What is happening right now? (2018/10/15)

[funchiestz]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

[1715016473]

1715016473

[talkbitcoin]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

OMG, did you people start using bitcoin yesterday?
bitcoin price is the same as it was ever. and a rise is not a pump. right now you are looking at the price of bitcoin versus an altcoin and think that price is the value of bitcoin! that altcoin is called Tether not USD

check out Coinbase, Kraken, and other exchanges that are actually trading bitcoin with fiat. you can also check out exchanges that have other fiats such as Euro, CNY, JPY, ... they are all the same.

it is just that one altcoin (tether) that is falling in price.

[crairezx20]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

I don't find any reason why the price of bitcoin is suddenly jumped for almost 5%-10% according to some news that the price of bitcoin hit 7k value again from Bitfinex exchange in Hongkong but according to CMC the price of bitcoin was increased around $6700. 
There is $10 billion added on market capitalization but I can't find any reasons why the price increased in a couple of minutes but I think there is a big event happen in hong kong where many people buy bitcoin a few hours ago.

[nicster551]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

They said that people took all of their funds from USDT and try to buy it for Bitcoin then that makes the price of Bitcoin go up for the mean time.

[Herbys]

I think this is a slight panic over Tether, investors are forced to look for a profitable investment for their Tether.

[HeRetiK]

Seems like people are fleeing from USDT and are thus moving into BTC and some of the alts in case USDT turns out to be insolvent.

Not sure why everone is fleeing USDT right now however.

[ophyrim]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

The pump was not so strong and BTC cannot reach 7k USD level at the exchanges which use USD instead of tether. The price action was not real. In some exchange who use tether instead of USD you can see 7.5 + levels. This is because of tether/USD price. Normally each tether must equal at 1 USD. But during this movement, each tether was equal of less than 0.9 USD. This is the main reason of this BTC price movement and also big spread bettwen exchanges.

Seems like people are fleeing from USDT and are thus moving into BTC and some of the alts in case USDT turns out to be insolvent.

Not sure why everone is fleeing USDT right now however.

The price of tether was dropping since few days and today there was a rumor that Binance will delist tether. But this news was not accepted by Binance CEO.
https://twitter.com/cz_binance

[Herbys]

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.  

[DipDare11]

I think that this is another move on the part of the whales, in order to get even more profit than usual)) Usually this happens))

[tomahawk9]

Either some people are trying to trigger another BTC rally or it is related with the massive dump in Tether earlier. Either way, some people definitely took some profits from the pump as there was a sell-off in btc. Now let's see if we can consolidate around the current levels (6900), since we went past the last resistance level (high 6.7k), it'll be great if we can stay at these levels for some time.

Not sure why everone is fleeing USDT right now however.

Timing is weird, perhaps there's some insider information going around which scared some people off (?).

[TheBeardedBaby]

This is just a normal movement up as the market was quite stable in September.
This should be the response  of the price drop from the 10-11th October.

Looking at the 1 month graph from coindesk :



Don't forget that on 4th of September the price was over 7300$.

[lisanpykek]

I think that people were confused when Bitcoin suddenly rose dramatically. I have watched the market. I think some groups have been spreading the news that Binance will delist Tether off their floor. But now it seems the market has stabilized in part.

[Manuel05]

Oh well I think its just normal pump and dump, in the market. I Dont think its related to anything though the market (bitcoin)/have been stable for a while now so it's about time an increase or decrease happen.

The benefit of such news is that, the fuss will spike new investors and to buy back into the market.

[Twentyonepaylots]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Either some people are trying to trigger another BTC rally or it is related with the massive dump in Tether earlier. Either way, some people definitely took some profits from the pump as there was a sell-off in btc. Now let's see if we can consolidate around the current levels (6900), since we went past the last resistance level (high 6.7k), it'll be great if we can stay at these levels for some time.

Not sure why everone is fleeing USDT right now however.

Timing is weird, perhaps there's some insider information going around which scared some people off (?).

  One understand that the market is Volatile, anything can happen at any given time, its a market testing on 7k plus price value of Bitcoin on the market, and it drop again, if this is really market rally we can expect that the price value of Bitcoin will goes up on and remain up stream, But i am optimistic, once it break the resistance on the market it will be a all up stream trend on Crypto Trading. Let's wait and monitor the market behavior.

[jseverson]

Not sure why everone is fleeing USDT right now however.

It doesn't look like it's fully backed anymore. It's trading at $0.96 a piece at the moment, according to CoinMarketCap.

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Bitcoin is probably being used to turn USDT into actual USD in the absence of USDT-USD pairs. (USDT -> BTC -> USD)
If this Tether slide continues, Bitcoin is probably going to be even more volatile.

[Ava Duvall]

I think that people were confused when Bitcoin suddenly rose dramatically. I have watched the market. I think some groups have been spreading the news that Binance will delist Tether off their floor. But now it seems the market has stabilized in part.

Not all were confused- newbies mostly. its not great news that the market stabilized but it's good enough for the moment

[Marcel555]

Tether users were spooked panic as the price dropped below one USD, and this caused a massive influx to bitcoin as they dumped their USDT.

Stable coins has never been a sustainable model in my opinion.
The present situation is not good news for BTC, just bad news for USDT

[vixcious]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Tether has been reported as one of the largest fraud scams in the world and that has caused many traders to sell USDT at low prices and now the value of USDT is only $ 0.96. . That was a bad thing and that made Bitcoin's price higher than ever. More traders bought Bitcoin and that made the price of Bitcoin strong.

[antisocial77]

market crushed many times with lies, so actually i dont care about the tether,usdt etc..we needed a fomo and it happened, i hope it will continue.

[ambisyon]

I think what happens right now in the crypto market may seem to be a start of the bullish market for btc and not able to get a big impact for the alts. Let's wait and see in the coming days if market will continue to grow further and in the event it will, I believe that it may be a repeat history the same as what happened last year. Consequently, people should be observant in the market and most probably they should have to hold further on their crypto coins as this may give the people a good return of investment.