Top 4 reasons to invest in Bitcoin right now, analysis of the current situation

There are at least four compelling reasons why you should consider investing in Bitcoin (BTC) this weekend.

But you must act carefully and deliberately, because at the moment the markets are very unstable. For example, on Friday morning, the BTC fell by $ 1000 in just 90 minutes, although, as expected, it quickly won back this correction by Saturday morning.

The dependence of the BTC on the emission of Tether

The first reason for buying BTC is quite simple: this week, Tether , having a very ambiguous reputation, released another batch of steylcoin worth $ 100 million.

They were issued on the Ethereum blockchain, with the result that the total USDT issue in this network was $ 1.1 billion.

You do not need to be a conspiracy theorist of the USDT to notice a correlation between USDT emissions and the price of Bitcoin. Each new Tether issue raises the price of Bitcoin.

When in November 2018 Tether was withdrawn from the market in the amount of $ 300 million, the price fell below $ 6000. When a couple of months ago added $ 300 million to Tether, the price soared.

According to CoinGecko, in June the monthly volume of Tether exceeded $ 1 trillion for the first time, in the same month the price of BTC increased by 50%.

Bitcoin Theory / USDT # 1

There are two main considerations: first, Tether is manipulating the market, including through the media. This is becoming more common using sites such as the Financial Times and ending with Decrypt .

Studies conducted last year at the University of Texas showed that "using algorithms for analyzing blockchain data, it was revealed that purchases using Tether are calculated based on the time of market downturns and lead to a significant increase in bitcoin prices."

Bitcoin Theory / USDT # 2

Another theory is that Tether reflects actual demand. This was said at the beginning of this week by the executive director of Kraken cryptobirth, Jess Powell:

“I have no insider data on what is happening in Tether, but I can say that historically, when the Tether emission increased, we noted an increase in US dollar inflows on our stock exchange. Other exchanges report the same.

Whenever a new Tether is issued, in 99% of cases tons of US dollars go to the exchanges, which are not reflected as Tether on the blockchain. I think Tether stuffing is the result of a new Fiat infusion. ”

Given this relationship, it is probably worthwhile to at least think about the timing of the purchase of BTC during the period of the new issue of Tether.

#Bitcoin has the latest surge in #bitcoin . Watch as @krakenfx CEO @jespow details to @OJRenick why the controversy over the stablecoin is much ado about nothing. $ BTC $ USDT

– TD Ameritrade Network (@TDANetwork) July 1, 2019

Technical Analysis Indicators Indicate Upward Trend

The second reason for buying Bitcoins before the weekend is associated with technical indicators that indicate a new record high is reached.

“Daily Stochastics have gone up. The last time this happened was on June 11, when Bitcoin was at the level of $ 8,000 before the rally to $ 14,000.

The cross was formed on April 30, after which over the next two weeks, Bitcoin rose from $ 5,300 to $ 8,500. Both crosses rose by 65% and increased by 80%, reinforcing today's cross, ”CoinRivet shared his analysis .

If this analysis is correct (besides it there are many other forecasts), this will lead to a price increase to a new level above $ 20,000.

BTC course bursts most often occur on weekends

The third reason to think about buying Bitcoin is that cryptocurrencies are more volatile over the weekend.

Over the past couple of months, more than 40% of BTC price increases were observed on weekends, and the coin reached its record high on December 2017 in Saturday.

Bloomberg analysts link the price spikes of the weekend with the tradition of large projects to publish news on Monday, until then, traders speculate on rumors and thereby earn money.

However, a more significant factor is the decrease in the number of traders, which leads to large price movements.

“The fact that these markets operate when banks are closed, leads to an increase in price movements. In addition, it is easier and faster to turn deals when everyone is asleep or busy with their business, as on weekends, ”said Jonathan Dzhepettini, head of international operations in digital currency Decred.

Bloomberg Intelligence analyst Mike McGlone agreed with this statement, adding that "more sophisticated traders choose time and methods with the least resistance for profit."

Until the end of the week there is a 25% discount on cloud mining.

The fourth reason is favorable conditions for investment in the extraction of cryptocurrency, valid until the end of this week. Until July 8, 2019, in the service of cloud mining IQMining, a 25% discount is valid for the promo code IQ25SUMMER .

The promotion applies to all types of contracts. More information about the terms of the promotion can be found at https://iqmining.com .

Posted 06/07/2019
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