BTC will struggle to be a stable store of value until its association with shitcoins ends. Take Tether for example:
- Thether accounts for 60% of BTC transactions
- Tether has been printing dollars out of thin air
- When Tether runs out of money the coin will lose the peg and all hell breaks loose
- There are rumours of people using offshore Tether exchanges to 10x leverage BTC speculation.
Bottom Line: Tether inflates BTC prices and has been this whole time. Tether has never shown it has the USD reserves to back its dollar peg and has printed billions of Tether "dollars". The people behind Tether are about as sketchy as it gets. When Tether goes, so will the BTC bottom. See also:
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