ZENUSDTZENUSDT was trading in descending parallel channel and recently it seems like bulls are starting to take the charge and are about to breakout from descending channel with significant bullish divergence as well. Currently the price is forming a local support around 6.75 region.
Will the bulls take charge again continue for leg higher?
Tetherdollar
Tether (USDT) is becoming unstable and will likely crash to..Tether is eventually going to crack and will become depeg from the USD. When this happens - much like TerraUSD, it will lose massive amounts of marketcap and come tumbling down to pennies on the dollar. This will likely coincide with the failure/collapse of Binance.
Don't hold your buying power in USDT, USDC or any other stable coin or you could lose it in a flash!
MATICUSDTMATICUSDT recently been on nice bullish trend. Recently it broke through the major structure and now seems like it is loosing bullish momentum as the instrument already formed bearish divergence on lower time frame.
USDT Tether 82.45% of the reserves held in U.S. Treasury bonds !SIVB SVB Financial Group suffered the most severe bank run since Lehman Brothers for selling bonds at a $1.8Bil loss just to raise cash!
They had one of the worst possible yields as well: 1.79.
USDT Tether said on Dec 2nd, 2022, that its equity is expanding swiftly, with "82.45% of the reserves held in U.S. Treasury bonds and other cash equivalents."
What yield do you think Tether has?
I think we are about to witness USDT Tether`s collapse.
BTC mining in South America for Tether adds to the longAre you ready to take your mining game to the next level? Look no further than Tether's latest venture in Uruguay. With its stablecoin technology and top-notch infrastructure, Tether is poised to revolutionize the mining industry. Join us as we explore this exciting opportunity and discover how you can reap the rewards of this cutting-edge technology.
Also , Tether's recent $1B USDT mint on Ethereum is for chain swaps! This clarification comes straight from the Tether CTO, so you can rest easy knowing this is a positive development for the crypto community. For more information, check out the official statement from Tether. Happy trading!
#Stable Dominance , Dump will Continue, Here's Why!Once this pennant breaks below BTC is likely to hit $22.5k+.
Is it likely? I think Yes.
Lower support is around 4.14%
Once this level hits expect some correction in the market.
The charts show the possibility of the continuation of this uptrend.
Invalidation:- Break and close above 4.85%
Let me know what. you think.
Please hit the like button if you like it and share your views in the comment section.
Stay safe
#PEACE
What is Tether and why I am staying far away from itNow Tether is not your usual crypto currency. It’s not something you buy low and sell high.
What you’ll notice is that the price oscillates around the 1.000 mark.
It’s not your usual crypto currency. It’s what’s known as a stable coin. So its main goal is to track the US dollar’s price 1:1
And tether is not a long-term investment that will grow your money by itself because it stays pegged to the U.S. dollar.
So, investors use this crypto coin to hedge against the US dollar .
Investors use this crypto coin to gain exposure to the US dollar but in crypto form. Tether also sometimes acts as a “bridge” between the fiat and crypto world – as in people often buy stable coins to then buy other cryptos
It’s for the investors who want to invest and diversify their money in a non-government measure and to control their own finances instead of putting the money in banks.
Sounds good and safe right?
The problem is that Tether (USDT) always denies an audit.
They have also been investigated by the NY Attorney General’s office for lying about their reserves.
Also there is major volatility and uncertainty with crypto exchanges since the FTX and Alameda debacle.
Binance (One of the largest Crypto currency exchange) even paused customer deposits of stable coins USD Coin and Tether on Thursday morning without explanation.
This is not safe as a hedge in my opinion. Hence, it’s another reason to stay away from even stable coins like Tether…
I wouldn't buy Tether with a Barge Pole here's whyI absolutely agree that Tether is yet another Penny crypto that should not be touched with a 10 foot pole.
Now Tether is not your usual crypto currency. It’s not something you buy low and sell high.
Take a look at the chart before I continue.
Tether is not one I would consider buying.
What you’ll notice is that the price oscillates around the 1.000 mark.
It’s not your usual crypto currency. It’s what’s known as a stable coin. So its main goal is to track the US dollar’s price 1:1
And tether is not a long-term investment that will grow your money by itself because it stays pegged to the U.S. dollar.
So, investors use this crypto coin to hedge against the US dollar.
Investors use this crypto coin to gain exposure to the US dollar but in crypto form. Tether also sometimes acts as a “bridge” between the fiat and crypto world – as in people often buy stable coins to then buy other cryptos
It’s for the investors who want to invest and diversify their money in a non-government measure and to control their own finances instead of putting the money in banks.
Sounds good and safe right?
The problem is that Tether (USDT) always denies an audit.
They have also been investigated by the NY Attorney General’s office for lying about their reserves.
Also there is major volatility and uncertainty with crypto exchanges since the FTX and Alameda debacle.
Binance (One of the largest Crypto currency exchange) even paused customer deposits of stable coins USD Coin and Tether on Thursday morning without explanation.
This is not safe as a hedge in my opinion. Hence, it’s another reason to stay away from even stable coins like Tether…
USDT Tether is acting as depegged from USD from around 2 weIt seems interesting how USDT is acting more like traditional crypto asset now, than stablecoin.
You can clearly see trends, volume profile and price targets.
We don't want to be right about this, but if USDT is depegged from USD, that means that huge crypto crash is coming
The world’s biggest stablecoin has dropped below its $1 peg.Tether's USDT Stablecoin Slips From $1 Peg.
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USDT Dominance on Track. More Blood Ahead??Hope you followed, The market is a little red today.
Expecting more blood in the next few Days.
Opportunistic times are ahead so there's nothing to panic tbh.
The horizontal support has been respected by the index.
My plan is to accumulate BTC and some altcoins on spot.
For leverage, I will wait for the reversal in LTF.
I will keep you posted.
Also, I will post some altcoins that I am thinking of accumulating in the first 2 weeks of November.
So follow me if you haven't yet.
Stay tuned
Do hit the link button if you like these short updates.
Thank you
#PEACE
USDT Dominance at decisive point. Here's what to expect Next!!Understanding Dominance:-
USDT Dominance is inversely proportional to market movements.
If it dumps the market will pump and vice versa.
Technical Analysis:-
As we speak the dominance is approaching the resistance zone consisting of two trendlines intersecting each other.
This happens to be an important point for the market.
Remember if you zoom out, a break and close above this channel will result in more dumps in the market.
Whereas if we break the lower support, the green zone. BTC can rally towards $22k again.
Keep in mind we are stuck in the range of $18.5k to $20k.
CONCLUSION:- This last quarter is likely to be bullish IMO so sooner or later, am expecting this range to break to the downside.
Do your own research, this is not financial advice.
If you find this update helpful, Hit the like button and share your views in the comment section.
Thank you
#PEACE