Discussion in 'Cryptocurrencies' started by m22au, Dec 5, 2017.
omfg! - How do I short the sheets out of it?
Tether now at $1.04 according to Worldcoinindex,
and $1.07 at Coinmarketcap
This is weird.
I think I understand this more now. It can be a proxy for exchange instability. When your exchange keeps going down, you will want to move funds to another place. You can use LTC/BTC/BCH or Tether to do so. A lot of people will prefer tether because its more stable and carry little price risk short-term. Hence they push up the price to make these transfers
Looks like an important low of $0.9806 was reached on November 28, according to https://www.worldcoinindex.com/coin/tether
If Tether breaks below $0.9800 then I'll be watching the Bitcoin price with even more interest - especially if the Bitfinex price moves to a large premium or discount to other exchanges.
Another page to check Tether quotes:
in addition to the Worldcoinindex page:
and the Coinmarketcap page:
It looks like Tether reached a low of 0.9730 according to Yahoo Finance (https://finance.yahoo.com/quote/USDT-USD?p=USDT-USD) and 0.9771 according to Worldcoinindex (https://www.worldcoinindex.com/coin/tether).
Bitcoin at Bitfinex $15,402 versus $15,530 at Bitstamp. So no big discount at Bitfinex so far.
"Tether Confirms Its Relationship With Auditor Has 'Dissolved'"
Jan 27, 2018 at 23:43 UTC
A really good discussion on how Tether going down would effect a brokerage like Kraken:
"U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether"
Big down trend today.
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