Blockchain Whispers Official Statement, Tether Faces More Troubles as Top Crypto Drops in Market Price
The market today presents a mixed outlook with a slow movement in price and low-level activity.
The leading Top 10 cryptocurrencies have recorded mixed fortunes with 1 to 3 percent drop in market price.
The main driver of the bear run today is likely Tether with the huge pile of negative press it has attracted all-week. Tether is in danger. Tether being in danger could be dangerous for the entire market.
There has been the dogging controversy of price manipulation that has followed Tether for some time and it is not going away.
The Domino Effect
In a season when it seems something bright on the horizon could appear with the impending SEC decision on Bitcoin ETFs, Tether worries are a dampener.
Since bad news sells fast, there is an overhang of doubts in the crypto market that could lead to another round of sell-offs.
Market Movement Updates
As at press time, the Top 10 cryptocurrencies have all witnessed losses of 1 to 3 percent with only USDT recording a marginal increase. Although USDT still trades at sub-par at under $1, it has risen by the bits.
The overall market sentiment at present will be more of wariness than optimism as market actors will look to see how the USDT troubles play out.
On the whole, the market scenery is not overall negative as the crypto bourses across the globe have seen worse days in the last 12 months.
For traders, it might as well be the right time to cut possible losses and avoid panicky sell-offs unless for those in leveraged trading positions. Credit losses can soar beyond redemption when the market falls flat.
For now, no reason seems to appear on the outlook to suggest that the crypto market will not weather the storm. Tether might yet survive the present scare, and if it does, it will be another close miss!
Blockchain Whispers recommend if you are in crypto with borrowed money, to ask yourself if you can hold for a long time, if not… you know what is the right thing to do… this is volatile, coinbase vs binance difference is $600+
It’s not a secret.
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