►Clip taken from Digital Asset News Channel –
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► DESCRIPTION: We look at that and an update to the TETHER lawsuit
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5774
Summarize this content to 100 words [matched_content]
#Tether #Lawsuit #UPDATE
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23 Comments
flare9x
<During the initial sell-off on May 19, a single candlewick on Tron dropped as low as $0.050- a level last seen in March. Even though TRX rose by over 20% during the rapid buy period on May 22, failing to break above $0.0926 and 20-SMA resulted in another wave of selling pressure. The second wave was quite relentless, leading to a 30% retracement to TRX’s price of $0.064. Some sideways movement can be expected at $0.0622 support and a reversal could allow for gains till the 20-SMA. If the selling pressure is not extinguished, losses could be seen all the way towards $0.050. An ADX reading of over 60 indicated distressing market conditions. Conversely, RSI moved in the oversold region and a jump above this zone was a possibility. This would enable TRX to thin out some of its losses. As a crypto currency investor i bet you need to learn and understand when to trade or not so as not to lose your money because i have been there before and in that light there's one man I know very well Burwell Coleman that changed my life in crypto currency business. I trust him, with his accurate trade signals which I mirror copy and I have been able to grow my portfolio to a level i never imagined or i could have gotten all by myself. His an expert tr@der and f!nance journalist, you can find his courses on tradlng on the internet for free and they come in handy too while you can reach Michael on l.G (@Hackservicetech1 )for a better understanding of how to use his strategy.💯
Cryptocurrencysite.nl
Don't you get it that if 60-70% of Bitcoins are traded against artificially priced $ 1 Tethers, the price of Bitcoin will collapse? If Tether fails, 60-70% of Bitcoin's price discovery will turn out to be false. When that happens, much more will go up in smoke than Tether's 24b marketcap alone.
WBC
No way tether is only 24 billion mc. I
ZarateKid
Do anyone have an update now again? And what will happen to altcoins?
ERNESTO GARCIA
Tether lawsuit and government regulations.
Ross
Way too dismissive of the issue. You keep talking about how much you're against scams but playing down the implications of Tether being a scam. It's not only about the impact on BTC price, but on USDT token holders and the reputation of the crypto space as a whole. This is the problem with centralization and placing trust in non-transparent entities. What happened to "don't trust, verify"?
gray hughes procrastinates
Ty for the video. I do feel ur downplaying it a tad. If tether is 70% backed, 1) btc drops due to perception 2) btc drops further as the perceived worth is adjusted…there was no real pump
Also the stipulation was always 1 for 1 with Tether. Now we can let them slide with semantics? Well since we are caught we can sell btc. Uhm you were caught is what I'm hearing.
Folks this is massive.
Eulis Sanders
fact tether represented 55% of all bitcoin bought yesterday you dont think is impactful?
Moon wHale
Richard Heart is the only one that ever made me any money so what's the scam???
Moon wHale
yes bu7t what about the guys sitting out for a dip with 25,000 to a million usdt??
QuadQ
WAY underestimating the outcome, Tether is 80% of all BTC purchases
Philip Me
I'm very concerned about Tether, but that indoor pool is distractingly cool.
piere 058
Oke, so usdt is backed by btc and the higher the price of btc the more usdt can be printed. Seems like a cirkle to me… they are just pumping the market with printing usdt. Look at the correlation between the printing of usdt and the pumps in the market.
Retrograde YEO XRP
I’m patiently waiting for the huge sale that’s about to go down 💪🏼🤪
SWIGGY DUDE
What was the outcome can't seem to find anything about it???
RB Evans
What if you happens to be sitting on some USDT?
Kevin Kilpatrick
What about Tether's huge daily volumes? In the coingecko screen cap, Tether's volume is 30% higher than Bitcoin's, which I find concerning since the same screen cap shows that Tethers mcap is about 97% lower than Bitcoin's
James Bogue
Tether scam for BTC 🤣🤣🤣
Kuba
hello, when this lawsuit publication go out?
BY
Thanks for talking about this. You skipped a few steps. You can't just take out USDT and then discount btc. You are forgetting that the entire space is leveraged on USDT. Every coin is 60%+ USDT. Then some coins buy other coins, which are also on USDT60%+. Then think about defi coins, which is repacked and counted as if it's separated…oh…that new coin is 60%+.
Ryan Marks
They 100% do NOT have the $ backing it.
A Hammer
BSV is the original bitcoin, it is the only one that functions as instant low low fee peer to peer cash. Btc is controlled by big banks to steal your money and not function. Even with all the craze, Amazon doesn't except BTC.. That should tell you something.
ORANGEDRONE
You don’t think there would be any damage to the reputation of the crypto market?