Bloomberg: $500 million in Tether (USDT) Has Made No Impact on Bitcoin (BTC) Price474.58

Bitcoin (BTC), Tether (USDT)–Despite Tether (USDT) printing over half a billion dollars worth of new coinage throughout the month of August, financial news outlet Bloomberg reports the move has had little to no impact upon the crypto markets.

While the company behind the most popular stablecoin cryptocurrency, now ranked 8th in total market capitalization with $2.84 billion in circulation, has been the target of numerous investigations, particularly those pertaining to the assets backing the coin, August’s massive influx of new tethers is apparently not swaying the crypto markets. Despite adding an additional $500 million worth to the total market capitalization, a move that has in the past brought accusations of Tether and its partners artificially propping up the price of the industry, Bloomberg reports that the link between new USDT hitting exchanges and an increasing Bitcoin price has eroded over the past year. Whether because of the prolonged bear cycle of 2018, which is already drawing attention for its investor fatigue, or a new market force at work, Tether no longer has the same impact as in the past.

Original source
https://ethereumworldnews.com/tether-usdt-bitcoin-btc-price-2018/

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