Bitcoin to USDT offers the possibility for trading a combination of a strong cryptocurrency against one of the strongest and most popular stablecoins.
The BTC to USDT rate can fluctuate a few per cent during the trading day and the price swings offer multiple trading opportunities. The value of Bitcoin to USDT can move up to five per cent throughout the week, forming a mild trend with some significant breakouts.
Since its introduction in 2008, the Bitcoin had a significant impact on the financial markets and on trading. Despite the scepticism related to BTC in the early years, it is now one of the most actively traded cryptocurrencies in the world. Bitcoin is a base or quoted currency in tens of currency pairs with a daily trading volume reaching tens of billions of pounds.
The supply and demand for Bitcoins have a major influence on its price. The cost for mining Bitcoins also affects the value of BTC, in a way that higher costs would imply that BTC value should increase or mining would be unprofitable. The number and strength of competitive cryptocurrencies and the number of currency exchanges which quote the BTC can positively or negatively impact BTC value. Moreover, different regulations and legal issues can affect the value as it was evident in the past.
Tether, also known as USDT, was launched in 2014. It is a cryptocurrency initially based on the Bitcoin blockchain technology through the Omni Layer Protocol. The interesting aspect about this crypto is that each USDT claims to be tethered (backed) by a USD . The USDT is pegged to the USD as a fiat currency at a ratio of 1:1.
The value of Tether can be under the influence of the overall cryptocurrency market and of the factors specific to the USDT currency. Any news and announcements related to Tether may have an effect on the BTC to USDT exchange rate. In particular, the announcements related to the level of reserves which should be held to back the digital coins in circulation, since they have had an effect in the past.
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