Post
Topic
Board Bitcoin Discussion
Re: Bitcoin - the future stable coin
by
kryptqnick
on 11/11/2018, 21:18:07 UTC
~ 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth,
there was no bitcoin price increase! you were mistakenly looking at Tether/Btc and thought that is bitcoin price. instead you should have checked USD/bitcoin to see the price did not change.
Well, actually, I believe there was. What the op is talking about can be explicitly seen on the charts on coinmarketcap. The ethereum's grows was less significant but an unnatural as that of bitcoin. Talking about bitcoin, it went from $6300 to almost $7k, which is a 10% growth. Nobody would care and pay attention if it didn't happen in about 5-6 hours and then went down to $6600 in two hours. This place on the chart looks pretty much like a stright line up and half way down even at a scale that displays only a week of price dynamics. I didn't know the reason it happened and I still don't understand what Tether has to do about it, but coinmarketcap chart bitcoin/usd does confirm the op's words.