Tether is being used as a fractional reserve scam to prop up the price of bitcoin.
If tether collapses, then all of the fake money propping up bitcoin also collapses, causing a price drop to $400 or below.
(Price before Tether started manipulating the bitcoin price.)
Could you elaborate how Tether prop up the price of BTC? And what do you mean by "price before Tether started manupulating the bitcoin price"?
Thanks to all your guys' inputs - very interesting.