Another thing that could make Bitcoin crash even more...

If any of you know what Tether is ... the uncertainty here is now intensifying. Coupled with the banks banning crypto purchases with credit cards, this could be very damaging to the Bitcoin price. Tether is a crypto token that is used to cash in and out of bitcoin quickly, and it's ostensibly pegged to the dollar and said to be backed by real dollar reserves floating around somewhere. But no one knows if the reserves actually exist ...

Interesting story here: 

https://qz.com/1196866/bitcoin-prices-could-be-40-lower-because-tether-propped-it-up/

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The complexity of this all for anyone who's not a crypto nerd makes it all almost inaccessible, but my weak understanding is that if they didn't have Tether, Bitcoin would be worth a lot less (this story you posted says under $5,000), presumably because Tether allows the faster in-out transactions. So if you take that away ... you take a lot of trading away. Make sense?

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Yeah, that's why I wouldn't touch any of these crypto exchanges. That's where things go bad. Great article on ZeroHedge about the exchanges, noted that they are "still the Achilles Heel of all this. These are the choke points for getting into or out of the crypto space and over the last stage of the blow-off they did not fare well. Freezes on new accounts were one thing, but freezes on withdrawals are another and there have been rumours that some exchanges were using new deposits to cover withdrawals." 

https://www.zerohedge.com/news/2018-02-03/welcome-bitcoins-trough-disillusionment

 

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