Tether scam FUD or when you should short BTC!
Hello friends!
I’m finally back from a vacation. I carefully watched every day news about Bitfinex and Tether and how our favorite Bitcoin grew.
I have already lost count of how many times Bitfinex and Tether have been accused since 2016, when I started trading cryptocurrency.
I will tell you my opinion that nothing will happen to Bitfinex and Tether in the coming year for sure. First, the procurator checks such cases for years. This is a very confusing story. Secondly, Bitfinex does not support US clients and does not have bank accounts there. Secondly, if there are arrests in Tether company, you will not hide anywhere, because the main exchanges use Tether (Binance, Okex, Huobi, Bittrex, etc.).
In case of the closure of Tether, the real capitulation begins, and we can easily see Bitcoin for $ 1000. Who needs it? Crypto exchanges who earn billions of dollars each year? Or maybe mining equipment manufacturers who also earn billions?
Summarize, I want to say that closing Tether will not be allowed to happen, this is a very expensive mistake for all companies. Changpeng Zhao (CEO Binance) said in a recent interview that Tether is clean and if there were violations, he would not have risked his reputation and the largest crypto exchange in the world.
I propose to proceed to the analysis. I think everyone certainly sees the strongest bear divergence on BTC chart. But I want to draw attention to the comparison of the rate of Bitcoin and Tether/US Dollar. In November, with the news about Teaser, we fell down a lot, now the situation is completely different. Because people trying to escape from Tether and buy more (in their opinion) safe currency in the form of Bitcoin and transfer them to another exchange.
Now the most important thing is to look after USDT / USD chart, as soon as the rate levels down again 0.97, at this moment we need to sell BTC or short it. The next when USDT is going up, it will mean that all of these purchases of Bitcoin again begin to switch back to USDT.
I can honestly admit that I have already taken a short $6100 (Bitfinex). I have placed orders from $6100 to $6450. The average will be $6300, and my stop is at $6700.
The next TA will be about the bull season of the Altcoins, which ones and when to buy.
Good luck guys, do not panic and think without emotions!
I’m finally back from a vacation. I carefully watched every day news about Bitfinex and Tether and how our favorite Bitcoin grew.
I have already lost count of how many times Bitfinex and Tether have been accused since 2016, when I started trading cryptocurrency.
I will tell you my opinion that nothing will happen to Bitfinex and Tether in the coming year for sure. First, the procurator checks such cases for years. This is a very confusing story. Secondly, Bitfinex does not support US clients and does not have bank accounts there. Secondly, if there are arrests in Tether company, you will not hide anywhere, because the main exchanges use Tether (Binance, Okex, Huobi, Bittrex, etc.).
In case of the closure of Tether, the real capitulation begins, and we can easily see Bitcoin for $ 1000. Who needs it? Crypto exchanges who earn billions of dollars each year? Or maybe mining equipment manufacturers who also earn billions?
Summarize, I want to say that closing Tether will not be allowed to happen, this is a very expensive mistake for all companies. Changpeng Zhao (CEO Binance) said in a recent interview that Tether is clean and if there were violations, he would not have risked his reputation and the largest crypto exchange in the world.
I propose to proceed to the analysis. I think everyone certainly sees the strongest bear divergence on BTC chart. But I want to draw attention to the comparison of the rate of Bitcoin and Tether/US Dollar. In November, with the news about Teaser, we fell down a lot, now the situation is completely different. Because people trying to escape from Tether and buy more (in their opinion) safe currency in the form of Bitcoin and transfer them to another exchange.
Now the most important thing is to look after USDT / USD chart, as soon as the rate levels down again 0.97, at this moment we need to sell BTC or short it. The next when USDT is going up, it will mean that all of these purchases of Bitcoin again begin to switch back to USDT.
I can honestly admit that I have already taken a short $6100 (Bitfinex). I have placed orders from $6100 to $6450. The average will be $6300, and my stop is at $6700.
The next TA will be about the bull season of the Altcoins, which ones and when to buy.
Good luck guys, do not panic and think without emotions!
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