Why did the price of Bitcoin suddenly spike up (October 15, 2018)?

[vit05]

Marius Kramer, No. 1 Bitcoin writer on Quora worldwide
Answered 8h ago
At first, there were scam rumors for Tether, because only USDT pairs pumped. Furthermore, there was the rumor that all USDT pairs will be delisted from Binance.

That’s why everybody thought all USDT pairs are pumping because everyone wants to get out of USDT.

An hour later Kucoin suspended tether deposits and withdrawals. https://www.google.de/amp/s/bitc...

These were all the assumption.

However, the actual reason is most likely very simple.

It was just a whale buying up lots of Bitcoin with lots of USDT that he held. In fact, he bought up $500M worth of Bitcoin, which made the Bitcoin market cap go up by $25B.

Here is how it works:

He buys up Bitcoin so that the price goes up by 10%. All USDT pairs pump by 10%, too.

So if IOTA is worth 9000 Satoshi, which is $0.5 and Bitcoin goes up by 10%, IOTA is still worth 9000 Satoshi, but then $0.55, so it shows as a 10% pump in the IOTA/USDT pair, while remaining stagnant in its BTC pair.

So, this doesn't have to do anything with Tether, just a whale buying lots of BTC. When that happens, USDT pairs always pump, because of math.

However, I don’t think it was an institutional investor, but someone who had lots of USDT. So, he bought $500M worth of Bitcoin with USDT. Since, this put a lot of USDT on the market, the USDT price tanked.

If you look at Top 100 Richest Bitcoin Addresses and Bitcoin distribution, there are currently only 3 addresses that hold that much wealth and they all belong to the exchanges Bitfinex, Bitrexx, Binance. That means, it must be a whale from January during the height of the bull run, where there were around 50 addresses with that much wealth.

It was probably one of the 10 largest Bitcoin whales who had cashed out half a billion into USDT back in January and now decided to sell all Tether, because of all the sketchiness surrounding it and because he thought Bitcoin has probably found its bottom. That’s why he decided to buy back in now.

Now, the Bitcoin/USD and Bitcoin/USDT markets have to even each other out at probably around $6,600.

If you found this answer helpful, please leave an upvote.

P.S. If you need help with your portfolio (larger than $200,000) for this coming bull run, I provide professional guidance for $500/week and a 10% profit share. However, only if you make profit. If you don’t make profit, there is no weekly fee

quora Marius Kramer

[1715403939]

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[harizen]

Next time if you will copy-paste a content make sure that you also construct it the right way and have some own thoughts also about the topic. Even you posted a link still it's like a form of plagiarism.

You don't have to include these lines:

"Answered 8h ago"

"f you found this answer helpful, please leave an upvote."

"P.S. If you need help with your portfolio (larger than $200,000) for this coming bull run, I provide professional guidance for $500/week and a 10% profit share. However, only if you make profit. If you don’t make profit, there is no weekly fee"


Anyways, the author have some good insights and analyzation about the "specific reason" why the price rallies today. However, there are still other factors that we can look into why it turned out like that. As of typing, price went back again to $6,400+ spoiling the sudden excitement of an average joes.

[Gaaara]

You don't have to include these lines:

"Answered 8h ago"

"f you found this answer helpful, please leave an upvote."

"P.S. If you need help with your portfolio (larger than $200,000) for this coming bull run, I provide professional guidance for $500/week and a 10% profit share. However, only if you make profit. If you don’t make profit, there is no weekly fee"


Anyways, the author have some good insights and analyzation about the "specific reason" why the price rallies today. However, there are still other factors that we can look into why it turned out like that. As of typing, price went back again to $6,400+ spoiling the sudden excitement of an average joes.

I agree, with those words the impact to the readers will be as if it wasn't copied or it's only used for some preferences while in fact it was mostly a one person stated and passed to another, categorizing the authors written work to make it owned content, the problem is it shouldn't be looked like that.

