Bitcoin Forum

Just now noticed from Binance, Bitcoin already cross 7K USDT. I think big whale are playing. But on others exchange it's still $6300+. It's play time if you have btc on binance. I don't think this is bull run. Perhaps it's temp run on binance. Still down on others exchange. So be careful if you want to play.

Edit: Apologize to use $ sign. Really it is USDT. How ever it's look also effecting on USD price. Seems USD price also increasing.

bitcoin couldnt break ths trend since january.if we close the day above 6800 it would be super nice.then 7400.we needed this move even its a bit early..but whocares :)

Just another Pump, so that people think that Bull rum has come and start buying. As soon as the target is achieved by these pump group, there will be a dump. Stay away from Binance now and HODL If there is a Bull run all markets will gradually show a price rise.

It is better to wait and watch patiently.

The signs are all obvious that a few whales are manipilating the market, sadly enough this could cause FUD and FOMO..

But to whose advantage will it be at the end...
Theirs of course..
I'm so ignoring this news/info

I'm not sure if this has anything to do with the increase in price, but I've noticed that Tether has taken about a 4% plunge on Bittrex.  Could be money flowing into Bitcoin by people bailing out of Tether.

Its just the usual bitcoin whales doing their pump games. The interesting thing to watch is if others will take advantage with arbitrage trading or if they will move up in price as well

some theory could be the implosion of USDT!
In Kraken at .91$ cent.
Maybe is a Dollar implosion?
too early for that...

Shady for Alts, they started to bleed.
but nothing surrealistic at all.

(Should not be this in the Economic discussion?)

It's an interesting one to watch closely, how come the price is only moving up in binance, but other exchanges are still rocked at 6300+, it's an obvious manipulation to cause uncertainty and fear amongst the community...

In my own opinion I'll advice we all wait for a real pump/bull run as this looks artificial to me and won't end well

the sign you used in your post ($ sign) is called dollar sign and generally it is used for United States dollar. but the number you are reporting is not USD valued. it is Tether value!

in other words 1 bitcoin is worth 7200 Tether which is equal to about 6500 US dollar.

I'm a bit puzzled about this...
Bitfinex is showing 7200 (right now) and those are $ not USDT , are they using USD for their tether?

https://i.imgur.com/6ER1lU3.png

We're going to have another gox?

This pump as some people are claiming to be is due to a FUD associated with Tether. I dont know how far this is correct or legitimate. The USD price like others have said, is still the same. There may be after-shocks of some panic buyers who get FOMOed, and they buy with USD and thus pump the price but thats secondary.

But waking up to a green market is always a good thing and I have no complaints regarding it as long as panic selling does not happen. Meanwhile keep an eye on the altcoins that people are holding because they are going to dump soon in my opinion.

Yeah it affected the USD price and I'm surprised by just watching it refreshing the price tickers every second. We need more confirmation if this is really a sign of bull run if not expect a fall that will be followed quickly later.

Look what I've found.
CMC = $6,800
Preev = $6,400

On Speculations. (https://bitcointalk.org/index.php?board=57.0)

Maybe there have been pioneering information infiltrations in the news about Sec's Bitcoin ETF. I think the possible positive news about the ETF decision process can be pre-priced.

as far as I know, users can't withdraw USD (United States Dollar) on Bitfinex, maybe it's USDT but Bitfinex itself believes that 1 USDT will always be worth 1 USD (United States Dollar)  ;D https://support.bitfinex.com/hc/en-us/articles/213919369-What-are-Tethers-

And what will happen if the USDT is recognized as a fictitious company and everyone starts selling USDT?

Bitcoin and other cryptocurrencies can grow by 100-500% in 1 day, and this can happen

i believe it is because of the old design that they never changed. before Bitfinex started having trouble with their banks last year, they used to have active fiat (USD) markets and small tether on the side. but when the problems began they turned everything into Tether and since they are the creator of Tether too and want to convince the world 1 USDT = 1 USD without implicitly saying it they never changed things in their platform.

this is just an USDT premium - see bitfinex.
https://twitter.com/Bitfinexed/status/1051747042018639873/photo/1
 And it might be that USDT now gets what it deserve. it will crash and disappear.

I've stopped dealing with bitfinex a long time ago so I didn't know that but it's pretty strange....

If they are showing the price as in USD and actually dealing with USDT, is that even legal?
I'm genuinely amazed by this, they have been operating like this for years and they are still not shut down?
It's clear as day that this is deceiving customers, the same thing that the bshit alliance was doing while misleading customers into buying bshit instead of BTC.

All I know is that Tether will one day be crippled to the crypto world market. Somehow it doesn't seem safe.

But there's a risk that Bitfinex will not allow reclamations or withdrawals anymore, maybe temporarily until Bitfinex has another bank, but the risk is always there.

