Bitcoin Forum

Tether Crashes, Bitcoin Rises

Tether has fallen to its lowest level ever since it was invented in 2015, reaching $0.85 to…

Read more: https://www.trackcoinmarket.com/en/crypto-news/33559/tether-crashes-bitcoin-rises

The publication that trading pairs with USDT will probably be a fake tomorrow from the Binance exchange.

Also affected by the news: the exchange KuCoin will suspend the input and output of Tether tokens to "purse maintenance"

and an article from Bloomberg about the possible insolvency of Bitfinex and doubts about the reliability of USDT tokens, of which more than 3 billion were issued, but Bitfinex posted 3 references to cold wallets where Bitcoins, Ethereum and EOS are stored, so the rumors not confirmed.

This morning I heard a bad news about USDT. That is a bad thing. Perhaps that is why TUSD is being used by more people. I think this is TUSD's strategy to make them lose the heavyweight opponent. It seems that the Crypto market is getting more and more war and it is interesting. ;D

How the USDT issuer guarantees such a distribution mechanism is not yet clear!
Behind the recent surge in bitcoin, all of them were driven by the indiscriminate use of USDT. When the news came out, the USDT was pushed to the forefront.

hmm you say bitcoin rises ? we made in last 24 hours about 0.4 % not really rises XD
But yes its sad to see a table coin falling down to 0.85$ insted of 1 $


regards

Yes! Bitcoin really pumped because all of tether where transferred to buy Bitcoin. Hope that it will be only Bitcoin and USD will be playing inside the market now.

A stable coin that it is not stable versus US dollar. How ironically is it.
Although checking coinmarketcap it shows TUSD is rising. Platforms need a trusted stable coins not shady ones :-\

Someone really wants to break the Tether - USD binding by panicking on the market.

I never know if thether can hit under 1$.
Does it means the dollar is on bearish also in real fiat ?

I still believe we are in a bear market and the people who are ruling us in the markets are manipulating us and using fake news to make their moves and make us smaller speculators lose. If you see Bitcoin rose, then alts fell and now Bitcoin is falling and alts will fall more, so the people who sold Bitcoin and alts at the top again were the ones who benefited from this fake rally. All the other speculators and holders of altcoins and Bitcoin are now at a loss again and are sitting worse off than yesterday. When Bitcoins and altcoins plummet more, the bears will take the reigns again and take away every bullish sentiment there is for the next six months or more to continue their accumulation.

These are not changes due to market demand, just a short-term crisis, will not change the market!

So called "stable coins" are nothing of the sort if there is not enough backing to redeem ALL OF THE COINS IN CIRCULATION, if need be.

Nobody knows how much USD is behind USDT, but if it's trading below $1 then chances are somebody has found proof that they don't have a 1-1 ratio.

A real stable coin could redeem all of its outstanding tokens if it had to. 

Tether has been on the verge of crashing for months.  Anytime they have any issues they just print more tether

USDT needs a proper audit. It needed it for months, especially after that article which suggested that it's not 100% backed. I'm not a fan of regulators but when there's a suspicion that you could be printing money some agency should step in and check it out. I don't agree that this is a short-term crisis. You can't know that unless you are a Bitfinex insider.

Rather have tether(USDT) than the USD as everyone thought would be crashing this Black Monday. ;)

There will be no audit.  Ever.  The money is LONG gone.  Are you people really this fucking stupid?

Fake bull run ,its another pumpy dumpy
USDT big rumors that Binance will delist Tether.This is the reason...

This is a step in a right direction. I hope that the market continues in the same way and bitcoin keeps rising. However,  the people who had invested in Tether will be in loss because of this.

There are other coins whose depreciation can help in improving the condition of bitcoin like ethereum.

I don't undrestand the relation  ???

This mean that Theter is finish?

The fall in USDT and the rise in Bitcoin prices were very sharp, but now everything is getting back to normal. Even if negative information was disseminated about the USDT, it is vseravno for this stable coin to fall in the course of up to 0.85 dollars, this is something new. Most likely, because of such news, those who had USDT immediately began selling it and buying Bitcoin, and Bitcoin rose sharply in price. We have not seen such a spike in the price of bitcoin, even such a temporary one. Most likely, this is a manifestation of competition.

One day crash of Tether should not be considered as its end, I hope it will be back to its original value .
Bitcoin is in a range for last many days, it should break now either upside or downside but chances of its downside are very low, people are waiting for its breakout on upside but that all is just a perception, lets c what happens.

