Bitcoin Forum

The Tether delisting has given Bitcoin a great price jump. Especially positive 2+ extra billion beyond the 28 billion Tether drop/ Bitcoin jump. This is looking good for the predictors of a high Bitcoin price.

As you all may not have known the cause of the Bitcoin fall. It was in adjunction with the Tether manipulation.

But now that’s over with.

-Ryo1946

Link to article.

https://medium.com/@devilman5214/tethers-delist-gives-resurrection-to-suppressed-bitcoin-and-altcoins-c463bd8c2a0c?source=rss------crypto-5

Tether fud has make people invest in bitcoin and leave the USDT. This is the reason we see a mini bull run in bitcoin at the moment. There is no stable currency as Tether has been backed by USD by 74% only which is creating panic amount the USDT holders. Once this fud will be over people will convert back to USDT to book profit from BTC.

transfer of tether to bitcoin? gives way to bitcoin jump.. https://www.coingecko.com/en/coins/bitcoin

Indeed it has. Although I'd have to say there is a possibility that these fudders won't convert to USDT if USDT is delisted from every exchange. The more USDT gets delisted, if it does, the more the fud, thus the more bitcoin being exchanged. Hence an increase in bitcoin price.

-Ryo1946

It's very obvious, as I have said in my previous post, if you have tether in bitfinex, in order to withdraw it, you need to convert it to btc that's why the price is very high in bitfinex. So this could be one reason and of course manipulation by some big players as well.

That will be a chance for bitcoin to jump to the new higher price since USDT has lost their believers.
But there is USD, USDC, and others that still be an option for people to convert their bitcoin to stable coins and although USDT has decreased, we need to take a look on the other stable coins.
But that will not stop bitcoin from increasing higher because I think this moment is a good moment for bitcoin to rises and make the highest price again after it sleeps too long.
But bitcoin price now has got down, and I wish that it is only for correction of the price, and then the price will back to the higher price.

There are other options, you are right but it seems to me that Tether has garnered the most out of crypto traders. It's really good to see though, stable coiners shifting back to bitcoin because for me it's doesn't make sense if they are going to leverage their fund to stable coins.

The price did go down, perhaps speculators booking their profits after this massive run. But this could be healthy and in the short term I'm still expecting the price to go above $8k or more in the next coming months.

Tether manipulation was helping bitcoin a lot and thanks for US prosecutor for this thing and remember this happened after the US prosecutor has already accused finex and tether created a collution.
More ther will be thrown to buy bitcoin and we have a lot of tether still not yet dumped for bitcoin.

this will continue till tether will collapse.

I think it had a bit to do with tether but lets not give all the applause to people who banned tether as the reason. Tether is still out there, not like tether is extinct right now they are still out there and there are still places you can buy bitcoin with tether which could still be sold for real cash and could drop the price of bitcoin.

Obviously, there was a big action of people selling their tether to get bitcoin (and not sell to cash later on) that resulted with an increase of bitcoin at first but then we all gathered together and that "hype" actually brought bitcoin to this places. We have moved up before in bitcoin for the past 1.5 years and never really became 100% increase, so that tether deal could have been just another increase and decrease if that hype wasn't around.

At this moment, it is better to back to bitcoin because while bitcoin price is down, they can buy a lot of bitcoin with a stable coin so they only need to wait until bitcoin price can increase back.
I am sure speculators already book the profit, and I am sure they make a lot of money from the rally and now, they come back to the market with huge money to buy more bitcoin.
I am pretty sure that we will see the price increase above $8k and I wish that will happen in this month ;D

That could be at least an expected scenario. Some lose trust in tether and going back to btc is the best yet wise thing to do.
Though, somehow I'm still coming back perhaps to tether just to secure my profit but not  much as it was before.


Idk but some speculate that before a major rise, price will undergo some dips.

Tether is a scam token created with the intention 1:1 for each USD in market, but soon the original intention change.If you search tether on google the first or the wiki result says it as a controversial token.

https://en.wikipedia.org/wiki/Tether_(cryptocurrency)

Thanks for stressing this out. The bull run we saw over the weekend was mainly due to Tether sell-offs and not because of fresh money entering the market. So in my opinion we may see a sharp decline in BTCs price once again over the next few days.

Well, the market is recovering most people had sold their tether and went bacl to bitcoin. And not to set aside thw tether FUD, it surely has affected it.

What is so surprising about any of this op? Stable coins are primarily utilized by investors to transfer money between BTC and altcoins and vica versa depending on the volatility of the market and BTC dominance. Nothing new here.

Here I have what I have been looking for, so this is the secret to the price surge of bitcoin? Anyway it’s a good thing, I don’t want tether FUD to be over because if it does, then bitcoin might be heading back to $5800.

I have always seen this tether as a threat to the growth of bitcoin from onset, but their delisting really had great impact on bitcoin since they are the most popular USDT, and I don’t see people converting their bitcoin to other available ones, because what happened to Tether could also happen to other stable coin.

People just need to admit that there is no other coin that can ever be as effective as bitcoin, when did they come up with idea of tether that it’s already crashing.

We don't really know what we have for sure. There are people that are saying the the reason Tether is dropping is because the FUD and people are running out from tether and rushing into Bitcoin, which means that this is just a mini bull and will fall at anytime. But I don't believe that, everyone just wants to be seen as an expert.

I believe that this is a real bull, they have been predicting it for long and now the time has come and they have started saying all kinds of rubbish. The price will continue to go up till it reaches another high and that will likely be before the December. This is what I believe.