Tether Behind Bitcoin’s $4000 to $13,800 Bull Rally: Analyst

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A crypto Twitter analyst believes that Tether’s USDT issuances are the real catalyst of the Bitcoin price bull move from $4,000 to $13,800. Bitcoin is not “Sound Money” Earlier this week twitter personality Andrew Rennhack suggested that Bitcoin’s explosive rally from $4,000 to $13,800 was primarily fuelled by Tether printing a vast amount of USDT. According to Rennhack, Bitcoin is not “sound money” as “the entire cryptocurrency market is backed by unaudited Tether which has the top 24-hr trading volume.” Humorously, Rennhack claims that Tether’s USDT issuance rate would “make even the FED blush”. Rennhack is of the opinion that there is no reasonable explanation for Bitcoin’s huge bull run, and he disregards the frequent talking point that “institutional investors rushed to buy BTC” as a hedge against stock market volatility. A Long Running Conspiracy Rennhack isn’t the first person to suggest that Tether’s increasing market cap directly impacts Bitcoin…

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