Before making Tether Price Prediction, you need to know some basic facts about Tether. Tether coin is among top 10 cryptocurrencies by market cap.
Given the conspiracy made on Tether, I thought of taking a detailed look at what Tether exactly is? What is its role in the market? and why it has become so integrated into the cryptocurrency system. People talk about tokens these days without fully understanding it. This article will help you understand Tether so you can make better investment decisions.
It is the first cryptocurrency that backed by fiat currency and based on bitcoin blockchain. Which means this currency will protect its investors from the volatility of cryptocurrencies.
Currently, its competitor cryptocurrencies are Bitcoin Cash, Bitcoin Gold, EOS, NEO, Ubiq (UBX), Cardano (ADA), and Edgeless etc. and all of them are doing well at their own.
Well, you might be thinking “Should I buy USDT today?” Please hold a bit and read the complete article first.
What is Tether?
Basically, it’s a cryptocurrency like other cryptocurrencies Issued on the Bitcoin blockchain via the Omni Layer Protocol.
Basically, Tether is used as US Dollar, i.e. Each Tether has a value equivalent to that of a single US Dollar. Tether is held down to the USD to make sure that the value of a single Tether is always the same as the value of US Dollar and for every Tether token issued to someone, an asset of equivalent value is held by Tether Ltd.
Tether Limited is a government registered company that issues Tethers, i.e. Tether can be bought via Tether Ltd. instead of using USD we use USDT and the reason is if you want to exchange your bitcoin to USD, you would have to convert your bitcoin into cash and transfer it into your bank account. It’s a long process and difficult to trade bitcoin this way.
Tether maintain its price $1 as it is designed to be backed by fiat currency dollar which means 1$=1USDT. This currency was introduced in 2014. You can buy and sale USDT in different exchanges. Tether generated 9.95 M $ in the first month of January 2017 and at the time of writing this article, it reaches up to $2,657,778,059 USD with $1.00 USD price today.
Todays Tether Price
Tether Price Prediction 2018, 2019, 2020, 2023, 2025
People are searching like what is the future of Tether USDT? Tether price forecast? Etc. The answer with justification is given below:
As a trader and investor, we have to think in different possible ways to decreases the level risk of loss of money and increasing profitability. This is a fact that this cryptocurrency will rarely be seen in extreme price shift in future because of the one fact that it is based on paper currency.
The fact is in December 2017 the price of almost all top cryptocurrency makes exponential growth in price. At that time Tether ranges around 1 $ too.
Currently, 2,657,140,346 USDT are in circulating supply with $2,657,778,059 USD market share. As you may be also in one of the crypto enthusiasts who looks for an altcoin whose price will change by the second. Well, it offers one of the most solid means to store asserts but its price will hardly be shooting up.
At present Tether is trading at 0.00013613 BTC and at No. 10 cryptocurrency. If you are wondering if its price is going to increases to the moon or crashing down.
There are total supply of 3,080,109,502 USDT available from which 2,657,140,346 USDT are in circulation. From 2014 to till date its lowest price in USD was 0.96 $ and the highest was 1.04 $. In that period we have witnessed lots of ups and down in the industry.
One of the analysis states that in the year 2023, the Tether price will be at $1.026 which is quite possible. If we believe in that analysis we need to wait for 5 years at least to witness the rise in .026 $ in Tether coin.
Can Tether reach, replace, pass or overtake Top 9 Cryptocurrencies?
Frankly speaking at present it is impossible and in future, it may cross 2 to 3 coins but for how long it will resist it is again a question. With this much supply, it will take very long to compete big giant like BTC, XRP, and ETH etc.
If you have patience and you can wait at least 5 to 10 years go ahead and make the investment in this coin. As we see Tether Price Prediction for 2019, 2020, it seems its price will not raise.