Tether Price Analysis: Recent Tether Price Drop, What Does It Tells Us?
Tether remained in the news for the last few months about its lack of transparency and was accused of manipulation of bitcoin prices. Right now, everyone is waiting to hear about the results of a dispute between Tether limited and NYAG.
In spite of these recent events, USDT is traded on almost every crypto exchange and is the most favored trading pair almost everywhere.
It is always expected to be equal to the US dollar. The price drops on USDT to USD are not that big compared to the rest of the crypto market. In other words, watching for USDT movement is as same as watching the rates of the usual US Dollar.
USDT Current Statistics:
Right now, on June 19, 2019, at UTC 08:56:59, Tether is trading at a price $1.00. The price has dropped b 0.45% compared to yesterday’s price. Market capitalization for today is 3,534,981,435 USD with circulating supply of 3,529,784,845 USDT. Tether coins trading volume for last 24 hours is 14,406,773,856 USD.
MACD (12, 26) indicator is with 2% of buy/hold return. With 17.20% profitable percent and Avg win / Avg loss ratio being 0.566 Indicators are favorable with Tether coin. BTC value of the currency is also up by 0.80% at the moment, i.e., 0.00010970 BTC.
A current Return on Investment is 0.15% with a coin in Bull Run. Analysts and technical analysis are suggesting buying this currency.
We are viewing a big price drop from yesterday. After a lucrative performance for the last ten days, the currency price dropped dramatically by 0.45% yesterday. Hitting the lowest value of 0.998535 USD for the week so far, Tether (Tether to USD) price closed on 0.999952 USD. Just a while before that, USDT was at the highest price of the day trading at 1.01 USD.
Tethers Price Prediction:
With the downtrend in the crypto market and price fluctuation in US dollar price, Tethers prices are bound to vary. USDT has been able to maintain its Bull Run even in the difficult market situation. Now price of Tether seems to succumb to the Market Trend.
On the one hand, Analysts and forecasters have high hopes for this stable coin. And on the other hand, investors are skeptical. The reason is not the market trend. Team Tether has not been making any efforts to clear the controversies after recent allegations, and this is what giving nightmares to crypto buyers. They are finding it hard to put trust in this stable coin again.
Conclusion:
Given all the confusion in the market about this currency, it is not easy to predict the future for this coin. If you are the one who trusts in technical analysis, while investing in the market, numbers are in favor of Tether. Buy and hold the currency for profitable returns according to current data.
