22 min listen
1006: STABLECOIN PATTERN SUGGEST MASSIVE BITCOIN BREAKOUT INCOMING, SAYS TOP CRYPTO ANALYTICS FIRM!!
FromCrypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
1006: STABLECOIN PATTERN SUGGEST MASSIVE BITCOIN BREAKOUT INCOMING, SAYS TOP CRYPTO ANALYTICS FIRM!!
FromCrypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
ratings:
Length:
23 minutes
Released:
Aug 3, 2022
Format:
Podcast episode
Description
Crypto analytics firm Santiment says that the dwindling supply of stablecoins may be a sign that a massive Bitcoin breakout is on the horizon.
According to the market intelligence firm, the circulating supply of Tether (USDT) and USD Coin (USDC), the two biggest cryptocurrency stablecoins by market cap, has been dramatically decreasing since May 2022.
Santiment says that the volume of these two assets continues to decline even as the price of Bitcoin rises, which in the past has foreshadowed parabolic BTC rallies, specifically in July 2021 right before the king crypto went from the $29,000 level all the way to $69,000.
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According to the market intelligence firm, the circulating supply of Tether (USDT) and USD Coin (USDC), the two biggest cryptocurrency stablecoins by market cap, has been dramatically decreasing since May 2022.
Santiment says that the volume of these two assets continues to decline even as the price of Bitcoin rises, which in the past has foreshadowed parabolic BTC rallies, specifically in July 2021 right before the king crypto went from the $29,000 level all the way to $69,000.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Aug 3, 2022
Format:
Podcast episode
Titles in the series (100)
599: BITCOIN HITS STOCK-TO-FLOW REBOUND LEVEL NOT SEEN SINCE 2017 ATH!! CRYPTO TO TRANSFORM 4 INDUSTRIES!: Deviation from the stock-to-flow average has always resulted in a reversal to new all-time highs, data shows. Both 2013 and 2017 ultimately saw a two-tier run to an all-time high. The first peak was followed by a significant drawdown in each instance,... by Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News