USTUSD trade ideas
USDT: Is the game of musical chairs finally over?When the US Government cut off Bitfinex & Tether's banking in April 2017, the USDT peg slippped, The USDT:USD pair on Kraken dipped down to $0.89. Then Bitfinex announced that at their exchange, that going forwarrd 1 USD == 1 USDT - that the two would be completely interchangeable for users with KYC'ed accounts. Since then, Bitfinex has been the linchpin maintaining USDT's peg.
Unfortunately, yet another round of banking issues (there are both users who have made fiat withdrawals and deposits who have been waiting as long as 6 weeks with no update as to the whereabouts of their money), has caused the peg to fail again.
The market has been valuing USDT in the range of $0.95-0.98 for a few days. Now it is dropping, as people are starting to see the writing on the wall, starting to pull funds out of Bitfinex. Since there are no fiat withdrawal, this means buying crypto with their USDT which they can then move (and probably sell) at a different exchange. Last night the gap in BTC price between Bitfinex and Gdax was briefly greater than $1000. At the same time USDT dipped to $0.75 on Kraken.
To add to the FUD, Kucoin suspended USDT deposits and withdrawals last night.
I expect there will be panic as people realize there isn't remotely enough liquidity for everyone holding USDT to get out of it.
About two hours until the eastern seaboard of the USA wakes up. How will they react to the mess that has developed overnight? If negatively, then this will probably be the straw that breaks the camel's back, sending BTC to new lows.
What do you think?
Don't Trust TetherUSDT crashed to $0.85 this morning and has since recovered to $0.93. This illustrates concerns that USDT is not as safe a haven as it is intended to be. Even if price becomes stable at 1 USD again I would advise against using USDT in favour of TUSD or another alternative stablecoin.
It is still a real possibility that Tether/Bitfinex are engaging in foul play. We'll see if anything comes of this.
Is Tether going to implode to it's competitors? No one knows how tether really backs up their USD. If they use actual USD they're at the mercy of legacy banks that can shut them down and if they use BTC or others assets to back up tether then they are at the mercy of the markets and the prices of their assets. Tethering ain't ezpz.. Now big boy goldman sachs has entered the stable Ecoin (Evil coin) game giving tether some competition. The chart shows that the tether drama arose shortly after the introduction of USDC. Some bigger players probably sold their Tether for USDC and bitfinex et al couldn't keep the peg without selling too much of their assets such as btc.
Tether discount creating artificial premium between USDT & USDTether's current trading value against USD has created a huge spread between USDT and USD traded pairs. A possible reason is tether's long-standing lack of transparency or the perceived safer stable coin competitors. @AureliusBTC on Twitter noticed the gap on multiple spot exchanges using USDT vs. BitMEX long before I did, and linked this article about possible risk that USDT has on the cryptospace:
medium.com
Here's a CCN article about regulated stablecoins vs. tether:
www.ccn.com
Trusting financial giants with your money is the antithesis of bitcoin but it looks like a necessity to bring new investors to lose their money to trading bots and FUD.
TrueUSD vs. USDT
TrueUSD vs. USDT in bitcoin pairing
BULL RUN FROM - USDT - PART 1 => 236% PROFIT/2017Hello Followers,
There is a very interesting fact going on that could be an indicator of a Bull Run.
If history is about to repeat itself, market could be close to a big move up. Last time this move happened later on there was a huge profit of 236%. Incredible.
This is part 1, I will post later Part 2.
Very significant correlation between USDT/USD and BTC/USD.
We are posting it here because big drops on USDT started.
Check next chart.
Always good to give information to my followers.
Thank you for Trusting and Following.
Follow Us on website and social media, and don't miss any update.
USDTUSD: predicting BTC bottom and next high with Tether?So I had to trade a lot of Tether for USD today...
Tether's pattern is basically a 5-point consolidation pattern (purple) followed by an S-curve dip and and peak (magenta). The dips correspond with BTC crashes in 16 July 2017 and 2 February 2018. The July 2017 point corresponds exactly with the bottom of that BTC crash. The February Tether dip is very close to the alleged February 2018 bottom. Is this an indication that we have actually reached the bottom of this dip? Maybe, so long as this USDT-BTC correspondence holds.
