$100 Mln Tether Transferred to BitFinex, Will Bitcoin Reach $8,000?

  • Alex Dovbnya
    📰 News

    A whopping amount of Tether moved to BitFinex. Many speculated would lead to another major BTC price spike. New Tether dump didn’t seem to produce a noticeable effect


$100 Mln Tether Transferred to BitFinex, Will Bitcoin Reach $8,000?

A whopping amount of Tether has been moved to a cryptocurrency exchange BitFinex. Many speculated would lead to another major BTC price spike. Notably, a recent Bitcoin uptrend, which happened on Aug. 21 and led to a $650 increase in price, was also inextricably connected to a controversial stablecoin.

The new Tether dump didn’t seem to produce a noticeable effect on the king of crypto so far. Instead, plenty of Bitfinex traders started shorting Bitcoin, dismissing the possibility of another bull run.

Earlier, U. Today reported that Tether might have lost its leverage over Bitcoin price.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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