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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Is Over $3 Billion Is Sidelined Waiting to Enter Bitcoin and Altcoins?

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read

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This week, Bitcoin broke through key overhead resistance at $4,200 and rallied nearly $1,000 in a matter of an hour to over $5,000. The powerful rally may have signaled the end of the bear market that has been plaguing Bitcoin and altcoins for over a year, setting a higher high and capturing the attention of crypto supporters and pundits alike.

As bullish momentum picks up, new capital will flow into the crypto market. But capital that’s been sidelined in the crypto space all along, as much as $3 billion dollars worth, could also flow directly back into Bitcoin and altcoins like Litecoin or Ripple.

$3B in Crypto Just Waiting to Flow Into Bitcoin and Alts

Bullish sentiment in “crypto Twitter” has been ignited ever since Bitcoin’s break from its prior trading range between $3,200 and $4,200. It’s caused even the most bearish analysts to begin to consider bullish scenarios.

https://twitter.com/HabichtJonathan/status/1113797417797849092

One particularly bullish scenario, would see as much as $3 billion in stablecoins that are currently “parked” waiting to enter the market once again, according to Blockfyre founder Jonathan Habicht, Habicht claims that investors currently sitting in Tether, USD Coin, and other fiat-backed stable coins have never actually left the crypto market, and could re-enter at any time.

Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally 

The bullish claim was backed up by eToro senior market analyst Matt Greenspan, who suggests that there could be as much as $3 billion currently waiting for the right time to flow back into Bitcoin and other various altcoins.

Nearly $3 billion ready to flow into BTC and alts. https://t.co/kWTNCtbyZM

— Mati (@MatiGreenspan) April 5, 2019

But Is Capital Really Ever “Parked” In Tether?

While Tether’s market cap alone supports up to $2 billion of the over $3 billion in “parked” crypto cited by Jonathan Habicht, there’s an argument to be made that much of the funds aren’t ever actually “parked” in Tether, and the capital regularly flows in and out of other coins on the market.

Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value

As one trader points out, Tether volumes trader over 5 times the entire market cap daily, which suggests that much of Tether is changing hands and flowing in and out of other cryptocurrencies on a regular basis. Therefore, the total $3 billion the analysts are eyeing may never fully make it into Bitcoin or altcoins all at once.

https://twitter.com/Mike_Chapman_/status/1114082570684313600

It’s worth noting that much of reported cryptocurrency trading volumes, including Tether have been called into question in recent days, suggesting that wash trading has been running rampant across exchanges in the industry. But the idea that all stable coins will suddenly be dumped in favor of Bitcoin and altcoins will likely never come to light, as there will always be investors who are “tethering up” at the sign of any bearish signals.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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