Next notice that the emergence of Tether from the bearish Ichimoku cloud last year occurs on the exact same day as the proceeding All Time High on 1 September 2017. Interesting for us because, if Tether continues along this pattern, we are due to emerge from the bearish cloud on 26 February this month!
Is this a new All Time High??? Or just a failed high? Or just a random coincidence?
Another question: why is cloud at this breakout point so thin! This time the bearish Ichimoku cloud is all but a slither. Why and what does this mean? In general thinness of the cloud means low volatility in the preceding period, which in turn means that the current price action is changing at a very regular pace (not surprising if the BTC rebound is being pumped by whales lol).
Three scenarios:
Breakout : YES! We break out moon big time, everyone gets lambos yeah, so happy, really
Fakeout : HAHAHA lol Tether price drops again and goes under the cloud, because naughty whales are not as clever as they think they are and we just don't have the kind of support to get us there, (because secretly we all know this crypto speculation is a massive Ponzi) and the next All Timer turns out to be a failed high.
Neither : this idea is simply wrong.
Let's see. I'm long anyway.
Classic ArbitrageBuy below 1, Sell above 1. Easy money unless tether becomes a fractional reserve system. There have been conspiracy theories going around that the amount of dollars doesn't match the tether amount, but until we get some more news about that arbitrage still stands.
Tether buy if it drops below $1Buy below $1, sell at $1. Making money never became that easy before, thanks to crypto.
USDTUSD bumpy - CBOE VIXUSD / USDT is strict, collapse is soon, we will see after the US 10 yr return though.
USDT/USD Dump Correlated To Bitfinex Premium Over GDAXUSDT/USD Dump Correlated To Bitfinex Premium Over GDAX
Beginning of the End of Tether?Tether's value is only equal to the actual US dollars they have in the bank. Does anyone really believe they have US$2.25B sitting in some bank? No auditor believes this as their latest "auditor" just denounced involvement.
Make sure to run your charts with USD and not USDT to get true value. Find a way to convert money on the sidelines to real fiat.
$USDT Anyone Holding This Needs To Do Some Homework NOW!!!#USDT just lost it's auditor - we called this a time fuse name and we got hate mail
USDT a sleeping giant? Great profits up to 12%So I’m not a huge fan of Tether, but it's what the market thinks. USDT is constantly within the top 30 on coinmarketcap. It’s backed by Bitfinex, one of the largest exchange. Millions are put in on a weekly basis.
On top of that, Tether is the only fake coin out there in the top 100 coinmarketcap. It has a monopoly on scams. No threats, that's huge!
it’s been consolidating nicely since the first day, but I think we can expect a breakout soon.
I’m setting the buy zone at around 0.980 levels. Targets can be set to
1.02
1.0275
1.0475
1.1 (yes I’m a bit optimistic about this one, but why not! It’s the only big scam coin out there).
US Dollar Tether disbalance-BTC FACTORY SETTINGS MARKET RESETUSDT has enourmous value which means some of the prices arent sustainable, because of upcoming btc Chickago event.
I personally think that this btc price range wont be sustainable even if wales and sharks are flashing market trading on high levels betweenthemselves and creating prices which enables them to reset altcoins even if not making money on btc.
Those alt prices we saw and all those enourmous uptrends which will be corrected to previous prices and they will probably drop even more then previous values before this uptrends.
Also possible scenario is that wales n sharks are buyin' alts, artificialy increacing prices and trading, making real money there, while trying to slow btc downtrend which is inevadable.
I would not suggest buying anything else on these price levels but it will dump as prices drop.
Marketcap has over 500 billion so far and tether at this point costs 1.09$
USDT/USD * Currently moving sideways * Breakout soon ? It had to be done . Swing trading opportunity of a lifetime here . POLONIEX:USDTUSD
Man with the sauce
I have , on good council . Information that Tether will continue this on in this channel and continue to bounce between the trend lines for a while before breaking out to $1.04 , resulting in a dip down to about $0.90 .
This is also dependent on whether or not people decide to dump their Bitcoin for Tether because of Tether FUD , again .
This is crypto and anything is possible .
If you are holding Tether with the hope of it taking off . Good luck .
*Disclaimer*
* I hold no Tether . This chart was just for fun and if you believe Tether is going to the moon then I would suggest that you exit all the crypto markets .*
