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Kate

Tether drops !!

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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/

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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 

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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 :)

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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

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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.

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