I will resume:
It's possible that the next crisis is comming.
Always, when there is some uncertainity, the whales attack (and, sometimes, hackers too). Also, anything could happen in addition to that.
But, this things, almost everybody could expect. It will be just the ingredient to start the crisis.
The big problem could be: TETHER
- Exist only 300 millon Tether Dollars, equivalent to just 110,000+/- BTC (7a.m. GMT 07/29).
- Some of the biggests exchanges use only Tethers as Dollar value (Poloniex, Bittrex, etc.).
- A lot of people will exchange BTCs for USDT as a safe option near the 08/01.
- As I'm writing this, BTC is beginning to show a possible downtrend (just chart analysis. I hope I'm wrong).
So, if bitcoin drops, a lot of people will want to sell their bitcoins for USDT, but the USDT supply could be not enough.
The result is a BTC falling rapidly to adjust the USDT demand, and a lot of people panicking.
Just in case, a sold the half part of my Bitcoins.
What would you do? Share any opinion, below.
In my opinion bitcoin price will not wither because of tether after all, this fork will bring upon free money to bitcoin holders who held tight of their bitcoin stash because they will receive BCC which is in turn can also be exchangeable. That being said, I wont worry for now because USDT is just dollars in form of cryptocurrency, and there will be no shortage since people can just convert bitcoin straight to fiat if that happens. There might be a dump but the fall will not be to adjust to the USDT demand.