[figmentofmyass]

you could think of it as USDT whales or bitfinex whales. bitfinex = tether. they are one and the same, owned by the same people. that's why USDT trades as USD on bitfinex markets.

it's at least partly to do with bitfinex's banking problems. they shut down fiat deposits and there have been withdrawal delays, so people are panicking about insolvency. that's why people are willing to pay a premium (>5% right now) to get their USD off bitfinex (or out of USDT) via the only possible exit route: buying crypto.

the question now is whether technical traders view this as a legitimate breakout or not.

[Marcel555]

you could think of it as USDT whales or bitfinex whales. bitfinex = tether. they are one and the same, owned by the same people. that's why USDT trades as USD on bitfinex markets.

it's at least partly to do with bitfinex's banking problems. they shut down fiat deposits and there have been withdrawal delays, so people are panicking about insolvency. that's why people are willing to pay a premium (>5% right now) to get their USD off bitfinex (or out of USDT) via the only possible exit route: buying crypto.

the question now is whether technical traders view this as a legitimate breakout or not.

Could that be the reason why bitcoin's value is higher in bitfinex than other exchanges?
There us a wide gulf in price of bitcoin on the different exchanges at the moment.

I wouldn't call this a legitimate breakout. Rather a momentary spike in price caused by forces not directly connected with project development and adoption.

[tenakha]

People used the USDT to store fixed money, but this happening will cause fear in the people against USDT, people will be less interested and this will affect the volume of Bitcoin. Maybe it will play a positive role for the future price.
The other way for storing is fiat which will cause to lose interest and i don't think more folks will try.
Already Bitcoin's price is more stable than USDT in recent days, it is best to try. 

[Zadicar]

the question now is whether technical traders view this as a legitimate breakout or not.

No it isn't a legitimate breakout because if we do talk about break out it wont really happen on a pump and dump schematic way.


This is also a good link to read up: https://www.chepicap.com/en/news/4407/bitfinex-premium-on-btc-up-400-usdt-drops-over-2-as-markets-pump-on-monday.html

[figmentofmyass]

you could think of it as USDT whales or bitfinex whales. bitfinex = tether. they are one and the same, owned by the same people. that's why USDT trades as USD on bitfinex markets.

it's at least partly to do with bitfinex's banking problems. they shut down fiat deposits and there have been withdrawal delays, so people are panicking about insolvency. that's why people are willing to pay a premium (>5% right now) to get their USD off bitfinex (or out of USDT) via the only possible exit route: buying crypto.

the question now is whether technical traders view this as a legitimate breakout or not.

Could that be the reason why bitcoin's value is higher in bitfinex than other exchanges?
There us a wide gulf in price of bitcoin on the different exchanges at the moment.

I wouldn't call this a legitimate breakout. Rather a momentary spike in price caused by forces not directly connected with project development and adoption.

yeah, that was quite the pullback. heading into the daily candle close, this might just be a wick outside the range even on bitfinex.

not a full retrace though. we'll see what happens over the next day or two. i remember thinking it wasn't legitimate last year either, when bitfinex lost wells fargo and a similar price premium developed between exchanges. but eventually the other exchanges caught up and........bubble.

[Bitcotalk]

This causes another question mark. If a person cashed out all of their bitcoins into usdt back in january and than thinks that it is great time to buy bitcoin right now with those usdt he has than it means dude was right that we were getting into a 10 month bear market so maybe he could be on to something and think we are going to moon soon as well? I mean of course we have no idea knowing if this story is real or not, I just take it at the face value and believe it but maybe something different happened who knows. I just assume if a person got out at the peak and now got back in than he must be thinking we are going up and that means we have a 500 million dollar bet on bitcoin going up today. However considering the price already fall back down, there is not much hype around that coming anytime soon.

[rodalutor]

The price movement was nothing important or new and shouldn't be analyzed in so much depth. We've seen for the last few months bitcoin moving between levels of 6100 and 6700. It seems almost obvious now that that's all that's happening, there's no fundamental reasoning behind it.

