Price
For the third day, the price stays in an indecisive pattern, clamped in a narrow range 6680 – 6800. The market obviously waits for some fundamental factors, that could push the price in either direction. In such a situation, the absence of fundamental support and lowering demand could eventually lower the price. Boundaries stay the same, 6600 as a support level and 6800 as resistance. The longer the price stays with the low momentum and below 6800 outlook is bearish.
Today forecast
Today most probable trading diapason: 6600 - 6800. In case of crossing the 6600 - high downward risk.
Latest news
For the third day, the price stays in an indecisive pattern, clamped in a narrow range 6680 – 6800. The market obviously waits for some fundamental factors, that could push the price in either direction. In such a situation, the absence of fundamental support and lowering demand could eventually lower the price. Boundaries stay the same, 6600 as a support level and 6800 as resistance. The longer the price stays with the low momentum and below 6800 outlook is bearish.
Today forecast
Today most probable trading diapason: 6600 - 6800. In case of crossing the 6600 - high downward risk.
Latest news
- Latest news on Bitfinex and Tether
The Block shed a light on Bitfinex and Tether banking situation in its recent post:
“Recently, Bitfinex briefly banked with HSBC through a private account via Global Trading Solutions and subsequently suspended all fiat deposits for nearly a week. Now, according to a source familiar with the matter, Bitfinex appears to be banking with Bank of Communications through a private account of PROSPERITY REVENUE MERCHANDISING LIMITED. The Hong Kong-based bank, which is partially owned by HSBC Holdings, has been using Citibank as the intermediary bank for U.S. dollar wire transfers to Bitfinex.”
So, Bitfinex reportedly has entered into a partnership agreement with Hong Kong Bank of Communications, partly owned by HSBC Holdings, a financial conglomerate. Payments will be made through a private account of Prosperity Revenue Merchandising Limited.
It should be noted that Citibank acts as a correspondent bank when transferring funds from Bank of Communications to the USA. Wells Fargo also performed the same role for Bitfinex partners in Taiwan before it stopped processing iFinex Inc. services. and Tether Ltd. in April 2017.
Nevertheless, it is not known for certain whether HSBC or Citibank is aware of cooperation with Bitfinex.
At the same time, Tether Ltd., The Block refers to private sources, has entered into an agreement with the Bahamian Deltec Bank. Sources also added that operators of some OTC platforms also expressed a desire to open accounts with this bank for direct cooperation with the issuer USDT.
It is noteworthy that for some time Bitfinex banking service was allegedly carried out by the American division of HSBC Bank N.A., and the payments went through accounts of Global Trading Solutions, LLC.
Recall, on October 16, the exchange introduced a new mechanism for making fiat deposits.
Earlier, an abnormal fall in the USDT price to $ 0.92 was recorded. Some analysts have suggested that major players have attempted to withdraw from the asset. However, now the course has returned to the mark of $ 0.97.
Tether Ltd. has reacted on the fall in price and panic in a usual manner, publicly confirming that all tokens are fully secured with one-to-one fiat US dollars.
