tethers are used by exchanges to create fake demand for crypto, along with each exchange tokens. It really costs nothing to BitFinex to print as many USDT as they want. any market is balance between buyer and sellers. Remove 70% of “buyers” (stable coins), what do you think will happen with the underlying asset price???
I ain't a fan of Elliott Wave, but I do concur that another selling cycle has started (actually, it's started for awhile now, no?). However, down to 15,000 by July/August? Hmm. I say BTC will go down to 23,000 by next month (ie. May) and then go up to 50,000 by September (if not earlier).
Wasn't the OP talking about PA based on what he sees on the chart? What's that got to do with Tether?
Fine, so why aren't you taking advantage of your "insider tip"? That is, why aren't you buying BTC while Tether is artificially pumping it up instead of just complaining nonstop? As a chartist, you shouldn't care what the fundamental is as long as you can make money on the way up AND on the way down.
exactly why I bought Ether and few shit coins. Since Tether has not been busted so far, why not join the party. Best trade was 40x on LUNC another decent on LABS
Experience has shown that the reality is often worse than the FUD. Did anyone expect FTX to have simply stolen and gambled away billions of dollars in customer funds?