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why alts prices move same as btc price? sample - chainlink price and btc price
why alts prices are linked to btc price?
sample - chainlink price and btc price
sample of price of btc and link:
1 hour ticks
October, 2nd - October 11th
compare price up and down
btc price chart
https://ibb.co/QPXQCj5
link price chart
https://ibb.co/sPq207g
i dont see in description of LINK any info that bind its price to btc - but i see this at picture
sample - chainlink price and btc price
sample of price of btc and link:
1 hour ticks
October, 2nd - October 11th
compare price up and down
btc price chart
https://ibb.co/QPXQCj5
link price chart
https://ibb.co/sPq207g
i dont see in description of LINK any info that bind its price to btc - but i see this at picture
Re: usdt tether market cap grows from 4,6 billions to 10,800 billions from March
The reason why it grew soooo much was the pandemic. During the early days of pandemic people wanted to get out of crypto and they still didn't wanted to take all their cash out to their bank accounts, that wasn't something ideal for them, so what they ended up doing was move their money from crypto to usdt which made it a bit more difficult because there wasn't enough usdt, there was only 4.6 billion and honestly crypto market is so much bigger, they were a bit late but not too late and increased it to 11 billion dollars, which people just bought it all because most still wanted out.
Obviously this is not sustainable and usdt will eventually go down and people will sell their usdt for usd and the number will go down one day but until that moment this really works for people.
Obviously this is not sustainable and usdt will eventually go down and people will sell their usdt for usd and the number will go down one day but until that moment this really works for people.
if people get out of btc - why price ob btc began grow from March 2020, just after drop of price?
Re: usdt tether market cap grows from 4,6 billions to 10,800 billions from March
at binance -
1)
from September 1st, to September 17th
was sold about 60 000 more btc than bought btc
60 000 btc now cost about 600 mln usd
at the same time - from September 1st, to September 17th
was issued about 1, 700 mln of usdt
i dont check difference of (sold - bought) btc at other exchanges,
2) from September 5th, to September 17th
was sold about 30 000 more btc than bought btc
and at this period price of btc go up
so at this period people sold more than buy, but price go up
1)
from September 1st, to September 17th
was sold about 60 000 more btc than bought btc
60 000 btc now cost about 600 mln usd
at the same time - from September 1st, to September 17th
was issued about 1, 700 mln of usdt
i dont check difference of (sold - bought) btc at other exchanges,
2) from September 5th, to September 17th
was sold about 30 000 more btc than bought btc
and at this period price of btc go up
so at this period people sold more than buy, but price go up
Re: usdt tether market cap grows from 4,6 billions to 10,800 billions from March
Most people use it to convert their alts during bleeding season. They don't have all that money on hand to be provided and most people already realize that. Use it as a back up to save yourself from crash but don't hold in for too long. that would be my suggestion. By now, there are many other alternatives to tether if one chooses to use. Risk is similar.
usdt is used for trading at cryptoexchanges. Amount of trading in usdt corresponds to amount of trading in btc and eth.
https://coinmarketcap.com/ - cryptocurrencies tab
compare Volume (24 hour) for ( btc + eth ) and usdt
Re: usdt tether market cap grows from 4,6 billions to 10,800 billions from March
August, 29
usdt
Total Assets $13,458,090,864.97
From July, 29 - was issued about $2,700,000,000
But that was not CMC says?usdt
Total Assets $13,458,090,864.97
From July, 29 - was issued about $2,700,000,000
https://coinmarketcap.com/currencies/tether/
But maybe sooner we don't know since USDT is gaining support from Businesses these days.
here is more precise info
https://wallet.tether.to/transparency
it's differ little from coinmarket info
Re: usdt tether market cap grows from 4,6 billions to 10,800 billions from March
From August, 1st up to today -
at binance => diffrence between total purchased volume and total sold volume = about 30 000 btc
issued usdt from August, 1st up to today => 800 millions usdt
at binance => diffrence between total purchased volume and total sold volume = about 30 000 btc
issued usdt from August, 1st up to today => 800 millions usdt
Re: usdt tether market cap grows from 4,6 billions to 10,800 billions from March
They already said that their USDT is not backed 1:1 by fiat (wording aside, we know what it implies): https://www.coindesk.com/tether-says-its-usdt-stablecoin-may-not-be-backed-by-fiat-alone.
So I guess this pump machine is still continuing. Their banking issues are also popping up every now and then. In short, never store your money in USDT for too long.
So I guess this pump machine is still continuing. Their banking issues are also popping up every now and then. In short, never store your money in USDT for too long.
Starting from March 2020, every time there was a issue of tether, there was rally of btc
first rally was from middle of March, when btc dropped to 3600, and after this begin restore
At binance - starting from middle ofMarch, 2020, difference between total amount of purchased btc and sold btc are negative, but btc are moving up
so problem as for me is - that btc grows up - while the difference between buy and sell volumes is negative
and total volume of this difference corresponds to volume of issued tether
usdt tether market cap grows from 4,6 billions to 10,800 billions from March
usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020
For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt
Do you think tether really has fiat for backing this usdt?
