Marc De Mesel: The Bear Dance - USDT On Brink Of Collapse

  • Wednesday, 01 May 2019 07:05
Now that government agents likely again stole assets in crypto industry, this time from Tether $USDT company, solvency uncertainty is rising, and investors want to get out pumping BTC price on those exchanges relying on it. This scenario is very similar to Mtgox uncertainty early 2014 when it's assets were also stolen and uncertainty was rising, pumping BTC price on that leading exchange as people wanted to get out by buying Bitcoin as they could not withdraw fiat anymore. However after couple of months Mtgox finally shut down, many people losing their fiat and crypto, after which we went down big forming the bottom of 2014 Bear only months after this event. With today BTC at $5630 on Bitfinex, we have 6% higher price on USDT Exchange than on USD Exchange (eg $5315 on Bitstamp & Coinbase), likely because people wanting to get out of USDT. It could go up to 20% like Mtgox at the time when suddenly all trading is seized and assets frozen. Make sure to get out USDT exchanges before then so that you have fiat to buy the bottom that will likely occur during panic times around middle 2019, when many things come together (mtgox finally returning part of btc/bch to old investors sitting on major profits still, slow summer, timing typically bear duration after top of half time bull market 3y/2 = 1.5y).

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