Bitcoin (BTC) will never be the same, and it is too late to use Tether (USDT) as an excuse for bearish sentiment, Cointelegraph Markets analyst Philpville said.
On February 10, in a series of tweets, the well-known analyst and co-founder of the Decentrader trading package reported that the cat fell out of the bitcoin wallet.
“The Game Has Changed” for Bitcoin
Bitcoin’s regular presence has expanded since Tesla bought $ 1.5 billion worth of Bitcoin, but not everyone is sure. In cryptocurrency circles, some still point to the resurgence of Tether and support it as reasons for the bearish sentiment.
As Cointelegraph reports, there are still rumors of a recovery in Tether’s economy despite numerous reactions and an unprecedented rise in access to USDT.
Philbfilb summed it up: “The game has changed” and noted that the daily circulation alone is one billion dollars.
Tether candlestick chart for the daily market. Source: TradingView
So the short-term target prices are not just $ 50,000, but $ 63,000, including some consolidation steps along the way.
“IMO’s target for consolidation is around 52k, so I expect some correction, but overall the measured movement should bring us to 63,” he added in a message to subscribers on the Telegram trade channel.
He suggested that aggressive sellers were already below the demand level.
Don’t bother with bears
On the topic of corporate adoption, he added that there are industries that many have not thought about, making the downward trend in Bitcoin redundant. Consumers are already indirectly trading bitcoin, and the returns on the stocks of companies that have already made commitments will ignite.
“I really don’t think people understand that the bitcoin-holding S & P500 companies mean that people’s pensions are practically dependent on bitcoin. The share of people who have invested in bitcoins has already reached the masses, and they do not know it, ”wrote.
“The premium when it comes to valuing shares on MSTR, combined with today’s economic environment, means shareholders will demand access to bitcoin. However, most remittances are bearish. They never change. ”
That sentiment bluntly rejects the cautious words of JPMorgan analysts this week, who argued that few companies will follow Tesla and MicroStrategy in bitcoin due to volatility.
However, Michael Sailor, CEO of MicroStrategy, claimed responsibility for the hesitation by speaking to CNN.
He said, “If you’re looking for a long-term interest in your shareholders, I think they would rather you double your money every six months than lose 75% of your money with a guarantee for the next eight years.” network.