Bitcoin price growth at the beginning of the week is again associated with Tether

The second big Tether show of the last two weeks gives hope for the revival of the market and the rising price of Bitcoin.

Shortly before the last takeoff of the BTC at $ 6700, on August 21st, 100 million USDT tokens were sent on the Bitfinex exchange wallet. Yesterday, September 2, an additional $ 100 million was sent. Traders do not rule out the possibility that this amount will help break the price resistance of the BTC and test the upper limit of the upstream channel. According to various estimates, this level can range from 7600.00 USD to 7800.00 USD.

The Tether Stablecoin, tied to the dollar, is constantly suspected of manipulating the course of Bitcoin. Analysts are trying to link the high volatility of the Bitcoin market with the sending of Tether on Bitfinex accounts. Basing themselves, as a rule, on observations of the BTC's behavior after USDT issues, the community and some experts accuse Tether of conspiracy with the BitFinex exchange.

The wave of charges against USDT has eased a bit after the confirmation of the law firm Freeh Sporkin & Sullivan LLP (FSS) about the presence of about $ 2.55 billion in Tether's bank accounts . In addition, Bloomberg analysts have published their findings on the impact of the USD 50 million issue on the price of bitcoin.

Rejecting the conclusions of the University of Texas Finance Department on the manipulative nature of Tether's emissions in 2017.

As of September 3, Tether's total capitalization was $ 2,842,909,681 and the trading volume for the last 24 hours is $ 2,708,266,539.

Some traders view Tether as a specific technical indicator predicting a certain increase in the price of bitcoin. However, this is a controversial issue and building optimistic forecasts based on this is incorrect.