Not sure why everone is fleeing USDT right now however.
It doesn't look like it's fully backed anymore. It's trading at $0.96 a piece at the moment, according to CoinMarketCap.
Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.
What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?
Bitcoin is probably being used to turn USDT into actual USD in the absence of USDT-USD pairs. (USDT -> BTC -> USD)
If this Tether slide continues, Bitcoin is probably going to be even more volatile.