So if Tether busts, you know what will happen? People will start to sell BTC and Alts for USDT and wait out the volatility... . I am 100% sure the majority will do this, because those smart enough, dont use Tether.
But the interesting part will be what is going to happen next, if they realize that not BTC is dropping, but their USDT to USD value.
I hope it wont be that big of a deal, as it potentially only removes about 2 Billion Dollars from the market, which isnt that much, if you look at the whole market. However if it takes Bitfinex with it down, that will be another story...
RE: The MASSIVE Tether Ticking Time BOMB
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The MASSIVE Tether Ticking Time BOMB
Well, 2 billion dollars may be more than you think...
https://crypto.bi/tape/blog/market-caps/
https://hackernoon.com/why-market-capitalization-isnt-a-good-metric-for-cryptocurrencies-36a134e074f7
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It is 2 billion not available to buy up the dip, those 2 billion are gone. So yes, it probably will drop deeper than usually and not bounce back too hard. But if it drops deep, it will be bought up by institutional real fiat money anyway and not by some 18 year old crypto kiddie who put his money into Tether.
Smart money doesnt use Tether...
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