Forecast: The influx of stablecoins to exchanges will support Bitcoin this week
The largest digital currency, Bitcoin, is currently trading at $ 15,300.
After falling to $ 14,500 last week, BTC was able to win back some of the lost positions, but the lack of proper support prevents the coin from approaching $ 16,000 again.
Analysts from the Santiment team presented data from which it follows that over the past seven days, Tether stablecoins (USDT) in the amount of up to $ 365 million have been transferred to exchanges daily.
If we take into account the fact that investors enter the crypto sphere precisely through this instrument, then we can predict further strengthening of bitcoin.
The researchers believe that a repeat of the three-year high is quite possible as cryptocurrency accumulation continues.
A similar point of view is shared by the WhaleMap team, which monitors the activity of the so-called "bitcoin whales". The day before, these analysts published their report, which says that large BTC holders at this stage are still determined to update the highs.
For the "bullish" trend to remain dominant, Bitcoin needs to stay above $ 13,600. This mark acts as a kind of starting point for any new leaps in BTC, noted in the platform review.