Re: Is the newly minted USDT, a driving force to surge of BTC ?
The month of march has been a bearish period for Bitcoin since it's history
March 2023: price goes from $21k to $29kMarch 2022: price goes from $38k to $47k
March 2021: price goes from $45k to $59k
March 2020: is bearish: price goes from $9k to $6k
March 2019: price remains in $3k range for the most part
....
Quote
and a lot of whales predicted it's price to go below 60k and probably rise again after March in the anticipated halving towards April.
It seems like what you call "whales" were just some idiots who couldn't read the charts to change their strategies based on the actual on going trends. They wished to go against the trend that started months ago and reversed the actual bear trend.In other words they weren't predicting, they were wishing it.
Quote
Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus.
Wrong. Because you are narrating a tiny portion of the trend!Price started rising a long time ago and it has been breaking resistance after resistance at $30k, $40k, $50k, $60k, and soon the $70k. It is not like price had stayed at a fixed level with a completely flat chart with no rise then Tether printed some of its own shitcoin then that flat chart turned into a rising chart!!! It's been rising all along and this centralized shitcoin created more of its tokens to match the increasing volume and most importantly to get ready for the altcoin pump that always follows after Bitcoin starts rallying.