It is short term, what I think just rise in demand, and most probably will fall back in its position after market stability.

Do crypto community has strong analog to USDT?
I know Alchemint (neo token) and Poloniex USDC coin, but they are not so popular as USDT...

The money is gone, USDt was fake and Bitfinex is insolvent. Is that what you're trying to say? This panic is much too small if you ask me. If somebody had inside knowledge that  USDt isn't backed at all there would be incredible money at stake. Someone could trade that information for millions of dollars and someone else make millions by trading with that information in mind. How would they keep it from the public for so long? There would be whistleblowers everywhere or a giant insider trading dump. Not a small one like we was today with half of it being squeezed shorts.

I think that people are overreacting and thinking they're smart enough to put 1 and 1 together (bitfinex banking problems and USDt rumors). In reality they're too emotional and heavily influenced by months of bearish sentiment.

Is TUSD more transparent and do we know how exactly do they peg the coin?
USDT is just a time bomb. When it hits it will hit hard and I sincerely hope it hits asap, so the impact is smaller. Binance blow would also be on the long run something very good for the space...

There's a slight fall there actually for the past few hours, but we're now heading back to a much better price in the marketplace right now. So for those who grabbed the cheaper price lately, good for them because eventually the market will be gaining a good standing with respect to demand and supply.

it is a normal phenomenon when a particular cryptocurrency looses its value or has challenges with its project, the investors will pull out in search for another reliable project. the tether has in recent times had serious reasons to give investors questions to ask and they don't want  to have excuses when it comes to heir investments so they tend to move their assets to bitcoin which happens to be more stable.

The price of Tether's stablecoin (the USDT token) has fallen to its biggest drop in the last 18 months.

The stablecoin to US dollar exchange rate fell to $ 0.925284 on Monday, the lowest level since April 2017, and was last traded at 2% less, in the last 24 hours, according to the Coinmarketcap tool.

The fall in the USDT price has boosted the price of Bitcoin (BTC) in exchange Bitfinex. The market leader cryptocurrency was quoted at $ 7,788 in exchange. Rumors indicate that the Hong Kong-based exchange operates Tether LLC, which developed the USDT token.

Some reports blame the fall in the price of the USDT token due to lack of transparency about the company's true holdings in USD (dollar). Some believe that while there are many factors that affect Bitcoin's price movements, bulls are often correlated with new USDT issues. USDT acquisitions are scheduled to track the falls of Bitcoin, so it can be used to support Bitcoin's prices.

Now Bitcoin has a chance to rise again. Tether is trustless for me. But I admit that is usefull at the same time for crypto market. I don't trust but some time we need it. I hope it still usefull and pump all the market again.

The falling or rising in price of tether have no relationship with the rising of bitcoin price. If tether goes down by some few percent  does not means it has crashed.

Until Bitcoin hits 3k, we cannot see Bitcoin to surpass 10k or higher again. Dont be deceived by CNBC shills. Bitcoin needs to accelerate very hard before the huge bull run.

Hello,

Thether is always tricky to evaluate, always fuds and counter fuds. Different audits made just ensure during a certain time then doubts come again. Of course in case of big troubles and bad news people want to secure and go in the most trust one for them generally BTC.

Finally the investors realize that Tether is not worth to hold because it gas no real dollar that backing up their coin supply. Tether is one of the reason why Bitcoin value suddenly collapse. I hope that the US investigation on Tether would be finish so Bitcoin will continue to rise again.

USDT, TUSD, USDC and I believe that there will be more copies of this "stable" coin. For me its absurd that exchanges don't have their version of tether.
I mean Kucoin should have KUSD, bittrex BUSD etc... They would have more profit from their own currency when people start panicking or fomoing and converting it to some form of USD or back. And they should throw away tether totally! I was always concerned about tether cos they are constantly putting more and more coins on the market.

I do not feel any danger or threat to the crypto market as Bitcoin increases and USDT drops. Because USDT go down which it is too small and only occurs in a short period of time it is enough to recover as soon as Bitcoin volume is traded and sold out.

It seems to me that Bitcoin and USDT are completely different things. The fact that the price of Bitcoin fluctuates: it falls, then decreases and this is normal, because the cryptocurrency has never been stable. But USDT is the equivalent of a dollar in a cryptocurrency and its deviation from the norm should not exceed even a percentage.

