Bitcoin Price Analysis: Bitcoin Consolidation Forecasts $3,500 Move


A strong round of buys hit the market this weekend as unsubstantiated rumors began to circle surrounding Tether and Bitfinex’s potential insolvency. I won’t be going into the details surrounding the allegations because, like I said, they are nothing more than unsubstantiated rumors. However, the effects of the rumors did not go unnoticed.

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Tether, a stablecoin and dollar-backed token, began to stack up a sizable premium from its normal 1:1, dollar-to-tether market rate. This deviation in…

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