Also, how does Tether survive? Is it centralized and managed by a small group of people?
That would be Bitfinex. It's astounding that either are still going based on how
shambolic their business has been so far.
They are starting to create FUD so we can see the bear market again, but I don’t think Bitcoin will collapse just because of Tether, so far it is still stable and on a good position. There’s a lot of good options though that is already available in the market, we might see some correction if Tether collapse but the whole market will survive and that’s for sure because Bitcoin didn’t depend on Tether.
Exactly! I don't know why this JPMorgan is being so pessimistic with bitcoin? Bitcoin exists even without Tether. So why would it collapse if tether collapses? Maybe, he is just spreading fud for those ignorant users. But for crypto users, they are being hypocrite. Now, they can see that bitcoin will not crash as what they want. And instead, a lot of top companies are going into crypto, which they don't want to.