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Nobody “keeps” tether. Other than for having liquidity readily available. Your stance on Bitcoin is uncritically over optimistic, but if we stay in the confines
by josefrichter 5y ago
Nobody “keeps” tether. Other than for having liquidity readily available. Your stance on Bitcoin is uncritically over optimistic, but if we stay in the confines of this topic, a tether crash would most likely make a significant dent on BTC. How big and how long would it take to recover, that’s a question. Might be days, might be years.
- kebman 5y agoPlease allow me to illustrate: Tether is used to buy Bitcoin and other cryptos. As you correctly observed. But: Tether ≠ Bitcoin. Tether FUD = get rid of Tether. The only thing that could dent Bitcoin, as in making it dip, would be if potential buyers withdrew Tether instead of doing the logical thing, which is to buy Bitcoin. The most likely outcome is that the “dent” results in a blow off top scenario, meaning that price would surge before a sell-off. As for “over optimistic;” people have been saying that since Bitcoin was a dollar, and possibly before that too.