Hold on, there is a point I am going to make later on, but first let's celebrate!!! This week is the 5 year anniversary of the previous ATH. Actually, it is on the 16th, but I like an early party, plus I didn't want to post a negative return title, what would be with that High being at 19.4K. But on Dec 7th, 2017 Bitcon was at 16.9K, just like today. That is cause for celebration! So 5 years, has it been already? Sure it went down to 3K, but it also went up to 67K. So what is my point? The point is that since it happened once, it could happen again. Not a new ATH (I think we are done with that) but crypto going sideways for extended and long periods of time. So if you are just blindly holding it for the Moon, good luck with that. But if you are actually a trader, trade it, you don't have to believe in it. And trade it from the short side too, this fucker is going down more often than not, now that the final world wide hype is over. The kwonzi spread has been done. And if it gets a rally and goes up to let's say 40K, get the hell out don't hold it for too long until it finally drops back. "Trade it, don't believe in it." --- King Tut
I said it many times, we have no idea what BTC real price is. We have fake money aka Tethers running the show. Remove fake money, then let’s see what the real price is. It may surprise true believers
If Tether fails, the price of bitcoin may go up to $100K overnight Everyone in the world will dump their Tether into bitcoin and other cryptos You think they will dump bitcoins for fiat because Tether failed? Why they don't dump bitcoins for fiat now is because because they use Tether as a banking system stable fiat, equivalent to a money-market account when you sell your Amazon or Apple shares Remove the capability to sell for Tether and many bitcoin owners in the world will be unable to sell bitcoins for fiat as they are unbanked in places like Lebanon, Dubai, South Korea, Turkey, Argentina, etc Everyone will be forced to be hodlers of bitcoins and crypto assets Everyone will be forced to be buyers of bitcoins and crypto assets as they dump Tether and other stablecoins (no stablecoin will be trusted) for bitcoins and crypto assets $120 Billion worth of stablecoins in a huge rush to buy bitcoins and cryptos Did I say $100K overnight? Maybe $500K/btc within 24 hours
You forgot that the value of USDT to USD will plummet if tether breaks down. Even if they did rush into BTC then they won't buy much, All the BTCUSDT will implode also. When most of BTC is backed by USDT ... Obviously the price will shrink and by a lot.