$11,700 was breached for a split second before sliding down a little again

F

KEK you're gonna get rekt soon little bitch

F

sure it is

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im a brainlet. but coudlnt this larpping faggot just close this bid right before it hits $20364? its still a long way to go.

Did someone say if I sold now I can triple my stack Ina couple months???

Count me in

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I thought it was 8500. Are you just saying that bullshit because we are close to break 11700?

$8500 was also a technical resistance. High VPVR at 11,700 then nothing till 20k.

$20364 will be his margin call (15~% left)

Only non-brainlet here, 11.7-12k is the major makeorbreak. If we go past 12k, were gonna test 20k.

We are off the right end of thisngrpah. We are past the return to mean.

You have to look at the chart that shows 2-3 past years. After 20k popped and fell, the 11,700-12,000 was tested 3 times.

you gonna get rekt son
you're fighting the ocean, they can just print USDT and pump the price forever

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After $20k sell of low hit $6,000, then three weekly highs:
11,786
11,565
11,701

It’s a major resistance if you believe in technical analysis.

So what exactly is the relationship between this tether coin and bitcoin? Isn’t tether a scam coin?

you seriously don't know what USDT is ?

I only know 1 USDT is supposed to equal $1. And they are accused of ‘minting’ coins that aren’t backed to exchange for BTC.

If you can’t prove it’s backed by USD why do exchanges accept it and hold it? Seems risky?

Sounds like it presents a major risk to bitcoin and confidence in bitcoin if tether is a fraud but buying bitcoin.

ethereumworldnews.com/is-btc-being-manipulated-tether-accused-of-minting-millions-of-dollars-in-unbacked-usdt-to-artificially-pump-btc

Imagine thinking I was larping

Kys poorfag

>Sounds like it presents a major risk to bitcoin and confidence in bitcoin if tether is a fraud but buying bitcoin.
you don't say ...

So basically Tether is a coin that is supposed to equal $1 USD on its exchange. They print more Tether when the price of BTC to USD goes up because they have more "value" of USD on their exchange they need to "back" with Tether.

Say you have a deposit of $100 in speculative assets on an exchange. That is backed with $100 in Tether, which is supposedly backed with $100 in USD. But what they're accused of is backing, say, 30 Tether with $1 worth of the same speculative asset you are invested in instead of $USD. The idea is that you're supposed to be able to cover all transactions on the exchange with just Tether and USD so there is no chance of people being wiped out if the market crashes.

from what I understand the same people who are at the top of Tether are at the top of a variety of different crypto exchanges (including bitfinex). According to them, each tether token is backed by real money - but in theory they could just print a fuckload of tokens, say they're all backed by fiat, and then buy a bunch of btc using those tokens that may or may not actually have value.

I'm sure I'm fucking up some portion of that but yea, it's not a good system

yeah it's pretty much it

pic related is the relation between USDT market cap ( blue ) and the total crypto market cap
USDT variation have a delayed impact on the crypto MC but the relation is pretty clear

if you want to read the full page tradingview.com/chart/USDT/fHQGjpgT-R-I-P-TA/

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fucking saved

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How can we stop them? Because while I am bullish on Bitcoin and really do think crypto will be necessary in our world in just a few years to avoid omnipresent surveillance, this sort of shit kills confidence in the market. It's worse than the wildcat banks of the 1820s.

11888 now

they are being judge next month for this reason
if they are proven guilty the whole market will crash, not forever but still
if they are innocent then god help us

i'm luckily to have a euro coinbase account so I'll be putting super low bids, because if peoples need to cash out fast some whale might just dump all it's coin and clean the small order book on the euro pair