Tether USDT Market Cap (December 29th 2020 through June 2021)
Low: 28-88k
High: 116-188k
It really really depends on how everything in the markets play out. Tether's market cap looks overinflated but I don't know what correlation can be drawn from this metric. All I see is that tether hasn't stopped printing since November 2018.
I think we could either have an amazing run all the way to 188k or we stop short at 116k and fall flat to below 88k, 28k as a bearish target in my mind. I don't think the trend channel I've put in will be accurate but we will have more clues once that is broken. There could be some seriously huge candles coming soon with all the madness going on. I also didn't have enough data in the chart history from before Aug 2018 to see if my trend based fibonaccis are correct but I'm taking a shot in the dark based on what I have of the current wave.
1 thing to consider is the recently suggested STABLE act in congressional oversight, which could stand to hurt Tether and the crypto markets as a whole if enacted. This could be a wild ride regardless what happens in the next few months.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Low: 28-88k
High: 116-188k
It really really depends on how everything in the markets play out. Tether's market cap looks overinflated but I don't know what correlation can be drawn from this metric. All I see is that tether hasn't stopped printing since November 2018.
I think we could either have an amazing run all the way to 188k or we stop short at 116k and fall flat to below 88k, 28k as a bearish target in my mind. I don't think the trend channel I've put in will be accurate but we will have more clues once that is broken. There could be some seriously huge candles coming soon with all the madness going on. I also didn't have enough data in the chart history from before Aug 2018 to see if my trend based fibonaccis are correct but I'm taking a shot in the dark based on what I have of the current wave.
1 thing to consider is the recently suggested STABLE act in congressional oversight, which could stand to hurt Tether and the crypto markets as a whole if enacted. This could be a wild ride regardless what happens in the next few months.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
