So many crypto investors today are deeply worried that the prices of Bitcoin and other crypto currencies may be, indeed, being artificially pumped up by the most world-renowned exchanges (like Binance, Bitfinex, Poloniex and etс) allowing the customers on a large scale to use the controversial Tether coin in trading for Bitcoin.
Today always when people buy Bitcoin for USD they totally rely on the price of Bitcoin in USDT since the most popular price tracking sites (like, CoinMarketCap.com and CoinCap.io) do not distinguish the BTC/USD pair from the BTC/USDT pair. How might it become possible at all???
Just think of what price of Bitcoin in USD would be if people might buy Bitcoin only for USD (or any other coin) but USDT?
$1000? $100? $10?
And this situation (the world without USDT) may happen very soon.
______
I wonder if is everyone just crazy?
So some investors are seeing the current situation with Tether as a good opportunity for Bitcoin.What???
And it is a really a WTF situation.
“The Tether debate does seem to have some people nervous, but not about Bitcoin,” Mati Greenspan, senior market analyst in London at eToro, said. What??? But not about Bitcoin??? It is crazy.
She continues,
“The most likely reaction would be for investors to swap their Tether for Bitcoin.”
Okay, okay. They are already doing this, moving the Bitcoin prices in USDT (and of course, in USD) just up.
What next?
Next there will be the following situation:
in the end people will be holding Bitcoin bought at high prices and there will not be Tether anymore.
Of course, the prices will drop down dramatically.
It is a long-term game.
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from Bitcoin - The Currency of the Internet http://bit.ly/2vtc17o
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