It looks like most of the BTC buying is Tether holders selling for Bitcoin. Most likely, the Tether insiders know it is collapsing. They are probably dumping their tether for BTC. The primary exchange site they are using is Huobi. If they are trying to unload several hundred million dollars worth, we will see a week or two of pumping. Time will tell.
I do feel that BTC should be around $10,000.00 by the end of the year. As we get closer to May of 2020 the price could meet the all time high or surpass the $20,000.00 mark. The world is becoming digitized. Blockchain is and will become both vital and necessary. People who strictly hold Gold and Silver will miss out by not having an early position in key cryptos.
What about Litecoin? Well, I see LTC being held to levels less than $300.00. I would be surprised if LTC rises above $500.00 even three years from now. It looks like the behind the curtain decision has been made to keep LTC well below $300.00 per coin. Many hold onto LTC hoping it would reach a 4 to 1 ratio of BTC. In my research that will never happen. LTC was kept around and tolerated as a test bed for its big brother BTC. Could it be used for daily exchanges? Yes, but in order for that to happen it must always be at or below $100.00.
Yes, I know this is not good news for LTC fans. I will be very happy if I am wrong. These are just some points to consider. In the future, look for coins listed in the NASDAQ. Those are the coins that will be used, protected and pumped by the establishment.
image from: coinyep.com
They are pumping BTC to make room for a dive down when Tether collapses.
Yes I agree