[cabron]

What do you think is the reason why all of a sudden that whale's confidence spikes up and invest his millions on BTC? He must have an inside information either from exchanges to financial institutions or ETF council?  You don't just do it because you see the price seem not getting lower than $6k, if I were him and without any information from anyone that its a good day to buy, I wouldn't buy.

[Pursuer]

it doesn't really work that way though!

first of all let me mention that the recent rise was not a rise at all but in  fact a fall. in other words value of Tether dropped so in order for altcoins to keep their value up they needed to rise against Tether and that is what happened here.

but lets get to the middle part of OP comment. when bitcoin rises (assuming Tether is worth $1) altcoins seemingly rise up but not because they keep their value, in fact they fall in value against USD and BTC but because this fall is not equal to bitcoin price rise, the final result is a rise. for example if bitcoin is $1000 and some altcoin is worth 0.1BTC and then bitcoin goes up to $2000 that altcoin, if it remains 0.1BTC will rise to $200 which is impossible for that coin to happen because there is nobody buying it. what happens is that rise of bitcoin from $1000 to $1000+ will start creating arbitrage opportunity in ALT/BTC and ALT/USD and as traders arbitrage this the final value of that coin will go somewhere between $100 and $200 and closer to lower bound. so the final result will be an altcoin worth around 0.06BTC which is a big fall but thanks to arbitrage traders the value of it rose a little to $120 in a fake manner.

[nicster551]

Marius Kramer, No. 1 Bitcoin writer on Quora worldwide
Answered 8h ago
At first, there were scam rumors for Tether, because only USDT pairs pumped. Furthermore, there was the rumor that all USDT pairs will be delisted from Binance.

That’s why everybody thought all USDT pairs are pumping because everyone wants to get out of USDT.

An hour later Kucoin suspended tether deposits and withdrawals. https://www.google.de/amp/s/bitc...

These were all the assumption.

However, the actual reason is most likely very simple.

It was just a whale buying up lots of Bitcoin with lots of USDT that he held. In fact, he bought up $500M worth of Bitcoin, which made the Bitcoin market cap go up by $25B.

Here is how it works:

He buys up Bitcoin so that the price goes up by 10%. All USDT pairs pump by 10%, too.

So if IOTA is worth 9000 Satoshi, which is $0.5 and Bitcoin goes up by 10%, IOTA is still worth 9000 Satoshi, but then $0.55, so it shows as a 10% pump in the IOTA/USDT pair, while remaining stagnant in its BTC pair.

So, this doesn't have to do anything with Tether, just a whale buying lots of BTC. When that happens, USDT pairs always pump, because of math.

However, I don’t think it was an institutional investor, but someone who had lots of USDT. So, he bought $500M worth of Bitcoin with USDT. Since, this put a lot of USDT on the market, the USDT price tanked.

If you look at Top 100 Richest Bitcoin Addresses and Bitcoin distribution, there are currently only 3 addresses that hold that much wealth and they all belong to the exchanges Bitfinex, Bitrexx, Binance. That means, it must be a whale from January during the height of the bull run, where there were around 50 addresses with that much wealth.

It was probably one of the 10 largest Bitcoin whales who had cashed out half a billion into USDT back in January and now decided to sell all Tether, because of all the sketchiness surrounding it and because he thought Bitcoin has probably found its bottom. That’s why he decided to buy back in now.

Now, the Bitcoin/USD and Bitcoin/USDT markets have to even each other out at probably around $6,600.

If you found this answer helpful, please leave an upvote.

P.S. If you need help with your portfolio (larger than $200,000) for this coming bull run, I provide professional guidance for $500/week and a 10% profit share. However, only if you make profit. If you don’t make profit, there is no weekly fee

quora Marius Kramer

USDT really has a lot of issues for the past few years and it really went down yesterday that makes the price of Bitcoin go up because those USDT holders got out of USDT and put it all in Bitcoin.

