BRING OUT THE TETHER FUD.
Tether lost its parity of 1 tether = 1usd, at the moment of writing it is around 92 cents. The reason is that Bitfinex is having issues with banking what halted all fiat transactions from and to Bitfinex. The affected exchanges are all Tether exchanges, notably Binance and Okex.
Everybody is scared right now in the crypto space, questioning if Bitfinex is solvent etc. There is a good reason to be scared because there is a real difference between exchanges and people are confused and scared and want to secure their funds in case something happens.
People are selling their Tether to buy Bitcoin 8.68% what causes a premium, but it isn't real buying interest.
For that reason I think this pump won't sustain and the banking issues will get resolved as wel the parity will go back to 1:1 ratio.
After that we will dump back to parity and dump a bit more because of people that got faked out. I see it drop to 5500-5700, break the yearly low, around November where I will go long and anticipate on the seasonal crypto pump around December.
I know in my previous analysis i was looking for 4800, but after rethinking and looking at the charts as well as the sentiment and news, I assume we won't get there before we go up first.
Tether lost its parity of 1 tether = 1usd, at the moment of writing it is around 92 cents. The reason is that Bitfinex is having issues with banking what halted all fiat transactions from and to Bitfinex. The affected exchanges are all Tether exchanges, notably Binance and Okex.
Everybody is scared right now in the crypto space, questioning if Bitfinex is solvent etc. There is a good reason to be scared because there is a real difference between exchanges and people are confused and scared and want to secure their funds in case something happens.
People are selling their Tether to buy Bitcoin 8.68% what causes a premium, but it isn't real buying interest.
For that reason I think this pump won't sustain and the banking issues will get resolved as wel the parity will go back to 1:1 ratio.
After that we will dump back to parity and dump a bit more because of people that got faked out. I see it drop to 5500-5700, break the yearly low, around November where I will go long and anticipate on the seasonal crypto pump around December.
I know in my previous analysis i was looking for 4800, but after rethinking and looking at the charts as well as the sentiment and news, I assume we won't get there before we go up first.
