Bitcoin (BTC) will never be the same and it’s too late to use Tether (USDT) as an excuse to be bearish, Cointelegraph Markets analyst filbfilb says.
In a series of tweets on Feb. 10, the popular analyst and co-founder of trading suite Decentrader said that the cat was out of the bag for Bitcoin going mainstream.
“The game has changed” for Bitcoin
Bitcoin’s mainstream presence has exploded since Tesla purchased $1.5 billion of BTC, but not everyone is convinced. Within crypto circles, some still point to stablecoin Tether’s emission and backing as reasons to be bearish.
As Cointelegraph reported, rumors continue to circulate about the financial buoyancy of Tether’s issuer, despite multiple backlashes and USDT supply increasing at unprecedented rates.
“The game has changed”, filbfilb summarized, noting that daily printing alone had reached $1 billion.
Tether market cap 1-day candle chart. Source: TradingView
As such, short-term price targets are not only $50,000, but as high as $63,000 including some consolidatory moves along the way.
“IMO Title: Too late for Tether ‘FUD’ as Bitcoin price poised to hit $63K, says trader filbfilb
Sourced From: cointelegraph.com/news/too-late-for-tether-fud-as-bitcoin-price-poised-to-hit-63k-says-trader-filbfilb
Published Date: Wed, 10 Feb 2021 10:22:29 +0000