17 Apr Cryptocurrency News Roundup for April 16, 2020
Hours after dipping to a two-week low of $6,470, Bitcoin
BUY NOW got its act together and shook off the bears to make a run past $7,000. It went as high as $7,220 in the late hours of Thursday and as of press time, is changing hands for $7,050.
As always, almost all the major altcoins rallied behind the BTC and many were able to score double-digit gains.
Meanwhile, in other important news from the past 24 hours:
Tether Issues Another $120M USDT
Whale Alert (@whale_alert) reported Tuesday that the Tether Treasury had minted a new stash of 120M USDT. As always, Bitfinex CTO Paolo Ardonio downplayed the likely impact of the printing spree by calling it just an ‘inventory replenish.’
However, skeptics are not convinced by this explanation. They are worried that Tether Treasury is just exploiting the current chaotic market conditions to issue a record amount of USDT. Worse even, they are worried that not all of the new USDT in the system is even backed by real…