[goodluck0319]

perhaps this is due to the situation around stable coin, as these coins attract more attention to cryptocurrencies

[clickerz]

People used the USDT to store fixed money, but this happening will cause fear in the people against USDT, people will be less interested and this will affect the volume of Bitcoin. Maybe it will play a positive role for the future price.
The other way for storing is fiat which will cause to lose interest and i don't think more folks will try.
Already Bitcoin's price is more stable than USDT in recent days, it is best to try. 

Thats what I read also, USDT loses value and it pump up the  BTC price and  on most altcoins. Bitcoin is stable at 6,000 dollar range, it has great support. Some  says its just a test to USDT and I hope it will trigger a bullrun in the future.  

[kikoy999]

That's good news for me but i missed up for that date and forget to check bitcoin price in that day but now bitcoin is quiet growing up.

[Crypto Girl]

Then we can say that there will be something that whales cooking up though we can't be certain but whatever it is hopefully everyone can benefit to it. Like come on we're longing for some good pump, just give some pump that can make everyone go crazy and let the FOMOs come in.

P.S. If you need help with your portfolio (larger than $200,000) for this coming bull run, I provide professional guidance for $500/week and a 10% profit share. However, only if you make profit. If you don’t make profit, there is no weekly fee

Alright. This made my day

[okala]

We have some news that influenced investors confident on the market and that is why bitcoin price spake up in a very high ways.  I think we should buy bitcoin now that we can still afford it at a very cheap price before the fidelity brokers come into the market.

[Jamjamz30]

The spike recently caused most investors to be positive with the market. They felt that this is it, the bull market is coming. But, the spike was just a sign of something big is about to happen and saying that bitcoin is not dying. I think, bull run about to happen early next year.

[cryptoblazter]

We may never know the real reason of the spike of bitcoin's price of about 12% in just a matter of hours. Was this the sign of a bullis market. How exciting will this past months of the year be! Will holodays become sweet holidays. But, after the sharp rise, there were no significant rise.

[shield132]

it doesn't really work that way though!

first of all let me mention that the recent rise was not a rise at all but in  fact a fall. in other words value of Tether dropped so in order for altcoins to keep their value up they needed to rise against Tether and that is what happened here.

but lets get to the middle part of OP comment. when bitcoin rises (assuming Tether is worth $1) altcoins seemingly rise up but not because they keep their value, in fact they fall in value against USD and BTC but because this fall is not equal to bitcoin price rise, the final result is a rise. for example if bitcoin is $1000 and some altcoin is worth 0.1BTC and then bitcoin goes up to $2000 that altcoin, if it remains 0.1BTC will rise to $200 which is impossible for that coin to happen because there is nobody buying it. what happens is that rise of bitcoin from $1000 to $1000+ will start creating arbitrage opportunity in ALT/BTC and ALT/USD and as traders arbitrage this the final value of that coin will go somewhere between $100 and $200 and closer to lower bound. so the final result will be an altcoin worth around 0.06BTC which is a big fall but thanks to arbitrage traders the value of it rose a little to $120 in a fake manner.

I don't know what to call that movement, rise or something different but recently, 15th october was the only day when I haven't checked bitcoin's price everything happened so quickly that I got information of price on this forum.
Btw tether didn't fall so much to cause almost 1/2K rise in bitcoin's price, tether got -1% but bitcoin got more than 10%.

[benalexis12]

It's all about delisted USDT, I'm not fan of stable coin. I rather choose bitcoin or altcoins to trade it on exchange. Those spike are literally a huge buy back by some whalers.
Looks like we have a bull season this year and definitely i buy alot of bitcoins to save it on my profile.

[tenakha]

People used the USDT to store fixed money, but this happening will cause fear in the people against USDT, people will be less interested and this will affect the volume of Bitcoin. Maybe it will play a positive role for the future price.
The other way for storing is fiat which will cause to lose interest and i don't think more folks will try.
Already Bitcoin's price is more stable than USDT in recent days, it is best to try. 

