Jump to content
Kate

Tether drops !!

Recommended Posts

Tether a crypto coin that was said that it would be very stable has just dropped which led to the rise of bitcoin. 

Tether's price now is around 0.96$ and it has been at that price for almost 24 hours. Usually when Tether drops it regains the 1 dollar price back quick but this time it was there for 24 hours.

Does this mean tether has to drop so bitcoin can rise ? 

Source : https://news.bitcoin.com/the-fall-of-tether-and-what-it-means-for-the-cryptocurrency-markets/

Share this post


Link to post
Share on other sites

So what you are saying is if Tether drops Bitcoin rises? If so I sure hope Tether goes low and bitcoin goes up! :D

Share this post


Link to post
Share on other sites
1 hour ago, EddieFx said:

So what you are saying is if Tether drops Bitcoin rises? If so I sure hope Tether goes low and bitcoin goes up! :D

I am not saying for sure but maybe its because of tether drop bitcoin reached 7k 

Share this post


Link to post
Share on other sites
9 hours ago, Kate said:

Does this mean tether has to drop so bitcoin can rise ? 

no it doesn't mean that

bitcoin price fluctuation in past occurred even when tether didn't have big moves

but since all think tether has to be equal to $1 that makes opportunity for price change of bitcoin

and don't forget, many really don't understand how markets works :)

Share this post


Link to post
Share on other sites
2 hours ago, Dancer said:

no it doesn't mean that

bitcoin price fluctuation in past occurred even when tether didn't have big moves

but since all think tether has to be equal to $1 that makes opportunity for price change of bitcoin

and don't forget, many really don't understand how markets works :)

Will but when tether dropped for a long time butcoin Rose

Share this post


Link to post
Share on other sites

Yesterdays pump was due to tether losing its price to some extent. If you did check the preev rate of bitcoin/USD then it was still 6.5k USD. Some FUD associated with Tether made the traders sell their tether and buy bitcoin with it. While USD/BTC markets remained stable.

Added on top of this some panic buyers bought some coins causing secondary spikes.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×