Could the tether fiasco actually be good for BTC?

15 paź 2018

We are seeing BTC on Binance correcting down from 6800 in the direction of the official 6400 USD price.

But if USDT stabilises could we see the prices in "more official" markets dragged above the line due to cross exchange arbitrage, or is there actually no reason why the markets need to meet in the middle? After all Bitmex has been trading at an offset below the Chinese exchanges for a while now.

15 paź 2018

Uwaga

It is of course, possible that the laser spike on Binance was just a bear-trap that got out of hand on the back of the tether sell off. So I would still be wary of the possibility that we could see a similar spike down. There is probably a new pool of stop losses forming below 6400, as more people place optimistic longs.

16 paź 2018

Uwaga

This idea is not panning out too badly so far... TUSD is down to 1.05 while BTCUSDT has remained fairly stable at 6750 on Binance I'm still not sure which way things will go, but something might give as cross currency and cross exchange arbitrage becomes profitable for regular speculators. I have seen very few cases of of soft crossing across major resistance levels, so if we move up even a little bit this could break hard either way.