So some people have been speculating that Tether or Bitfinex have been printing money out of thin air which pushed the price of bitcoin from 600$ to 20k$.
Bitfinex indeed is printing 100 million every couple of days, even during the fall of bitcoin by almost 50%, which is unexplainable.
Source : twitter.com/tetherprinter?lang=en
Well Tether responded to these concerns by hiring a company to check their history and audit everything in May of 2017.
Today news came out that Tether dissolved their relation or stopped working with the auditor for whatever reasons that are not published yet.
This is a really bad sign. After this news came out people in Gdax started selling bitcoin to stay in USD incase of crypto market crash
People in Bitfinex and other USDT based exchanges bought Bitcoin with their USDT in case USDT crashes (so the concern is that 1 USDT might not be equal to 1 USD)
So they are trying to buy coins, then send these coins to exchanges that support USD which ofc pushes the price up.
So people in Gdax are selling - price of BTC went down
People in Bitfinex are using their USDT to buy - price of BTC went up
Thats why there is almost a difference of 500$ between Gdax (USD) and other USDT exchanges.
USDT - USD actually fell down hard then partially recovered as can be seen in the following chart
Personally, I moved all of my funds to Gdax and then to USD in case of a market crash.
Be careful!
*Not telling you to sell, not telling you to buy, not saying that the market will crash, not saying that we are bullish. Just presenting to you the current situation.
Link to the news:
cointelegraph.com/ne...-according-to-rumors
www.coindesk.com/tet...p-auditor-dissolved/
~DCFreak
Bitfinex indeed is printing 100 million every couple of days, even during the fall of bitcoin by almost 50%, which is unexplainable.
Source : twitter.com/tetherprinter?lang=en
Well Tether responded to these concerns by hiring a company to check their history and audit everything in May of 2017.
Today news came out that Tether dissolved their relation or stopped working with the auditor for whatever reasons that are not published yet.
This is a really bad sign. After this news came out people in Gdax started selling bitcoin to stay in USD incase of crypto market crash
People in Bitfinex and other USDT based exchanges bought Bitcoin with their USDT in case USDT crashes (so the concern is that 1 USDT might not be equal to 1 USD)
So they are trying to buy coins, then send these coins to exchanges that support USD which ofc pushes the price up.
So people in Gdax are selling - price of BTC went down
People in Bitfinex are using their USDT to buy - price of BTC went up
Thats why there is almost a difference of 500$ between Gdax (USD) and other USDT exchanges.
USDT - USD actually fell down hard then partially recovered as can be seen in the following chart
Personally, I moved all of my funds to Gdax and then to USD in case of a market crash.
Be careful!
*Not telling you to sell, not telling you to buy, not saying that the market will crash, not saying that we are bullish. Just presenting to you the current situation.
Link to the news:
cointelegraph.com/ne...-according-to-rumors
www.coindesk.com/tet...p-auditor-dissolved/
~DCFreak
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The premium from bitfinex is now gone, Gdax's price is the same.
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Posted it a while ago..