Holding USDT? Buy Bitcoin. 8)

why do people continue calling this a "pump"?

did bitcoin price reach $8000? no it is still worth the same as all previous days at around $6500 so why do you call it a pump?


i don't think so because prices don't rely on Tether. the only thing that it did was to make certain actions in the market easier and it also helped exchanges have a fiat-like market.
if anything happens to Tether, the market will go on like before. but in short term we may only see a lot of FUD that can cause panic sells. nothing more.

I'm surprised to read this news again saw it a while on social media, then in speculation and now here honestly I thought it was a prank as preev prices were much lower. On closer inspection it seems they're deceiving users by using the usd sign when it's in fact USDT, this is malpractice and I hope people do not fall for this. They're using tether value wherein one bitcoins is 7300 tether and hence the valuation difference, I don't think this is legal, I believe they'll be reported.

You might be right. this does not mean that the bull run has started. so be careful do not be easily provoked to make a large
purchase. keep calm, when there are signs of that price going back up you can use it. but remain careful this condition like suddenly rise is prone to manipulation

Let the cue ball remain relatively large in volume, it can always claim to its fair 30-35% who argues. The balance of the market, in June 2017, was perfect - the cue ball was 37%, strong competitors in the face of Riples and Ether, all in good shape.

In principle, I am always more concerned with the prospects for a multiple growth of an asset than its current volume of capitalization. The main thing here is not to go to extremes and not to collect alluvial Shitkinoi placers with a penny capitalization that may simply disappear tomorrow.

yes you are right in binance exchange it cross 7,000 USDT I'm so surprised, try to check in coinmarketcap looks like bitcoin is trying to reach $7,000.

The moment im typing this post,bitcoin sitting on $6,600 a growth of $400 just today,and if this will continue for sure its not impossible to reach $7000 or even higher if does,though i dont think we have already reached the bottom so the bull might take place since bear stays on us for almost a year now,and talking about binance,i never had tried to buy some coins there but looking forward to try in future

This shows that the value of bitcoin is not gonna go down under $5000 lower right now.. It has a good resistance in the price right now.. It's a good sign already.

Exchanges often have different prices and you can sometimes take advantage of the arbitrage opportunities.  You have to be quick though because the prices will even out very fast.  I've been reading a lot of articles about tether and how it may collapse since it doesn't have enough USD to back up the printed tether.  This could be a case of people panic exchanging their tether for bitcoin so they don't get left with worthless bags.

This news already shaked the crypto world and popping out in every crypto related news websites. Unfortunately, this will be a clear manipulation which might also be a red alert to the government and SEC. Worst case scenario is that they might use this as a reference that will give cryptocurrency a hard time to be properly regulated. For me, they should regulate crypto exchanges first and set a limit to each trader. This could avoid or minimize price manipulation in Bitcoin and cryptocurrency.

well, I guess the opportunity has disappeared now. well, the price increase that happened really made many holders panic. arbitage is a thing that is done a lot. I believe the potential of bitcoin will be higher compared to now.

That is nice and hope the pump flow to other exchanges. I think bitcoin is going to resume it end of the year bullish trend very soon and that is why the whales and big market players are investing. I see that the total market capitalization has also increase today in a very significant level.

There was a lot of tether going to waste by people cashing it out for cheaper than what it should be worth because of a FUD someone created and got around however the truth is bitcoin price was not affected by that but mainly affected by the person who has bought about $15k worth of bitcoin. That was a lot of money to be bought at once and we have seen what happens when someone sells huge amounts of money all at once, same happens to the other direction when someone buys a lot of it as well. Considering all of these combined with people worrying about tether and moving away from it by buying bitcoin with it to get out, it makes sense bitcoin had a "pump".

It is called a "pump" because it is not a real increase in price but a short term spike, that is what pumps are, short term spikes, if the price is not high right now because it wasn't an "increase it price" it was a "pump" which caused the price to go up and go down.

Never believe anything that comes with USDT pump and that is one of the reasons why USDT should be audited as fast as possible. Across board for USD, we are still inside the triangle, and we can see with the crazy ass move with USDT, we are still back inside the triangle.

There is always that something shady every now and then when it comes to USDT and I really do not know how they are still being used up till now and possibly this whole USDT thing could end up being the next big bullshit that would rub the crypto sphere after MtGox.

The bear market has immensely increased the demand for USDT with how it is the only safe haven asset on exchanges like Binance. The majority of the traders value their holdings according to their USD value, and will do everything they can to protect it, which means that USDT is the only option to go with. In other words, the utility of USDT is there, regardless of them being actually backed by fiat or not.

We all have our rightful doubts about USDT. I'm quite certain that Bitfinex used non backed tokens to pay off its post "hack" debt, but we can't prove that it isn't backed, so they will continue to ride people's benefit of the doubt, possibly for many more years to come.

We can only hope that more exchangs will end up becoming fiat entry/exit points like Bitstamp, Kraken, Coinbase, etc. With enough time, USDT dominance will significantly decline.