Some  says its just a test to USDT and I hope it will trigger a bullrun in the future.  

I don't think you should expect big news for every occasion, even the small manipulation of whales triggers the price.
Your technical analysis says pray for the future? you talk without any evidence like you're praying for the future. If you know more than me can you say when will the price return? Hope?

[dothebeats]

USDT prices have gone down during that day, and perhaps some people have removed their assets on the said token and have moved some over to bitcoin. This is not some sort of spike that should get us going considering that not everything hints towards a bull market; demand in exchanges remain low and prices remain stagnant, hinting that there's really not much going on right now compared to the past bull runs. With the recent spike, I'm much more concerned to the state of USDT rather than any possible bull runs.

[daviidalpert]

That is only a temporary rise.That doesn't mean the arrival of the bull market.It means that the market accepts stable currency. the price has stabilized.

[ErmaburR]

We have some news that influenced investors confident on the market and that is why bitcoin price spake up in a very high ways.  I think we should buy bitcoin now that we can still afford it at a very cheap price before the fidelity brokers come into the market.

You are right it is the best time to buy bitcoin before the price rise beyond the limits and to earn profit in the future. Existing investors should not worry about the current situation of the market and be patient to hold their coins for some time. Now the trend is changing and I think that we will see some moves upwards in the last couple of this year.

[erickkyut]

It was because of the FUd about Tether I think. Investors sold they tether and invested it on Bitcoin and other stable coins. Another possible reason is that Fidelity announced that it will hapoen an exchange for Bitcoin and other cryptocurrencies. Exoect more upcoming pump in the future.

[Pursuer]

it doesn't really work that way though!

first of all let me mention that the recent rise was not a rise at all but in  fact a fall. in other words value of Tether dropped so in order for altcoins to keep their value up they needed to rise against Tether and that is what happened here.

but lets get to the middle part of OP comment. when bitcoin rises (assuming Tether is worth $1) altcoins seemingly rise up but not because they keep their value, in fact they fall in value against USD and BTC but because this fall is not equal to bitcoin price rise, the final result is a rise. for example if bitcoin is $1000 and some altcoin is worth 0.1BTC and then bitcoin goes up to $2000 that altcoin, if it remains 0.1BTC will rise to $200 which is impossible for that coin to happen because there is nobody buying it. what happens is that rise of bitcoin from $1000 to $1000+ will start creating arbitrage opportunity in ALT/BTC and ALT/USD and as traders arbitrage this the final value of that coin will go somewhere between $100 and $200 and closer to lower bound. so the final result will be an altcoin worth around 0.06BTC which is a big fall but thanks to arbitrage traders the value of it rose a little to $120 in a fake manner.

I don't know what to call that movement, rise or something different but recently, 15th october was the only day when I haven't checked bitcoin's price everything happened so quickly that I got information of price on this forum.
Btw tether didn't fall so much to cause almost 1/2K rise in bitcoin's price, tether got -1% but bitcoin got more than 10%.

in this particular case it was not a drop, it was not a rise either. there was a slight price rise in bitcoin but that is negligible. the best example of this case that I can think of is the case of a fiat in a country that is undergoing a financial crisis. like Turkey, Venezuela, Iran,... for example if $1 was worth 10 units of their fiat prior to the crisis, and if it were worth 20 units of their fiat after it, in this process USD value did not go up. instead the fiat value of that country dropped while USD was stable.

in this case 1 bitcoin was 6500$ and 6500 Tether because 1 tether was 1 $ but when 1 tether tanked and reached 0.9 $ the value of bitcoin which was 6500 $ became 7200 Tether. in this scenario bitcoin did no rise but Tether tanked instead. I know tether wasn't exactly $0.9 but price reached that high because when the crash happens in an altcoin market it is followed by a panic and that panic leads to people pulling their orders and that makes the movement that much easier. lack of arbitrage trading due to disabling of deposit/withdrawals was also helping this matter.

