It is hard to tell when the market will recover, today's prices dropped by a lot due to Bitfinex, Tether Subpoena basically they're being investigated. That is why we started seeing a little green up until yesterday now we're back on red thanks to this.
BTC could drop to 8k or could rise back up to the 1500's who knows but if more shit like this keeps going on we won't be having a stable market for a while, I'm kind of glad this is going on we need to get rid of fraudulent tokens and sites. But it is really unfortunate that people keep losing these amounts of money. I made a post on my group a while back stating why I think Bitfinex and Tether are scams. I will leave more info on this below.
For anyone interested in the actual listing: https://opencorpdata.com/sg/201408107Z
They have such a huge volume it will definitely impact the markets like it did today.
Exit scam? Who knows. But allow me to suggest if you have any funds there it might be a good time to move them and get rid of any USDT while you're at it.
Now what happened today was this:
Newsflash: Bitcoin Price Falls Under $10,000 After Bitfinex, Tether Subpoena
“US regulators’ scrutiny into Bitfinex, one of the world’s largest cryptocurrency, over its dollar-pegged digital token Tether has sent bitcoin sinking below $10,000.
Bloomberg is reporting that the US Commodities Futures Trading Commission (CFTC) has sent subpoenas to Bitfinex and Tether, the firm behind a namesake digital token that is directly pegged to the value of a US dollar and is used for widely used for trading among exchanges globally. While Tether says its $2.3 billion in tokens are backed by USD reserves, the CFTC and Tether’s skeptics have questioned that very claim.
In a statement to Bloomberg, Bitfinex and Tether did not discredit news of the subpoena, stating:
We routinely receive legal process from law enforcement agents and regulators conducting investigations. It is our policy not to comment on any such requests.
The subsequent reaction in Bitfinex’s own trading markets has seen bitcoin price fall to a 13-day low of $9,900. At press time, price is back up above $10,100.“
https://www.ccn.com/newsflash-bitcoin-price-falls-10000-bitfinex-tether-subpoena/
Now again why is this going on? Well is up to you to decide if you want to keep supporting frauds like this frauds like, Youtubes Trevon James, Crypto nick, Craig Grant ETC (all pumping Bitconnect and we know what was the end result)
That's why diversification is essential ;)
If you look at the bright side is a perfect time to go shopping for that coin you have been following lately.
Anyway this is it for this post, please be careful with your money and don't put money on something you don't know.
What are you opinions on this please share and comment I will be reading all the comments and replying.
Please #follow me as I actually try to make HQ post and not shitty opinions like everyone else. Thanks!
-Mau