Some interesting developments on Tether. Tether is such a dumb subject. So many conspiracy theories and everyone is an expert. Literally no one here knows what is going on behind the scenes. Nefarious or not, there does seem to be some relationship between BTC price and the USDTUSD ratio. However there is not too much history to go on and examining history is statistical anyway. So this is just for interest purposes.
Firstly high volatility periods in BTC seem to correspond with high volatility in USDTUSD (no surprise there).
Second BTC consolidation zones (red squares) seem to match zones where the USDTUSD ratio is significantly greater than 1 (i.e. USDT > USD).
Lastly bottoms/pumps (green circles) seem to match zones where the USDTUSD ratio is significantly less than 1 (i.e. USDT < USD).
USDT is down now about 3% under the dollar. Significant, but it has been lower than 10% on a couple of occasions in 2017, during the BTC bull run.
Firstly high volatility periods in BTC seem to correspond with high volatility in USDTUSD (no surprise there).
Second BTC consolidation zones (red squares) seem to match zones where the USDTUSD ratio is significantly greater than 1 (i.e. USDT > USD).
Lastly bottoms/pumps (green circles) seem to match zones where the USDTUSD ratio is significantly less than 1 (i.e. USDT < USD).
USDT is down now about 3% under the dollar. Significant, but it has been lower than 10% on a couple of occasions in 2017, during the BTC bull run.
Comment:
Inverse price action between tether and True USD on Bittrex
