/biz/ - Business & Finance

>>14280517
It's all boosted by fake money, aka Tether.

>>14170366
I hear you. But because Binance is one of the largest holders of Tether, and now they're having to ban US users because of the new policy on alt coins, I figured that it looks more risky to invest now than it did before. You're right about US currency though. Although you can't really compare the two, because Tether isn't what's funding an army of Mutts and isn't currently being used as currency to finance international wars for said country here (>>14170323).

>>14170383
It may go up that high. And good for other anons who are staying in the market if it does, just don't buy ATH, anons.

>>14168234
The poof millions of tethers into existence out of nothing, say its backed by fiat USD (which is hilarious because tether is banned in the USA but they’re apparently primarily backed by USD) and people trade their BTC for it because they think tether is backed by USD. The point is tether isnt backed up by USD, its backed up by BTC. To get back to a 1:1 USD backing these criminals use all their tether poofs to buy up BTC, rising the price of BTC superficially so they can recoup losses and get back to 1:1. Without fake tether poof buys BTC drops off a cliff and so does tethers “cash equivalents” because their cash equivalents are BTC. Everyone will panic trades their tethers into fiat, but bitfinex doesnt have the USD to pay everyone out.
Explain to me how tether poofs 2.5 billion into existence in a fucking bear market after everyone lost 85%+ and we’re not even 50% of ATH.
The absolute state of /biz/

>>13607626
>>13607639
>YEAH TETHER “FUD” IS ABSOLUTELY BULLISH!