Short squizzzz and a big move out of Thether
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Yeah I agree. Tether is becoming unstable and this pushed the price up. If this continues it will be the end of tether. Markets react quickly as well.
Here is a good place to check tether prices: https://cryptowat.ch/markets/kraken/usdt/usd/1h
What do you guys think will be the result. I could see it going either way.
If money moves from tether back to BTC. BTC should rise and may trigger some FOMO and maybe even to an extend to start an uptrend.
It could also happen that the collapse of tether creates huge FUD and people flee from crypto.
I think most perceive like this:
BTC = Crypto
USDT = USD/fiat
thus, uptrend in BTC value will be seen as crypto is at it again and would eventually create FOMO plus the fact that this will once again give hope or possibly change sentiment to those who entered at ATH
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I think people will short BTC to 5.8k or in worst case 5k, causing tether to stabilize when people panic
I donât partcularly like Tether and would prefer to see it gone. But if it were to crash now that would have an extremely negative impact on BTC price, giving media yet another reason to FUD us.
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That is also my view. But it would probably be better if tether crashes now than later ?
No because right now BTC is struggling to stay on a heavy support line, Tether failing could likely bring BTC down to 5K. I would much rather see Tether fall in a bullish uptrend, that wouldnât nearly have the same weight on BTC performance
I hope stablecoins will all leave the market. Unless they are really proven to be backed by real $, gold ie.
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As you all can see, we bounced off the bottom trend line on the 2HR. Based on the large bull penant formation, this bounce was fairly predictable and also a great entry point for those looking to buy back in.
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In the last 14 days, this is a downward trend
Heavy support from 34EMA on 8 hour chart. Support also enforced by the lower blue line which has tested that level 5 times in total and still holds strong. First breakout still seems to be at the descending triangle around 350. RSI has for the first time gotten to its lowest point since the beginning of the rally.
I would expect a breakout upwards within 3 days unless BTC does something fancy.
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We got a little selloff since volume was decent I think it has to go a little lower at least.
Looking for support around 280sats if we break that Iâd say next support is around 200 sats and then 150sats.
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We are around the 280 level. Now seeing if we can hold and maybe find a bounce with volume which would be a good buying opportunity. These are levels where excitement should kick in. But I understand that most traders have a reverse psychology and that is exactly why there may be more dumping of price. But the people who sell here are probably the ones who bought at the high around 350-400sats.
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Volume tells us that this area is being defended we still lack a spike that will offer a trading opportunity. But gotta watch out for it. Considering future updates (Instant payments live. KYC live) its probably not the worst time to buy.
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I hope we will slowly break trough and go higher up again 
Just saw it on twitter. I believe we may see hitbtc this or next month.
I want to reply to that tweet, âYou are going on 10 months since you said you were listing ETN and are saying it could be 1-2 months more for your highest priority? Are you incompetent or stupid? For the fees you charge you should have the best team in the worldâ
So youâre not going to reply with that?? Cuz if you donât, I will lol
