Tethers
BTC/USDT price divergence between Bitfinex and BitstampWhy do we chart? If it's as easy as just drawing lines and following trends, we'd all be rich but it's not as easy as that. Bluntly, we chart in the hope of catching information betrayed by the actions of others on the market. If someone get's information to act, then their actions on a large enough scale leave a mark on the market which the rest of us then hope to catch and follow in the hopes of a profit.
The chart speaks for itself in that regard, someone acting on information unique to them decided that BTC was worth every tether they could dispose of.
You don't need to be a follower of the tether fud to read a chart, in fact, that is why we chart in the first place. Someone with a lot of btc doesn't like tether any more, and they know more than you do. Act accordingly.
BTC Cryptocrash and how to profit from itCash hedge, liquidation 25k, keep scaling in from small to high price and let it ride to the ground. The higher the price, the bigger the profit, keep adding positions and cash hedge when need to, preferably futures over swaps.
Regulations coming faster than anybody thinks, goxed bagholders wanting to gtfo at best price possible, especially before end of year for taxes before new taxlaw is passed in Europe.
Crackdown on a) exchanges and b) manipulators (individuals/groups) in the West & East are expected, tether and finex court case still ongoing, asset forfeitures market sold, strict Korean regulation in the making (I don't see Bithumb (with their free fee and rebate structure, with their bots, washtrading and moneylaundering) last, at all) and I could go on and on and on.
No new money coming in, market is contracting (fiat going out), yet this f#cking tethers keep coming back in the market. Complete unsustainable and fake shitshow.
Run or cry later. Accumulate bitcoin, sell all shitcoin (like previous 3 bubbles, they go back to -98% at best and -99.9% at worst from ath).
Contrary to what people believe, regulations will cause the greatest bullrun ever, after manipulators have capitulated and market dumped their bags. You cannot compete vs the central banking system played by Wallstreet, competitors are eliminated by any means.
Play the game or be played.
Tether Printing and Bitcoin PriceOn Friday May 18 2018, Tether printed another 250 million tokens, bringing the total supply to about 2.5 billion USDT. The last print was for 300 million tokens on March 20 2018. And the previous before that was for 100 million USDT on January 23 2018.
It is no secret how Tether and Bitfinex are intertwined, as a simple search will reveal those involved with them. It is also no secret that there is a lot of distrust in whether USDT is in fact backed by United States Dollars on a 1:1 ratio, the market currently values it as such.
Another concern about USDT is the ability to influence the overall crypto market one way or another. 300 million or even 100 million dollars worth of orders strategically placed on a single exchange, like Bitfinex, can literally move the market. You can read more about this at procinctu.info
As for the chart, I just wanted to show the price of Bitcoin in correlation with the printing of Tethers. I used Kraken instead of Bitfinex on purpose, to make the data independent. The thicker lines show larger prints, the thinner lines show smaller prints. Also, this is on a daily chart, so it does not include volume spikes and movement on a smaller time frame, which probably would be more beneficial. But this is just to show in general the Bitcoin price and Tether printing alongside each other.
You can track the Tether printing for yourself at omniexplorer.info
Travis
JMJ - UIOGD
