The post Tether Mints 8B USDT in 8 days, Backing Bitcoin’s Surge appeared on BitcoinEthereumNews.com.

Bitcoin is trading in a Wednesday`s range with the potential for more gains after Tether injected $6 billion USDT into the market. Bitcoin has more room to grow, according to Satoshimeter, and historical cycle analysis shows Bitcoin’s highs could hit the $200,000 to $500,000 range. Currently, Bitcoin’s price remains inside the range of Wednesday’s trading session. It saw an impressive bullish move that commenced at the beginning of the week. – Advertisement – The coin is now trading slightly below $91 500 after recording a surge of 20% since November 10, which saw BTC hitting a new high of $93,433 Tether has recently issued an additional 2 billion USDT on Tron and Ethereum. This adds up to its recently issued 8 billion USDT over the course of 8 days. Of this, a total of 6.067 billion USDT has already been pumped into the cryptocurrency market. Large chunk being transferred to crypto exchanges such as Kraken, Binance, and Coinbase. – Advertisement – Such inflations in liquidity can act as a big factor for Bitcoin. This can push the prices of Bitcoin to a higher range, possibly above $93,000, inching even closer to setting yet another record high. According to the report, Kraken has acquired the larger percentage, followed by Binance Coinbase metrics. Such injections paint a picture of a great liquidity enhancement. It is either reflected in readiness for likely enhanced trading activities or to back speculated price shifts in the market. 2022-2025 Cycle Suggests a Major Bull Run Aurelien Ohayon compares the price cycles of Bitcoins in the years 2014 to 2017. The cycle expected to take place from 2022 to 2025, and this possibly creates room for a new bull run. The analysis demonstrates the three phases that occur in each cycle, marked with an index of 1, 2,…

---

Filed under: News - @ November 17, 2024 2:11 am