I know why Bitcoin is growing now!

[Bit_Discourse]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the volume of tether on the exchanges answer below?

[okala]

Hope you know tether belongs to bitfinex exchange and not binance exchange so how can you ascribe this increase in the price of bitcoin to binance buying bitcoin to support tether, do you have any Link to back your new because that is the only way we can believe your news. And if I can ascribe the increase in the price of bitcoin to any thing It simple that is increase in the demands for bitcoin on the exchange.

[Herbert2020]

except that an altcoin exchange has no place in bitcoin market and determination of its price against fiat which is mainly USD among other currencies. not to mention that buying bitcoin with an altcoin is not going to increase its price. it is like saying if you buy bitcoin with litecoin, dogecoin, ethereum,... its price is going up!!!

[posi]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the number of tether on the exchanges answer below?

You might be right because Tether was sue acouple of days back by NY Attorney General for joining force with the Bitfinex exchange concern a certain fraud and what I heard is that Tether will provide some necessary document to proof their innocent but I'm not aware about any update maybe Binance CEO have figure out something fishy.

[dothebeats]

I can assure you, this has nothing to do with Binance buying up bitcoin with Tether, and it does not make sense since Bitfinex and not Binance has association with USDT. If anything, this is just traders following some sort of sign and feel like buying now is the right time before the price leave $5000 levels for good. No good news seem to complement with what's happening in the market right now and I think no single explanation can satisfy the question of what's happening right now.

[soulripper]

except that an altcoin exchange has no place in bitcoin market and determination of its price against fiat which is mainly USD among other currencies. not to mention that buying bitcoin with an altcoin is not going to increase its price. it is like saying if you buy bitcoin with litecoin, dogecoin, ethereum,... its price is going up!!!

Still if bitcoin going up the other altcoins will be up also pairing with bitcoin. If it going low on altcoins it mean someone dont want the price of altcoins to going up also. Its just a matter of market condition nothing special.

[hulla]

Hope you know tether belongs to bitfinex exchange and not binance exchange so how can you ascribe this increase in the price of bitcoin to binance buying bitcoin to support tether, do you have any Link to back your new because that is the only way we can believe your news. And if I can ascribe the increase in the price of bitcoin to any thing It simple that is increase in the demands for bitcoin on the exchange.

Firstly, until now no one know if Tether and Bitfinex actually belong to the same person but we knew is that they were both sues for scam. However, the deal document between the two company is yet to be release.
Secondly, there's possibility that the Atom trading pairs which was said to be announced by Binance could be one of the rreason for the current surge in price of bitcoin market as the OP said.

[Simple_Plan]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the volume of tether on the exchanges answer below?

Instead of being headache figuring out why bitcoin increases/decreases, why not enjoy the show, mate? Trade and accumulate your bitcoin. Anyways, if Binance wanted to buy BTC to secure its fund, it wouldn't buy in so loudly that BTC pumped to $6k.

[Baofeng]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the volume of tether on the exchanges answer below?

I guess you need to research more. Binance has nothing to do with Tether whatsoever. No one cares about Tether though, what causes the price to grow is that there is more demand, simply as that. And there's a lot of good news like this, Fidelity Could Ignite the Next Bitcoin Rally.

[seoincorporation]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the volume of tether on the exchanges answer below?

I don't think binance is behind this bump, looks more like bitcoin is getting ready to hit the moon on dicember, that's how bitcoin roll 1 or 2 bad years and an epic december.

If binance were the one behind de bump it would be a crash for all that tether drama and not a bump.

[Naida_BR]

Hope you know tether belongs to bitfinex exchange and not binance exchange so how can you ascribe this increase in the price of bitcoin to binance buying bitcoin to support tether, do you have any Link to back your new because that is the only way we can believe your news. And if I can ascribe the increase in the price of bitcoin to any thing It simple that is increase in the demands for bitcoin on the exchange.

