USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.
Therefore, USDT could be used to indirectly measure the amount of money coming in and out of crypto market cap. In this example, we are looking at Ethereum. Look at the spikes on USDT chart and compare them with ETH movements. When more USD is converted to USDT, there will be a small jump in the price of USDT and you can see a green vertical line. As you can see, these green vertical lines are correlated with future moves in the crypto market. And when the line is red, there has been a correction or a sideway movement following with that line. Now look at line #4. Seems like this dip was bought heavily so we should see the 5th wave forming.
Therefore, USDT could be used to indirectly measure the amount of money coming in and out of crypto market cap. In this example, we are looking at Ethereum. Look at the spikes on USDT chart and compare them with ETH movements. When more USD is converted to USDT, there will be a small jump in the price of USDT and you can see a green vertical line. As you can see, these green vertical lines are correlated with future moves in the crypto market. And when the line is red, there has been a correction or a sideway movement following with that line. Now look at line #4. Seems like this dip was bought heavily so we should see the 5th wave forming.
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Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
