Here's the simple premise.
No technical analysis. No RSI, No MACD, No SMA's, No Volume Profiles, none of it.
Two banks hold the majority of tether reserves (in USD). They are two banks in the Bahamas that have never allowed a 3rd party audit, they have never produced a balance sheet indicating any type of corporate solvency, they tried to keep their executives unknown, they act in secrecy and cannot be trusted.
Banks are going under left-and-right. Legitimate banks. Real banks with real boards of directors, balance sheets, 3rd party audits, all of it. Does anyone actually believe that these two shady banks in the Bahamas are legitimate banks that can handle a global banking meltdown. Not a chance.
USDT is the 3rd largest crypto by market cap, it inflates the entire crypto-sphere (bitcoin especially) massively. WHEN, not IF, but when the bank that backs tether goes under tether will be vaporized to pennies on the dollar (like FTT and LUNA just did) and the entire crypto-ecosystem will melt-down. The few remaining legit exchanges will go bankrupt, funds will be seized, and it'll be a mad-dash for the exit which will leave crypto writhing in pain for years to come.
Is it possible the banks in the Bahamas don't go under? Yes, it's possible. Is it likely, no, it's not. They likely will not survive this global banking meltdown and they will bring all of crypto down with it...
Bitcoin sub-$5,000 soon, then, sub-$1,000 probably.
The Trojan Horse (Bitcoin) has done it's job. It has laid the groundwork for the mass-adoption of the CBDC's. It was all only a scam to implement the technology that will ultimately enslave us all. Trackable, traceable, controllable, central bank digital currency. Not cool.
No technical analysis. No RSI, No MACD, No SMA's, No Volume Profiles, none of it.
Two banks hold the majority of tether reserves (in USD). They are two banks in the Bahamas that have never allowed a 3rd party audit, they have never produced a balance sheet indicating any type of corporate solvency, they tried to keep their executives unknown, they act in secrecy and cannot be trusted.
Banks are going under left-and-right. Legitimate banks. Real banks with real boards of directors, balance sheets, 3rd party audits, all of it. Does anyone actually believe that these two shady banks in the Bahamas are legitimate banks that can handle a global banking meltdown. Not a chance.
USDT is the 3rd largest crypto by market cap, it inflates the entire crypto-sphere (bitcoin especially) massively. WHEN, not IF, but when the bank that backs tether goes under tether will be vaporized to pennies on the dollar (like FTT and LUNA just did) and the entire crypto-ecosystem will melt-down. The few remaining legit exchanges will go bankrupt, funds will be seized, and it'll be a mad-dash for the exit which will leave crypto writhing in pain for years to come.
Is it possible the banks in the Bahamas don't go under? Yes, it's possible. Is it likely, no, it's not. They likely will not survive this global banking meltdown and they will bring all of crypto down with it...
Bitcoin sub-$5,000 soon, then, sub-$1,000 probably.
The Trojan Horse (Bitcoin) has done it's job. It has laid the groundwork for the mass-adoption of the CBDC's. It was all only a scam to implement the technology that will ultimately enslave us all. Trackable, traceable, controllable, central bank digital currency. Not cool.
Comment:
Impossible to know WHEN USDT will be vaporized, the banking meltdown has stalled for now, but it will happen before 2024 POTUS election. A lot can happen between now and then...