I noticed a 30 dollar spread appearing the last 3 weeks, and already was lurking at this and something seemed off. Then increased to 100 USD last 1 week, and now going ballistic, spread is up to 500 USD, this could be the end of tether.
Get the popcorn and follow, should sky-rocket in terms of BTC - Its hard to know how big this could be, since the market cap cannot be trusted. But if it pops, Its probably way bigger than bitconnect.
Of course this is sending wrong signals to the market and peoples (unsophisticated) bots to buy BTC so we are getting a pop from it, but that shouldn’t last once the market realizes Its not BTC going up, but USDT collapsing.
Thank you kindly for this. One of the necessary events to get the market heathy again probably…
yeah after looking at the following results it looks more like a deliberate pump/stop loss hunt - it has been my theory this is how they fund tether - making money from the market making and fee aspect. So this could potentially not be caused by external market scheme, but internally. If that is the case then it isn’t time yet.
We are 5% from correcting the total amount, if things just broke we shouldn’t be able to correct it, the next months will tell.
Coinmarket is misrepresenting everything since all the smaller pairs are being manipulated to keep up the market cap as Its aggregating from every pair. The main one to follow is the BTC to Tether spread, disregard everything else.
If anyone knows of places where they use levered tether pairs please put them in the thread - does bitfinex use tether as their main trading pair?
Incase you didn’t know - Bittrex has both USD and USDT - if that’s interesting to you.