“Every tether is backed by a reserve and their reserve is more than what is in circulation,” Gregory Pepin, Deltec Bank’s deputy CEO, said on a podcast Friday.
Despite a bounce earlier on Friday, bitcoin may yet see further losses in the near term.
Guggenheim Partners CIO says bitcoin could retrace all the way back to $20,000.
Options traders look to be preparing for further falls in bitcoin’s price in the short-term, according to put-call skew data.
Fundstrat strategist David Grider based his bullish prediction in part on the promise of Ethereum’s technology.
Bitcoin fell from $36,000 to $34,000 Wednesday morning, despite continued buying from investors.
Bank of America’s January survey of fund managers indicated bitcoin is now seeing the most capital inflow.
Chainlink’s LINK token set a new record price early on Monday, and other altcoins are seeing solid gains.
Prices fell by 6% in the seven days to Jan. 17, a weekly fall not seen since the first week of September.
The U.S. dollar’s rise on the news maybe be playing spoilsport to the bitcoin bulls.