For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt
Do you think tether really has fiat for backing this usdt?
it seems i found possible solution of issue - big amount of usdt was issued from March, 2020
Tether prints $1 billion in a month (April)
https://decrypt.co/26845/tether-prints-1-billion-in-a-month-bitcoin-price-up-20
Tether prints $1 billion in a month (April)
https://decrypt.co/26845/tether-prints-1-billion-in-a-month-bitcoin-price-up-20
Re: at binance from March, 12 up to now someone spent 600 mln usd to buy btc
There are several reasons that I could think of:
1. They don't want BTC to drop for whatever reason, maybe die-hard fans.
2. They want to liquidate the short on the margin market so they got profits as the majority are trying to short.
3. They don't really think about TA and stuff like that and just need to buy a lot of bitcoin.
Your who question is impossible to answer unless you ask Binance.
1. They don't want BTC to drop for whatever reason, maybe die-hard fans.
2. They want to liquidate the short on the margin market so they got profits as the majority are trying to short.
3. They don't really think about TA and stuff like that and just need to buy a lot of bitcoin.
Your who question is impossible to answer unless you ask Binance.
as i see from actions of these buys :
- these actions take all btc that is sold
- and important - these actions are keeping price at some level
so, as i understand, they want mostly to keep price, but for this they should also get all additional btc that is sold
what group of people is interested in this?
i roughly understand what they do, but i dont understand - who are they as group of people.
there is chart at link with sample how is moved price up after price dropped down by selling guys
https://ibb.co/Kh22CY2
1 bar - 1 minute
time is - gmt + 3
to move price from 6770 to 6880 - was bought about 300 btc, that costs about $2 000 000
so some group for 30 minutes moved price up by $100 - by firing 2 mln usd for this.
Why firing - because when all sold - they bought and move price up,
If they want just buy btc - they can buy btc that is sold - and dont move price up
so as i see - main goal of them - keep price.
what group of people want to keep price and have 600 mln usd per month for this?
of course, could be more groups of people
- first group move price up when all sold
- second group bought all btc that is sold
than question - what group have so $$$ that they can move price up and fire so $$ for this?
Re: at binance from March, 12 up to now someone spent 600 mln usd to buy btc
source - data gathered from binance public API. they give info about trades, amounts.
just get this data and make simple calculations
delta = (amount of btc that was sold on exchange) - (amount of btc that was bought on exchange)
this delta for this period = about 100 000 btc
but price at this time period was moved from 7300 down to 3900 and later up to 6800
so result price move is only about $500 per btc
so some groups of people take these btc and payed about 600 mln usd for them, and at result keep prices
I am very curious - what groups could make this and why
just get this data and make simple calculations
delta = (amount of btc that was sold on exchange) - (amount of btc that was bought on exchange)
this delta for this period = about 100 000 btc
but price at this time period was moved from 7300 down to 3900 and later up to 6800
so result price move is only about $500 per btc
so some groups of people take these btc and payed about 600 mln usd for them, and at result keep prices
I am very curious - what groups could make this and why
You should rather focus on another question. Who supplied them with so many bitcoins? Are long term holders selling at these low prices?
Who could afford to sell this much for 6000 dollars when the price was at 10 thousand since January? Are so many investors selling at a loss?
as i see from charts - yes, many investors are selling
Re: at binance from March, 12 up to now someone spent 600 mln usd to buy btc
https://ibb.co/rbdNQxH
there are charts:
1st chart - pricing, 1 bar - 1 hour
2nd chart:
- green - total btc that was bought from start of period of chart
- red - total btc that was sold from start of period of chart
3rd chart:
delta = total bought - total sold
up to now amount that is sold is bigger than amount that is bought
but some groups are taking these btc and keep price and even make that this price move up
from March 13
if they are smart rich guys - why they bought btc when price was keeping at 6600 at March, 20 for example?
there are charts:
1st chart - pricing, 1 bar - 1 hour
2nd chart:
- green - total btc that was bought from start of period of chart
- red - total btc that was sold from start of period of chart
3rd chart:
delta = total bought - total sold
up to now amount that is sold is bigger than amount that is bought
but some groups are taking these btc and keep price and even make that this price move up
from March 13
if they are smart rich guys - why they bought btc when price was keeping at 6600 at March, 20 for example?
at binance from March, 12 up to now someone spent 600 mln usd to buy btc
at binance from March, 12 up to now (April, 11) someone bought bitcoin and spent 600 mln usd to keep bitcoin at price from 7,200 up to current 6,800
all people there sell bitcoin, and someone bought all this btc, total cost of purchases are about 600 mln usd
Delta between btc that was sold and was bought - about 100 000 btc
any ideas - who, why?
all people there sell bitcoin, and someone bought all this btc, total cost of purchases are about 600 mln usd
Delta between btc that was sold and was bought - about 100 000 btc
any ideas - who, why?