I have been following all the “fud” around tether for awhile now, it seems to me the speculation has caught up with the price action. Any bad news in this current broken market sends bitcoin into a down spin, yet it was news about tether that caused price action in bitcoin?
The value of Bitcoin once again dropped below the $10,000 mark Tuesday after new that the United States Commodity Futures Trading Commission (CFTC) sent subpoenas to cryptocurrency exchange Bitfinex and cryptocurrency Tether.
The subpoenas were sent on Dec. 6, 2017 but were just made public by Bloomberg Tuesday morning. Bitcoin, which had been hovering around $11,000, dropped to below $10,000 for the first time in several weeks. After several hours the price did break the $10K mark again. As of 4 p.m. EST the price of bitcoin today is $10,045.
Full article here http://www.ibtimes.com/bitcoin-price-drops-below-10000-bitfinex-tether-get-subpoenaed-2647425?amp=1
So I ask,
What are your thoughts on the price action between the two?
What will happen to Bitfinex being so closely linked to tether?
How will this effect the market after the initial wave of panic settles?
What are ones thoughts on Bitshares?
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