[Altcoins enthusiast]

Marius Kramer, No. 1 Bitcoin writer on Quora worldwide
Answered 8h ago
At first, there were scam rumors for Tether, because only USDT pairs pumped. Furthermore, there was the rumor that all USDT pairs will be delisted from Binance.

That’s why everybody thought all USDT pairs are pumping because everyone wants to get out of USDT.

An hour later Kucoin suspended tether deposits and withdrawals. https://www.google.de/amp/s/bitc...

These were all the assumption.

However, the actual reason is most likely very simple.

It was just a whale buying up lots of Bitcoin with lots of USDT that he held. In fact, he bought up $500M worth of Bitcoin, which made the Bitcoin market cap go up by $25B.

Here is how it works:

He buys up Bitcoin so that the price goes up by 10%. All USDT pairs pump by 10%, too.

So if IOTA is worth 9000 Satoshi, which is $0.5 and Bitcoin goes up by 10%, IOTA is still worth 9000 Satoshi, but then $0.55, so it shows as a 10% pump in the IOTA/USDT pair, while remaining stagnant in its BTC pair.

So, this doesn't have to do anything with Tether, just a whale buying lots of BTC. When that happens, USDT pairs always pump, because of math.

However, I don’t think it was an institutional investor, but someone who had lots of USDT. So, he bought $500M worth of Bitcoin with USDT. Since, this put a lot of USDT on the market, the USDT price tanked.

If you look at Top 100 Richest Bitcoin Addresses and Bitcoin distribution, there are currently only 3 addresses that hold that much wealth and they all belong to the exchanges Bitfinex, Bitrexx, Binance. That means, it must be a whale from January during the height of the bull run, where there were around 50 addresses with that much wealth.

It was probably one of the 10 largest Bitcoin whales who had cashed out half a billion into USDT back in January and now decided to sell all Tether, because of all the sketchiness surrounding it and because he thought Bitcoin has probably found its bottom. That’s why he decided to buy back in now.

Now, the Bitcoin/USD and Bitcoin/USDT markets have to even each other out at probably around $6,600.

If you found this answer helpful, please leave an upvote.

P.S. If you need help with your portfolio (larger than $200,000) for this coming bull run, I provide professional guidance for $500/week and a 10% profit share. However, only if you make profit. If you don’t make profit, there is no weekly fee

quora Marius Kramer

You have just give some of us understanding just now and I think I am well informed after reading this. Thank you sir if I have such big fund I could have invested and list your signal. The whales are the major controllers of cryptocurrencies market and one has to have this insiders information to play along with them.

[novaprime]

That is only a temporary rise.That doesn't mean the arrival of the bull market.It means that the market accepts stable currency. the price has stabilized.

Price is not stable and this is just a news that makes Bitcoin prices increase. I think anything can happen in this market and it is out of our control. I personally believe this will be a new start for the development phase because I have been waiting so long to see the new price increase.

[o_e_l_e_o]

It was because of the FUd about Tether I think.

Fud? I would hardly call it fud. I would call it completely legitimate concerns given that Tether and Bitfinex are likely insolvent.

Bitfinex and Tether are run by the same company and the same people. Bitfinex's cold wallet (https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r) stores have fallen by $700 million in the last few weeks, and continue to fall. Tether's market cap has also fallen by $700 million (coincidence?) in the same period. Since they refused to submit to an audit, and we have absolutely no idea if Tether is actually backed up the same value of USD as they claim, and it is possible they are redeeming Tether against their own cold wallet.

They are down to $800 million of funds in their own cold wallet, the majority of which will belong to customers, and there is still over $2 billion in outstanding Tether. It is very possible they are insolvent.

[Domicbora]

The spike recently caused most investors to be positive with the market. They felt that this is it, the bull market is coming. But, the spike was just a sign of something big is about to happen and saying that bitcoin is not dying. I think, bull run about to happen early next year.

