Tether doesn't exist.
USDT is video game money.
It is not even consuming cotton-paper and ink with all security that USD does (fiat).
It is backed up by probably NOTHING.
When the mass realizes that... I am afraid of how strong that dump might happen.
Currently the price difference between Bitfinex and Bitmex is $350... with Bitfinex having a higher price obviously as it wants to exchange shit tether for bitcoin.
When people realize that - the panic will start. The money will flow out through more holes than on a swiss cheese.. and where you will be?
Follow Premium for timely action on what to do to prepare for the upcoming CATASTROPHE, or at least follow this free warning to think about your positions.
The timeline on this is unknown. Yet 2 BILLION Tether printed. Exchanges might become illiquid.
First step, start trading more on exchanges that use TRUE USD or other stable coins. As true usd I mean real dollar. Although tusd is also good (not usdt!).
Plan your action.
If you don't have time for shit trading in and out, actively... I'd definitely do the following:
now the price is $5500 - I'd cash out and wait for price of 7k+ or 3k-
easily waiting in hard paper money... jerking off.. if it is going over 7k you'll have time enough to enter and participate in any bull run. If it is going below... you'll save yourself from disaster that can show us how deep the rabit hole is.
I am not happy to be famous of these accurate and timely warnings. I do have to warn though.
I am perma-bull, perma-optimistic, however realistic and responsible side of me has to tell you what I see. DYOR. Cheers!
P.S. The timing can be anything between now and next couple of months. We will probably risk and wait for our premium positions to play out properly before doing anything. However, any money that is in crypto for you more than you can afford, get it out. We will follow up on this story closely. And it is not violated regardless of even if $1,000 green dildo comes tomorrow. Majority of exchanges traded with usdt, it is a catastrophe of epic proportions, stronger thant bitcoin cash mining bs. Stay tuned...