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Main reason it does is people afraid Tether is about to collapse, so everyone fleeing into Bitcoin from Tether. Arbitrage bots pick that up and drive prices on
by coolspot 8y ago
Main reason it does is people afraid Tether is about to collapse, so everyone fleeing into Bitcoin from Tether.
Arbitrage bots pick that up and drive prices on real USD exchanges, also triggering “short squeeze”.
Downturn is expected when these money will flow from Bitcoin into real USD.