This kind of intervention is usual for fiat government.
Unfortunately crypto markt seems developing himself into Bubble BIG BUBBLE that will blast evaporating billions of dollars.
This is too risky and I am going to quit all Crypto even taking into account possible lose.
The rest 60 million is still on way and most possibly will be pumped in if price will fall below 11 000 or they will HODL for the worst case - price below 10 000.
I think this time they will lose
We will hear something how the regulation would be during 23-26 January in World economic forum in Davos.
Till that there will be only sales as of nobody expects that goverments would give up their crypto called fiat and start supporting cryptos
said another way - they went into USDT to try to reduce risk but then they felt more comfortable going back into BTC at those exact moments , no?
what am i missing here? thanks !
it will have zero selling pressure when it occurs, the same as bitconnect.
the value has already been stolen the minute you agree to take your BTC in the form of tether (promissory crypto).
nothing is ultimately tied to tether except the promise of your wealth in USD, not your wealth in BTC.
remember that it is only one fiat tether and most of the trading takes place in other currencies.
do not trust tether to store your wealth.
Biggest exchanges like
trade only in USDT agains other cryptos.
If one need to sell at time of crisis they can only do that in tethet.
So the 100 millions pumped into market are used to buy all FOMO Sells during crisis, like we can see on chart, the points are approximate timepoint when the new 100 million 50 millon dollar injections happend.
And scarying thing is that 1 billion of current supply 1,6 billion tether are issued during last month.
The big Bang will most possibly happen during next month