When did USDT have problems (Will USDT skyrocket)?
When did USDT have problems? According to the latest news, as of April 30, 2019
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When did USDT have problems? According to the latest news, as of April 30, 2019, the circulation of USDT reached 200 million coins.
By the end of 2020, the circulation of USDT on global major exchanges such as Bitfinex, Huobi, and Poloniex exceeded 600 million coins, with 100 million coins supporting the Ethereum network. From this data, it can be seen that since 2018, the entire industry has been paying attention to the development of USDT, and many friends know what happened to USDT, but they don’t really understand what it is. So let’s take a look together now!
Will USDT skyrocket?
The trading price of USDT reached its peak in January 2018, and then experienced a sharp decline and skyrocketing. According to the latest data, the current price only appeared in late November last year.
As Bitcoin fell from above $20,000 to around $1,000, the price of USDT also rebounded slightly. According to Cointelegraph reports, USDT has risen by more than 30% this year. The increase since the beginning of 2020 has reached nearly 20%. The decline that began at the end of 2018 led many people to believe that this would further drive up USDT. But now it seems that this trend may be changing. “If we really see the end of the bull market, similar to 2017, then we will enter a bear market.”
What is the future value of USDT? Its growth is different from other financial instruments: it is a completely different form of currency, and its issuance is controlled by a central institution, so it cannot be changed. It is very important to achieve this through the use of stablecoins; it enables investors to invest in risky companies such as stocks and bonds. It is also used to pay company employees or company taxes in exchange for rewards, eliminating bank runs.
So there are two situations that may have an impact: the first is the increasing market interest in this category of assets due to Bitcoin’s popularity as a digital asset; the second is the interest of governments around the world in cryptocurrencies; and the third point is the popularization of Bitcoin as a commodity, which makes people realize the feasibility of the currency and regard it as a “safe haven.” Of course, there are also many factors that will drive up the price of USDT.
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