Re: Is the newly minted USDT, a driving force to surge of BTC ?
March 2023: price goes from $21k to $29k
March 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
....
picture hosting service
https://i.ibb.co/7rKLvrw/images-7.jpg
If you watch this image closely you'll see that the month of March has been mostly of a Bearish period than Bull in the history of Bitcoin, you'll also notice that since 2011 to 2021 it's been on the Bear market 8 times and have only been bullish in 2013, 2016 and 2021, which was the last halving period.
And if you also notice the second image as well you'll see that they give accurate information, it's not as if bitcoin has never been Bullish in the month of March before now, you can see that 2013, 19, 21 and 22 where all Bullish but the message I was trying to pass is that since 2011 or so it's been more Bearish than Bullish. However some people expected a Bear season this March before the halving but there was a U turn this year.