Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
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My bit of conjecture. This is exactly where traders that know how to trade are building their positions.
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My bit of conjecture. This is exactly where traders that know how to trade are building their positions.
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Possible. However, Tether has closed registrations for months now. I´d argue that it is likely
that this isn´t institutional money, because an institutional investor, who decides to invest 50M $
right now would still be buying at a magnitude of the price levels a year ago. Institutional investors
are mostly conservative investors, which is understandable because most have strict investment guidelines and
are not in the business of buying things that are up more than 10x year-on-year.
Besides, I´d speculate that they would use a custodial service like the ones offered by Coinbase
or Xapo instead of using Tether as an intermediary.
In case you (or other readers of this thread) missed the link posted by nrd525 in his Market Tracker thread:
http://www.tetherreport.com/
A few really interesting observations:
Quote
Authors opinion - it is highly unlikely that Tether is growing through any organic business process,
rather that they are printing in response to market conditions.
Tether printing moves the market appreciably; 48.8% of BTCs price rise in the period studied
occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet.
rather that they are printing in response to market conditions.
Tether printing moves the market appreciably; 48.8% of BTCs price rise in the period studied
occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet.
Of course statistics can be used in a misleading way (just like quotes @TheQuin
), but thisdata supports the logarithmic chart of BTC price action to Tether issuances that I posted
a few weeks ago.