTC and the USDT. Source: Bloomberg.

With Tether gaining greater recognition that it deserves, has the potential to outperform Ethereum and take the place Not.2 in the crypto assets, according to Bitcoin, the king of the cryptocurrencies.

The market is preparing for a Bitcoin bullish

A higher price of Bitcoin requires traders to pay more, requiring more fiat money into the market, increasing the supply of Tether. In turn, the increase in the supply of Tether could presage an increase in the price of Bitcoin.

Many critics believe that the new issuance of Tether is the result of a growing confidence in the expansion price of Bitcoin after the halving, as traders anticipate a bull market will be prepared to channel your Tether in Bitcoin. This hypothesis is supported by a survey conducted by Glassnode, in which the data showed an increase in the whales of Bitcoin who went to the market of Bitcoin from a nosedive in march. In addition, despite the setbacks, the market, especially the major operators, is bullish for Bitcoin, so the increase in the supply of Tether could be attributed to the rise of new investors hoping to benefit from the boom in the reconstruction of Bitcoin.

Planning ahead for the bull market

Each Tether could be the momentum that Bitcoin needs to go off. If we take a look at the history, bulls of Bitcoin have always arrived a few months after the events of half reduction earlier. In the first halving, the price of Bitcoin increased from $ 11 to more than $ 1,100 in a year. In regards to the second halving, the price soared from USD 600 to USD 20,000 for the end of 2017. The same could be applied to the third halving. However, this process can take months, so it is recommended to diversify our strategies: be bold while keeping it safe.

Here are two options worth trying while you wait for the bull:

Option 1: one wallet designed for traders and HODLers

It is possible that you want to continue driving your BTC and wait for the bull market comes after the halving. However, as we do not know how long it will be until the next bull market, in the meantime, you might consider storing your BTC in a wallet with interests, where your deposit could get an annualized interest rate of up to 30%.

The monthly interest is calculated as S*I/365*30 = IM, where S represents the amount of the deposit, I the interest and IM is the monthly interest. If you deposit 10 BTC in your wallet, the monthly interest you would receive is 10*30%/365*30 = 0,24 BTC. While most of the lending platforms require traders to deposit a minimum of 1 BTC, in Bexplus can make deposits from 0.05 BTC.

Interest rates Bexplus Wallet

Option 2: Manage trading with less risks

In addition to buying more BTC and wait for the bull market, I could earn BTC with additional leveraged trading. These allow traders to open a position leveraged X times more than their real capital. To predict the trends of the correct price of Bitcoin, traders can make higher profits in a shorter period of time.

To illustrate, you can open a long position with a value of 10 BTC at the price of USD 9,000. With the leverage 100x of the exchange Bexplus, you only need to deposit of 0.1 BTC as margin. When the price of BTC increases to $ 9.500, you can close the position at a profit. Your profit would be ($9.500-$9.000)*10 BTC/$9.500 = 0,526 BTC.

Founded in 2017 and is based in Hong Kong, Bexplus is a leading platform for trading crypto derivatives that offers futures trading with leverage 100x on BTC, ETH, LTC, EOS, XRP, etc, No spread, no requirements of KYC, no commission, deposit, Bexplus is trusted by customers around the world, including EE. UU., Japan, Iran and Sudan.

Demo account with 10 BTC

To help the beginners to get used best when trading leveraged Bexplus provides each user with a demo account when you register. There are 10 BTC rechargeable in the demo account so that operators can practice all they want. You can also learn how to analyze the market and to use the toolkit with the demo account. In addition, you can always rely on the 24/7 customer care to help you to solve your problems in trading.

Trading platform Bexplus

Check the market at any time and in any place you want

The mobile application Bexplus is in 5th place of results of search of key words related to the trading of bitcoins in 56 countries on App Annie. This application for full functionality gives you the same experience when you use a computer, only far more convenient. You can check the market, enter or exit a trade, or to deposit their funds in the wallet that earns interest where you want it. The mobile application Bexplus you have a notification of market 24/7 to keep you updated with any big movement of the market.

You can access all the data and assets through all types of devices, including Windows, Macbook, Android phones, iPhones and tablets.

Claim your 100% bonus

Double deposit, double benefit. Users can get a bonus of 100% deposit for each deposit in Bexplus. If you deposit 1 BTC, will be credited with 2 BTC in your account and the winnings from the bonus can be withdrawn. Each user can join the promotion and get up to 10 BTC of bonus. Now active users can get a 10% discount on your commission transaction.

Deposit bonus 100%

Continues to Bexplus in:
Web site: https://www.bexplus.com/
Telegram: https://t.me/bexplusexchange
Apple’s app store: https://itunes.apple.com/app/id1442189260?mt=8
Google Play: https://play.google.com/store/apps/details?id=com.lingxi.bexplus

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