Tether (USDT) Price Analysis: Tether Market on a Sloppy Progression
Tether is a digital currency which is not completely similar to its counter currencies or the fiat currencies, but it offers the best of both worlds. The value of one Tether is pegged to the value of a fiat currency. Tether is the most popular stable coin and even acts as a dollar replacement on many popular exchanges. It primarily works on offering some stability to the otherwise volatile crypto space and also, offers liquidity to exchanges who can’t deal in dollars and with banks. This cryptocurrency is majorly supported by the national currencies – the USD, the Euro, and the Yen.
Tether’s market cap value was trading at USD 2,208,924,034 on April 01 at 07:34 UTC. USDT is getting traded at 1.00 USD. This is based on the circulating supply of 2,028,852,790 USDT out of a total supply of 2,580,057,493 USDT. Based on the coins’ market cap value, Tether is ranked 9th largest cryptocurrency in the market. The current value of USDT is equivalent to 0.999106 USD or 0.00024257 BTC at 09:39 UTC. Also, the Mcap is getting traded at USD 2,027,038,665 for its 24 hours volume of $8,607,275,973. Comparing to the highest value on March 30 at 11:34 UTC, the mcap value traded at USD 2,071,511,113, and the value of USDT is estimated to be 1.02 USD or 0.00024822 BTC. These values provide a percentage difference on an average shows a decrease in value close to 2.19% from the high couple of days earlier. The current value of USD at 1.00 shows an increasing percentage from its lowest of 0.992881 USD on February 06 remains as a good support resistance. The 20-day EMA stands in proof of the linear values with an insignificant increase from USD 2,011,605,186 on March 12. The bulls pressure supports the moderate increase in values.
Predictions for the future price of this cryptocurrency show a positive outcome. The wallet investor cryptocurrency predicts that the coin will increase by an average of 1.049-1.058 USD by the end of 2019. Also, estimates a further growth percentage of 20.21% by 2024, where the price would reach a high of 1.201 by five years’ time period. The digital coin is in support of the market growth of the crypto-coin with its predictions highlighting the price reaching 1.77 USD by the end of 2019. And a further growth by 124.29% by the end of 2024. The price value is expected to cross 3.97 USD in 5 years. Coin switch, though moderate expects growth of 1.001 USD, 1.006 USD and 1.02 USD in 1 year, three years and five years term respectively. However, the trading beasts forecast a declination in the price of Tether. The price is expected to range between 0.51 USD-0.75 USD by the end of 2019, with a 33.33% fall from the current trading price.
The current market has been static with no significant increase in price. Though the estimations tempt with increasing price values, the present market’s situation does not back the predictions. The market does not suit investments of any kind. The traders and the investors with plans of long term and short term investments are advised to observe the market trend. Once there is a stable increase in the price, their investments would be benefitted.