Some interesting developments on Tether. Tether is such a dumb subject. So many conspiracy theories and everyone is an expert. Literally no one here knows what is going on behind the scenes. Nefarious or not, there does seem to be some relationship between BTC price and the USDTUSD ratio. However there is not too much history to go on and examining history is statistical anyway. So this is just for interest purposes.
Firstly high volatility periods in BTC seem to correspond with high volatility in USDTUSD (no surprise there). Second BTC consolidation zones (red squares) seem to match zones where the USDTUSD ratio is significantly greater than 1 (i.e. USDT > USD). Lastly bottoms/pumps (green circles) seem to match zones where the USDTUSD ratio is significantly less than 1 (i.e. USDT < USD).
USDT is down now about 3% under the dollar. Significant, but it has been lower than 10% on a couple of occasions in 2017, during the BTC bull run.
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Inverse price action between tether and True USD on Bittrex
check bitfinex premium price compared to bitstamp when usdt crashes.. it happened many times in 2017 and it was 10% above fiat exchanges..
elshanti
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@elshanti, USDT crashed twice to 0.90 $.. first time it was april and the first bubble started.. second was mid november..and the second bubble started..welcome to the third bubble !
weslad
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Perfect BTC analysis
elshanti
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tether is a tool for shitcoins..no surprise it is widely used in bitfinex and binance where the highest shitcoin trade volume occur..most of them non liquid coins
RealMcafee
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@elshanti, Right now they're turning BTC into a shitcoin with $400 disparity between bfx and non-Tethered exchanges :D
I think price will have to consolidate now and allow $-exchanges to catch up.