After a relatively quiet weekend the crypto market witnessed a massive shakeup last night .
Tether saw a dump last night and dipped as far as $.80 with Bitfinex printing a high of $7788, a whopping $1000 premium above any other normal fiat exchange.
So why did Tether actually dump!?
Numerour factors could be at play here play...
Something really bad could be happening with $USDT and this is insider trading.
Perhaps larger Bitfinex whales just decided to unload their $USDT back into the market because they think the bottom is in.
However if you cut out the noise, and dont try and fit narratives to anything, all we are seeing right now is a massive pump with great volume and $USDT is losing value as countless people panic FOMO back into $BTC and the crypto market.
$USDT though will most likely regain its stability, but short term will see some swings.
Also be aware that there is a fake Binance email going around saying that they are delisting Tether and it's a scam.It has been confirmed with Binance that the email is FAKE. If you see it, don't click on any links.
Lastly, based on the ALT coin marketcap analysis in previous posts , if this continues to play out as an inverse head & shoulders as we've predicted, the market will probably have a really great next month or so.![]
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