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Advertisement

Quant Analyst: Surging Stablecoin Supply To Drive Unprecedented Bitcoin Buy Pressure

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin
0
Advertisement

As Bitcoin soars toward a new all-time high and has recaptured the interest of the world of finance, a sizable supply of liquidity is building on exchanges, not in BTC, but in stablecoins. The rising supply alongside surging crypto valuations suggests that the recent rally is “liquidity-driven,” according to one cryptocurrency quantitative analyst.

That liquidity as it continues to stack up on exchanges everywhere could soon bring the most “unprecedented buying pressure in history” to the crypto market. Could the likes of Tether and USD Coin be the key to unlocking the prices in Bitcoin that experts someday predict?

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“Liquidity-Driven Market Rally” Takes Bitcoin To Nearly $20,000

Bitcoin price is nearing $20,000, and at this point, the asset has gone parabolic, and most technical analysis has gone out the window. Trendlines no longer hold the unstoppable cryptocurrency back, and indicators have been overheated for weeks on end with not so much as a stumble, let alone a significant pullback.

Beyond technical analysis, fundamental analysis – consisting of quantitive and qualitative analysis – can also be used to determining the health or strength of an asset and its expected performance. Data showing that BTC was moving off of exchanges was perhaps the most useful information leading up to the recent rally.

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With no BTC on exchanges to buy and a diminishing supply, a sell-side liquidity crisis played out, sending the cryptocurrency from $10,000 to $20,000 in a few months flat.

With Bitcoin still trending hard and technicals remaining unreliable, quantitative data is king. And according to a leading crypto quant analyst, there is plenty of reason for more upside. In fact, billions and billions of reasons are pilling up on exchanges right now.

#Stablecoin supply on exchanges is crazy.

Sooner or later, you'll experience unprecedented buying pressure in history.

View Chart ? https://t.co/poOIDo49Uk pic.twitter.com/y8aqwR3Rv0

— Ki Young Ju 주기영 (@ki_young_ju) November 25, 2020

Crypto Quant CEO: Stablecoin Supply To Drive “Unprecedented Buying Pressure”

According to Ki Young Ju, CEO of Crypto Quant, the stablecoin supply is growing rapidly on cryptocurrency exchanges. This liquidity, he claims, will soon drive “unprecedented buying pressure” in crypto markets. The capital pouring in tells the CEO that the current rally is liquidity-driven, and is set to continue henceforth.

RELATED READING | WHY THE RECORD $5,000 BITCOIN MONTHLY CLOSE COULD SOON BECOME THE NORM

The data is yet another factor backing up the theory that Bitcoin has begun a new bull trend, and could reach some of the astronomical prices that experts predict.

bitcoin btcusd tether btcusdt usdt stablecoin

Bitcoin rallies with each injection of more Tether into the market | Source: BTCUSD on TradingView.com

In the past, sharp-eyed crypto analysts notice a correlation between new Tether minted and Bitcoin rallies. That relationship is all due to the liquidity that the stablecoin supplies, which eventually flows into the Bitcoin and crypto market cap.

But liquidity pouring in like never before, things will only get more bullish for Bitcoin and crypto from here on out.

Featured image from Deposit Photos, Charts from TradingView.com and Crypto Quant
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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