DCFreak

Bitcoin - CAUTION - URGENT

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
So some people have been speculating that Tether or Bitfinex have been printing money out of thin air which pushed the price of bitcoin             from 600$ to 20k$.
Bitfinex indeed is printing 100 million every couple of days, even during the fall of bitcoin             by almost 50%, which is unexplainable.
Source : https://twitter.com/tetherprinter?lang=en

Well Tether responded to these concerns by hiring a company to check their history and audit everything in May of 2017.

Today news came out that Tether dissolved their relation or stopped working with the auditor for whatever reasons that are not published yet.
This is a really bad sign. After this news came out people in Gdax started selling bitcoin             to stay in USD incase of crypto market crash

People in Bitfinex and other USDT based exchanges bought Bitcoin             with their USDT in case USDT crashes (so the concern is that 1 USDT might not be equal to 1 USD)
So they are trying to buy coins, then send these coins to exchanges that support USD which ofc             pushes the price up.

So people in Gdax are selling - price of BTC             went down

People in Bitfinex are using their USDT to buy - price of BTC             went up

Thats why there is almost a difference of 500$ between Gdax (USD) and other USDT exchanges.


USDT - USD actually fell down hard then partially recovered as can be seen in the following chart


Personally, I moved all of my funds to Gdax and then to USD in case of a market crash.

Be careful!

*Not telling you to sell, not telling you to buy, not saying that the market will crash, not saying that we are bullish . Just presenting to you the current situation.

Link to the news:

https://cointelegraph.com/news/somethings-fishy-tether-auditor-dissolve-relationship-according-to-rumors

https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/

~DCFreak
Comment: If you found the information helpful, like the post so others can see it.
Comment: The premium from bitfinex is now gone, Gdax's price is the same.
Comment: Posted it a while ago..

@DCFreak I thought I would drop you a quick note to say thanks. I had noticed some fragility in the market and was a bit edgy about the general situation, but didn't have the chops to be able to quantify it properly. After going through your post when you made it, it was the one thing that made me pull out of the market in full 2 days ago. You were able to clarify what was a general sense of unease in the market, and thus helped me make the decision to pull the plug. Hat tip to you Sir. Alot of work and experience goes into technical analysis and reading the general market sentiment, often that work is paid for with loss - the "education fees" can be rather expensive in this arena... I have benefited from your work, as I am sure have many others, and am grateful for the time you spend. Good work. Now, lets wait a bit and make some money. ;-)
+1 Reply
Great tip and thanks again. Here's a quick TA I did on Bitcoin / Tether. As expected, looking abhorrent with head and shoulders popping up everywhere and dropping below the expected support level of the large H & S.

snapshot
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j0nesy1977.mj j0nesy1977.mj
@j0nesy1977.mj, had support at around 8900 but was clearly going to break that and fall further. It barely even flinched at the support line.
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Hello @DCFreak what do you see now?
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DCFreak PRO Slim_Shady
@Slim_Shady, still like the first idea posted. About 7500$. Could take a while though
+1 Reply
"Charlie Shrem considered those selling off Bitcoin to be “truly stupid,” as Tether holdings presented the risk and cryptocurrency presented a “way out” of any financial losses".
+1 Reply
@insyyte, which is why I choose LTC and USD.

I don't trust USDT, can go to the dirt any moment. Just one 1 article and it can crash.
+1 Reply
estankus DCFreak
@DCFreak, what is your opinion to transfer BTC to ETH as we see ETH value agains BTC is still growing?
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Just out: https://cointelegraph.com/news/bitfinex-tether-get-subpoenas-from-us-regulators
+1 Reply
@JN9797, Yeah they said it happened back on Dec 8th thou. No one knows what happened after that.
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