What Does BTC and USDT Mean? (The Relationship between BTC and USDT)
What does BTC and USDT mean? What exactly is BTC and USDT?Bitcoin was mined in A
What does BTC and USDT mean? What exactly is BTC and USDT?
Bitcoin was mined in August 2013 and quickly developed into a stablecoin. It is pegged to the US dollar, but its value has always been low (according to Bitcoinist), causing significant price fluctuations and frequent drastic fluctuations. (Image source: https://www.theblockchain.com/newsflash) Since the beginning of 2014, people have been speculating that if Bitcoin’s market value grows tenfold, it will replace gold and surpass its all-time high. However, the situation has changed now, and the price of Bitcoin has dropped to its historical low at the end of 2017. According to CryptoQuant data, Bitcoin’s price has skyrocketed by over 160% since 2015. The most recent major drop was in the last quarter of 2018, when BTC fell below $6,000. This means that investors may need to buy more cryptocurrencies to obtain these funds. In addition, the total investment from the end of 2017 to the third quarter of 2018 exceeded $100 million, doubling from 2016. Although the price of Bitcoin may rise after 2020, this asset has not yet achieved long-term profitability. Despite the continuous attention to blockchain technology in the market, the future prospects of the digital payment field are still not optimistic.
The Relationship between BTC and USDT
According to Cointelegraph, Bitcoin Cash (BitcoinCash) recently announced a partnership with USDT. This partnership allows BTC holders to trade using the stablecoin USDT without worrying about price fluctuations.
According to CoinTelegraph, the relationship between the two companies changed on June 8th as they believed USDT could add value and security to the BTC network. It is reported that the company has added USDT to its service team and added support for BSV in July 2019, aiming to promote the development and adoption of the digital asset ecosystem.
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