Could Tether Bring Down Bitcoin?

[bonker]

I don't think tether has such big power to take Bitcoin down. Stable coin is not enough and if people are going to those fiat-based, I'm pretty sure there will be more fiat-based tokens and crypto space is nothing different with fiat space.

If a stable coin takes place of bitcoin in future then it literally meant to be the end of crypto era,so people who had thing though need to think why they need stable coins which is centralized and against the decentralized payment system.IMO,stable coins will not survive too long,they have high hope until the coins were traded when crypto comes for payment then exchanges and stable coins will lose its demand.

[tunapa]

there is no relationship between bitcoin and tether even though people associate it the 2017 bull run of bitcoin to be caused by some tether manipulations but this is not so. people just want find a common factor like tether that will seem to be the one responsible for bitcoin bull run. however, bitcoin value and price is not dependent on tether so it cant affect it.

[RamBahadur.Gurung]

How can Tether bring down or replace Bitcoin, when it is an entirely different type of asset. Tether is the online version of the United States Dollar and its value is exactly equivalent to the exchange rate of USD. On the other hand, Bitcoin is an independent currency, and its exchange rate doesn't have any connection with that of the USD.

I think a more logical question to ask would be: "Could Tether bring down credit cards?"

[DBronze98]

The tether cannot take down Bitcoin because it is Stablecoin and it has a high degree of stability, so it is unable to compete with Bitcoin. Tether is a safe choice when the market falls so when the market is stable and growing there will not be any investors who want to hold Tether because it is not profitable for them.

[BubbleBoiler]

Reported today that Bitfinex used Tether reserves to mask missing $850 Million which sounds very shady.