wry Posted July 8, 2018 #1 Posted July 8, 2018 Okay, this one is for the more serious traders and thinkers out there. I read about this academic paper that basically attributed the large rise in Bitcoin's price last December to the influx of Tether into the crypto world. I was quite dubious so I checked it out. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3195066&mod=article_inline Having now read the paper it seems somewhat persuasive. However, I think it makes at least one mistake, as it is possible to convert your Tether back into USD, though apparently that functionality is currently down. The basic argument is that Tether as an altcoin with a stable value allowed the Tether founders to act to inflate and stabalize the Bitcoin price. While any altcoin founder can try and trade their coins for BTC since Tether was fixed it would not drop like a normal alt coin would. Anyway, it engages in some interesting mental gymnastics but I could not easily dismiss it other than the conversion issue.
Kate Posted July 8, 2018 #2 Posted July 8, 2018 Umm i dont think so its because of theter i guess its just because of the market and buyers and sellers
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