Maybe it's just the FUD that caused prices to fall very much and I also heard that tethering is a fraud so many traders who sell it are what makes the Tether's price fall so deeply but now the price has begun to rise again many people are aware that it's just a FUD to drop prices Tether, that's my opinion because I haven't analyzed where USD is right in crypto.

I think that later Tether can be a scam, but now this situation looks like a market manipulation, as well as an opportunity to make money even at the very jump in Tether prices.

Indeed, Tether already used as a scam when its price dropped to less than 0.9 USD but the best part is to see bitfinex making USDT/USD 0.5 : 1 or less :-\

This is what happens when people invest in unregulated securities.

It's predictable. When nobody is watching the store, it gets robbed.

Regulation is the answer to most of the problems plaguing the crypto market.

The SEC has a program that places a couple of layers of regulation.

Check this: https://www.startengine.com/monetran-llc  (https://www.startengine.com/monetran-llc)

This is the wave of the future. Soon investors will not sink money into unregulated companies.

It's ironicall that a coin that is supposed to be pegged to Dollar has gone down by 20% and now is around 0,93$... Everyone shoud stop invest in it and sell it it's clear that is a fake and it's not stable as someone said in the past..

I have no doubt that this is an element of manipulation. Someone earned very good money on this. Now there are a lot of stable coins on the market and a war begins between them. Unfortunately, this is very bad for us, as players of this system, but this is the crypto market ...

All is just the fake information on social media channels. It made investors who were holding USDT sell off and creat the unexpected price increasement and overcome the strong resistance line of Bitcoin in a short time

Maybe so.

But Tether provides fuel for that by not divulging its assets that supposedly back their token.

Any company that claims to have a stablecoin should be held to account by insisting they post the assets that back their currency and submit to regular audits.

Anyone who "invested" in USDT is getting what they deserve for trusting an unregulated company.

Well it is a good news for bitcoin users. Tether users are transferring to bitcoin and bitcoin is seeing a surge after the fall.

It is speculated that bitfinex has some on going issues with tether. And this isn't a first, tether has a fall previously lasting a month long.

People who used Tether have transferred to Bitcoin. On the other hand good news for the bitcoin users, after a long time they are seeing a surge in the market. It will be interesting to see how long it continues.

If you think that it's been driven below it's true value by manipulation, then you should put your life savings on it right now while it's artificially low. According to that thinking, it is a sure thing to go back to $1 where it belongs.

I doubt you, or anyone else, has that much faith in the integrity of Tether. 

It's U-N-R-E-G-U-L-A-T-E-D

Unfortunately, more and more news that Tether scam, multi-level and extremely tricky scam. Other stable Coins appeared at the right time, and I hope they will be reliable.

Investors realize that Tether has no dollar to back up. Even the US government are investigating Tether in this matter. Investors are already been warned before but they didn't listen and blindly use it because of greed.

It has recovered to $0.98 per token now (as per the data from coinmarketcap). But I guess a number of users might have panicked and converted their USDT tokens to either Bitcoin or Ethereum.

Well played by those whales who shaken the market, as many investors and traders already react and panic when the downfall happens, such a great way to accumulate money from the market, after bitcoin there's a lots of things inside whales minds to make more money out of this market, who knows what next assets to be targeted and create some great movements, we need to stay being alert and act rightfully.

The fud and the dip in tether gives a big hype to btc as many quickly convert back their tether to btc and that gives the btc a surge and tether a kind of dip that it has never witness before.

these FUD is so damn great , making bitcoin rise to the point of 7000 $ + but now it's back to stable. but I'm very lucky to be able to make a profit because Tether FUD.

but in my opinion, I'm still amazed by Theter, because Theter still has a good price, and it seems as if Theter ignores other altcoins that fall to no value.

No one really needs to break them, tether is not transparent in any way . They claim they hold dollars for the amount in circulation but I have not seen any audit documents from the team and last year they created a huge amount of coins in the market which coincided with the rise in bitcoin price to an all time high and still people trust the coin which is really weired as it can tumble anytime if the truth comes out .

But many on the cryptocurrency exchanges held capital in USDT. Having traded the market situation, they transferred money, considering usdt stably linked to the dollar. That's how losing money.

cause people still believe that USDT is traded in various exchanges and indeed the value is not the same as the Dollar which should have in common according to people,I also salute yes cause it shows other ALT who have clear values well above and below their normal.

trust makes it worthwhile, because it can still survive amid the entry of several new tokens / coins created. but I think for big capital Tether many people will still believe it and keep it afloat so tether crashes maybe no.