It doesn't matter whose is Tether.
Every holder of this coin would be in trouble is something goes wrong, and there are crazy rumors about that right now. Every one is trying to secure their positions so it could be a point that individuals sell bitcoin for tether.

[LuckyBtc]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the volume of tether on the exchanges answer below?

Well there could be another reason for this run up or upcoming like fidelity rolling out trading in few weeks? I don't know what impact they will cause on price, I'm waiting to see it through.

[Adriano2010]

As i use Binance, i don't think Binance buy bitcoin for USDT, the Tether problem was on Bitfinex, i also want to post a link or proof who show what exchange exchange USDT for bitcoin.

[Bit_Discourse]

As i use Binance, i don't think Binance buy bitcoin for USDT, the Tether problem was on Bitfinex, i also want to post a link or proof who show what exchange exchange USDT for bitcoin.

if they find out that the USDT is not backed up to the dollar, what will happen to it?

[Slow death]

Firstly, until now no one know if Tether and Bitfinex actually belong to the same person...

Tether, Bitfinex Stay Afloat Amid Controversy

“Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds. New York state has led the way in requiring virtual currency businesses to operate according to the law. And we will continue to stand-up for investors and seek justice on their behalf when misled or cheated by any of these companies.”

it seems to be the same person who owns both. But this does not matter much because there are already many alternatives to tether

[arpon11]

To me the reason why we are experiencing this bullish trend is not about a particular exchange (binance) buy bitcoin because of usdt or tether but the bearish trend that started in December 2017 has ended in December 2018 and the market has no any other options than to recover.  Cryptocurrencies market is a dynamic market and anything can happen at any time but this time I think it is a recovering face and we should expect more bullish trend in days to come.

[figmentofmyass]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds.

USDT holders (at binance and elsewhere) are probably buying bitcoin to secure their funds. that's why USDT is trading at a higher price than the rest of the market.

i don't think binance holds much (if any) USDT in its reserves. there's no reason for them to take on that risk. they just hold USDT on behalf of customers. so if USDT goes to $0, binance won't lose anything.  

it seems to be the same person who owns both. But this does not matter much because there are already many alternatives to tether

indeed, i've been trading USDC on binance lately and the books have thickened up a lot---more than enough liquidity for my purposes. this is great because binance is one of the few places where i can trade without KYC, and USDC feels 100000x safer than tether.

[Theb]

if they find out that the USDT is not backed up to the dollar, what will happen to it?

If this was the case then USDT's days being a stable coin will be over. Tether has been a solid crprotucurrency in terms of protecting your capital in volatility and it had little to no effect to it in terms of its price now that if this happens all trust will be lost and hodlers will imediately sell their position in a heart beat. By the way if you are really clueless to what is really happening and you are interested in answers you shouldn't have a misleading title to catch our attention, that's really an awful thing to do with your fellow members.

[poodle63]

Has everyone heard a showdown around USDT? At the moment, Binance is buying bitcoin for tether to secure its funds. Have you seen how the amount of USDT decreases on Binance? How to see the volume of tether on the exchanges answer below?

there is no relationship with binance but people that trade USDT from bitfinex just convert it to the bitcoin massively. https://news.bitcoin.com/new-york-prosecutors-demand-transparency-from-bitfinex-and-tether/
I have no idea about binance and it looks like people that put their money on USDT was throwing all of their USDT back to the bitcoin again. Just open tether on marketcap and you will know the volume for tether in any exchange sites. But this is not having high accuracy.

[1Referee]

But this does not matter much because there are already many alternatives to tether

It's quite amazing how rapidly the volumes have picked up of the alternatives the moment Tether once again messed up. PAX has currently 178.5 million tokens in circulation, and is doing almost as much in volume, which is very impressive. Coinbase's USDC has some catching up to do in that regard, but growth is growth regardless of how you look at it.

I'm certain that if Tether didn't mess up alternative stablecoins would remain stagnant for a long time. People as always need these events to wake up and acknowledge how serious the situation actually is. One must be an utter fool to hold any amount of USDT knowing that Bitfinex can be over and done the next day.