Tether (USDT) Price Analysis: Step Lightly, Step cautiously!

With amplified everyday fluctuations, cryptocurrencies are not that viable for conventional usage. Despite the fact that price swings of the market are what attracts the investors and makes cryptocurrency a provisional asset, there are certain limits to its effectiveness as a medium of exchange.

To make the cryptocurrencies use as a regular one, this high unpredictability requires to be tackled. This is where stable coins come in the picture. Tether is a stable coin that was brilliantly twisted to be secure enough in its purchasing power or to slightly support the price rise.

To put simply, Tether is a cryptocurrency that is supposed to have fixed price calculated by a fiat currency that is mainly U. S. dollar.

Tether Price Chart

Currently, at 08:04:57 UTC, on June 11, 2019, USDT traded up by 0.47% aligned with U. S. Dollar at the price rate of $1.01. In the last twenty-four hours, the price has increased by 0.36%. Right now, the market cap is   $3,300,373,526 USD and circulating supply is 3,276,289,280. 24-hour volume is $17,914,792,849 USD.

Technical analysis is showing growth with Return on Investment of 0.76%. Present data implies a positive trend in the future. With the start of the bullish cycle, USDT can be a good option for investing.

USDT Price Prediction

It was two years back, in May 2017, when Tether had achieved its all-time high at $1.21 USD. Just the three months before it, in February 2017, USDT was trading on its lowest price of 0.8489 USD. Since the launch of Tether, this was the only volatility of this currency that drove investors crazy.  For last year, in 2018, the currency remained mostly stable.

However, from the beginning of 2019, the price has succumbed to the controversies and unpredictably of the market. It has been varying every day since. As compared to the rest of the cryptocurrencies and market, these variations may look very small. Yet, they are enough to make the investors skeptic.

Based on price analysis for the last 30 days,…

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