I don't think that there is manipulation happening because Tether is not a good place to invest, for me, it just only a matter of crypto saver to make your investment intact while Bitcoin and altcoins are not in the good mood.

Everyone who was in tether was rushing to convert it to other tether convertible tokens that's why the surge in price of Btc. Not that price is relatively impacted.

Tether is now recovering from the deficit, it is difficult to believe crashing, though it might be in the situation that it will slip a little but I know it is truly back up by USD that is why it can regain right away while Bitcoin is not totally rising it just maintaining the stableness of the value.

if you buy bitcoin with Tether price of it is NOT going to go up!

price of bitcoin is determined based on USD not USDT. if you buy it with Tether only BTC/Tether will change and to keep it the same as BTC/USD the arbitrage traders will balance it out. in this case Tether price was falling which meant BTC/Tether went up but BTC/USD stayed exactly the same.

So what was the reason for Tether to fall down? Now they are laying with people who hold in cash and wait for better times to invest in crypto?

personal idea
I don't think there is any cryptocurrency in the current market that can be compared with Bitcoin. All the altcoins can collapse, but Bitcoin can't!

Tether is popular, but always faces problems, then scammers then have power. I think the fall of this token for a while, as it is stable at the rate with the dollar. And now it’s not worth talking about Bitcoin at all, except for stability at the level of 6.5k.

This situation is created artificially for the purpose of market manipulation. The main thing is to keep cool and just wait.

Yes, old news and nothing really didn't happen. I wonder how much was lost with panic sell and gained through calculated buy

It's sad to hear but what can we do? It's the phase many coins are going through now, we need to wait for the situation to improve.

Not a good news for a supposed stable coin, although I personally have never been a fan of Tether. I have always have my reservation about the currency, I just only seldom use it for a short trading, for now, am going to try to avoid it.

I don't know when you saw Tether at $0.85. It was like $0.96 or so at the lowest of this year. The previous one was $0.92 or so. I think it's a manipulation by Tether itself for dumping some BTC. That's what the big whales do.

The tether will be back to the price before, and bitcoin will rise again. I don't think that tether will get down too deep and even if this is happening, I am sure tether will reach the high price. It will happen too with bitcoin, and I don't think that bitcoin will stay at a price now, it will increase. Don't worry if you see tether or bitcoin is down because that coin will reach the high price again.

I have never believed that tether was a stable coin as they claimed, so many people bought the idea that the coin was a stable coin but now look at what is happening. It is better for you to invest in a coin that you can be sure that you will make money from instead of putting it in a coin you think will always be the same price and then it ends up going down.

Yes, it is true
the most severe between developers claim similarities for USD, silly isn't it.
there is no altcoin that stands alone especially in its stability.
bitcoin is a factor that makes the altcoin rise and fall along with the progress made by the developer. now is a fact that happened

I am very glad, that Tether influence is decreasing (slowly though). There are much new stable coins which are indeed much more stable and transparent. The market is slowly leaning towards them.
It's also good to have many options open.

From the very beginning I did not support the tether, because it immediately seemed to me that the coin was created for manipulation!

Yes over time, I have always known this as something that would happen eventually and like I always say, it is either tether itself implodes, or we get to see some legal action on the tether team and if care is not taken, that may be the end of tether. This is one of the reasons why a lot of investors hedging their funds have lost faith and now looking for better alternatives.

Alternatives are coming up daily with most exchanges even beginning to deal with fiat directly, and in that case, I would say the thing here is that, tether even though it has been used over the years, have failed to keep up with that part, where transparency should be a thing.

What? Tether still costs 1USD.
But it is strange that still Tether exists. I would never store my money in Tether.

Yes, exactly. But I am glad that the end of Tether will be done smoothly. Imagine Tether implosion now overnight... Market wouldn't recover for a long time.

In the long run, we are all much better without Tether. And nothing is too big to fail in crypto (yet).

That is the thing with people, they do not tend to do some pretty good diligence and they just take in whatever they are told most of the time. Tether was actually meant to be a stable coin pegged to the dollar, which is meant to make 1USDT equivalent to 1USD, however, over the years, there has been some issues revolving around the stable coin tether as well as the team with the idea that tether is just being printed out of the blue to get the market pumped. That is something that the team has never come out with proof to deny and have refused auditing which is something that should be very important for transparency anyway.

Its really most waited moment for the company and management of bitcoin to rise once again since many people still believe in their services and hope to recieved income also.