{"id":379998,"date":"2019-04-27T21:00:51","date_gmt":"2019-04-27T21:00:51","guid":{"rendered":"https:\/\/ktsl888.com\/?p=379998"},"modified":"2024-06-11T07:39:50","modified_gmt":"2024-06-11T07:39:50","slug":"despite-tether-concerns-notable-analysts-bullish-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/despite-tether-concerns-notable-analysts-bullish-bitcoin\/","title":{"rendered":"Despite Tether Concerns, Notable Analysts Remain Bullish On Bitcoin (BTC)"},"content":{"rendered":"

What many thought would never happen did on Thursday. Just days after Tether Limited, the company behind the USDT stablecoin,\u00a0minted $300 million<\/a> worth of its crypto asset, reports revealed that its operator, iFinex, may be on thin ice. As a result of this news, Bitcoin (BTC<\/a>) dropped by 10% within minutes, plunging from $5,550 on Coinbase to $4,950 in a rapid sell-off.<\/p>\n

Related Reading: Crypto Divided Over Tether, Some \u201cUnequivocally\u201d Bullish On Bitcoin<\/a><\/h6>\n

But since this news broke, cryptocurrencies across the board have recovered, as some have begun to suspect that this debacle may not have a material effect on this market’s staying power.<\/p>\n

Bitcoin Holds Strong After Tether ‘FUD’<\/strong><\/h2>\n

Per analysis from The Crypto Monk, a well-followed trader, the dust from this recent imbroglio has settled, and Bitcoin’s chart structure still is “looking good for bulls.” Monk didn’t give much reasoning for this point, but the chart attached to his message did depict that BTC has held above $4.800, a key level of support as it’s where the 200-day moving average is sitting.<\/p>\n

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$BTC<\/a>:
dust has settled and this structure is still looking good for bulls.
Eyeing $5500 again.
pic.twitter.com\/RIUY3i2mM4<\/a><\/p>\n

— The Crypto Monk (@thecryptomonk) April 27, 2019<\/a><\/p><\/blockquote>\n