The month of march has been a bearish period for Bitcoin since it's history 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. However we saw a different case this year and instead of BTC going down it has attained a high of 65k today which is close to the price of the All Time High in the last Halving by Nov 2021 which was about 69k if I'm not mistaken.
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. This has made lots of crypto enthusiasts wonder if the billion dollar release by Tether is the driving force behind the resurgence of Bitcoin, what do you think about this?
Well in own my speculation I think Bitcoin could attain a height above the previous ATH of 69k to 70 or 75k and above, before April. Also, if the previous ATH was about 69k there's a possibility that it could double that figure, maybe close to 150k. What's your say on this.
You are probably referring to the rumors that were circulating in the past when it seemed that Tether was used to artificially pump the Bitcoin price. While I think that back at the time it probably was the case, there is now more risk for any company running a stable coin to do that as the crackdowns on market manipulators and other scammy activities have become far more severe.
Since its public knowledge, the moment that Tether prints a billion dollar worth of USDT, I am pretty sure that they would be highly careful to abuse those USDT for any illegal purposes. Because chances are high that the SEC or any other authorized institution will investigate how those funds have been used.
But this still doesn't mean that the market isn't being manipulated at all at the moment. Huge players could pump the market slowly while keeping the volume high, making sure that the number of retail investors increases and buys into the surging price.