It is because bitcoin is still the top crypto in the market and most people believe that only bitcoin can give them huge profits in the near future. Other coins will take long time to rise high and give good profit. It is better to buy bitcoin instead of any other coin and wait for long. The current situation of the market will change soon due to huge investment and the price will as you say spike up.

[bravehearth0319]

The sudden spike I think is due some manipulation made by whales. They want to send a positive message to the rest of the cryptocurrency, showing that we are entering the November and December and we need the much awaited bull run.

[wozzek23]

That is only a temporary rise.That doesn't mean the arrival of the bull market.It means that the market accepts stable currency. the price has stabilized.

One thing I want to make clear is that we should not attach or link the bull with December or any month. It can come anytime and I think we should expect one soon in the start of the next year. In fact we would have a boom in the crypto market once we have all the factors that affect the crypto market goes in harmony with the Bitcoin. The addition of push exerted by the demand for the coin as well as the expansion will aid further and this time the boom might last longer than before.

[kikoy999]

Maybe this year we will need to wait for the price of bitcoin to increase it again for now we need to wait and suffer the pricr of it.

[jrrsparkles]

Not much of spike to discuss about so better use our common sense before reacting to someone's tweet or comment on social media.For me the prices were just lying at the current range for too long so the small bump can happen any time bust soon after that the prices get dulited and returned back to the normal value.

[kyle999]

Not much of spike to discuss about so better use our common sense before reacting to someone's tweet or comment on social media.For me the prices were just lying at the current range for too long so the small bump can happen any time bust soon after that the prices get dulited and returned back to the normal value.

For every bitcoin's price they always wait for it and every seconds the price will increase the people in social media always spreading it to know what is exactly happen in bitcoin.

[Victorycoin]

What do you think is the reason why all of a sudden that whale's confidence spikes up and invest his millions on BTC? He must have an inside information either from exchanges to financial institutions or ETF council?  You don't just do it because you see the price seem not getting lower than $6k, if I were him and without any information from anyone that its a good day to buy, I wouldn't buy.

Yes, there is certainly a method in that madness, $500M bet on Bitcoin to rise does not happen every day. It either confirms Tether is on fire or Bitcoin is finally geared up for another bullish run. Experience from trading shows that breakouts don't just run along, they mostly retrace to test and even retest the prominent support level before giving it a run, so let's wait in excitement as the days go by.

At any rate, selling Bitcoin at peak prices for Tether and buying them Bitcoins back at lower rates is a smart and profitable move to take anytime Bitcoin loses steam.

[ghermghuda]

Wow, that's an awesome analysis there that escaoed many. But nevertheless we shouldn't forget that the FUD also contributed because it happened at dawn GMT and many would've been asleep so when they woke up, checked thebnews and saw that, they all sold off tether to contribute to the pump.

[paynercash]

Maybe this year we will need to wait for the price of bitcoin to increase it again for now we need to wait and suffer the pricr of it.

The market is based on supply and demand, so the sudden price increase is very normal, so I keep holding and waiting for the opportunity, the market will recover sooner this year, just be patient. I will succeed.

[o_e_l_e_o]

It either confirms Tether is on fire or Bitcoin is finally geared up for another bullish run.

It is definitely Tether being "on fire", as you put it. Tether's marketcap has continued to fall by steady $50 million increments as they desperately cash out more and more to try to bring it back up to $1. They are at least back up to $0.99 for the first time in two weeks. They've lost a billion dollars from their market cap in under a month. So much for being stable, haha.

At any rate, selling Bitcoin at peak prices for Tether and buying them Bitcoins back at lower rates is a smart and profitable move to take anytime Bitcoin loses steam.

Selling Bitcoin at peak prices for an actually stable stablecoin is a smart move. Any move involving Tether right now is decidedly not smart, unless that move is getting the hell out of Tether.