Another chart of Bitcoin (BTC) price movements shows that in hindsight, periods of appreciation coincide with active, concerted minting of Tether (USDT).
Bitcoin Cycles Coincided with USDT Printer
In hindsight, Bitcoin price moves upward coincided with the printing of Tether (USDT). The correlation was especially flagrant in 2017, when the supply of USDT expanded in the millions for the first time.
But in 2018, there were also distinct periods that matched the effect of USDT action.
As the year comes to a close, it's always useful to remember the impact of stable value in the #cryptoasset market.
The chart below overlays Tether supply on $BTC returns.
— elias.eth (@eliasimos) December 12, 2019