Bitcoin Today: Tether in trouble?
Price
The movement proceeds inside the established boundaries, narrowing diapason between the Bullish Trend Line and 6660 resistance. The market does not expect any significant events, so, volatility stays low and lateral movement will probably remain. And, as usual, unplanned news are likely to be negative, hence, BTC position looks vulnerable right now. According to the latest news, Tether is facing new trust issue, one should keep an eye on how they will handle the situation, especially in a view of increasing popularity of making own stable coins among exchanges.
Today forecast
Trading in the 6400 - 6800 zone. Possible downward impulses.
Latest news
The movement proceeds inside the established boundaries, narrowing diapason between the Bullish Trend Line and 6660 resistance. The market does not expect any significant events, so, volatility stays low and lateral movement will probably remain. And, as usual, unplanned news are likely to be negative, hence, BTC position looks vulnerable right now. According to the latest news, Tether is facing new trust issue, one should keep an eye on how they will handle the situation, especially in a view of increasing popularity of making own stable coins among exchanges.
Today forecast
Trading in the 6400 - 6800 zone. Possible downward impulses.
Latest news
- One of the Tether servicing banks are under the threat of closure
The Puerto Rico bank, Noble Bank, presumably servicing the accounts of Tether Ltd and Bitfinex, is facing with a lack of financing due to stagnation in the cryptocurrency market. This is reported by Modern Consensus with reference to its own sources.
In the hope of stabilizing the situation and getting financial support, representatives of Noble Bank contacted one of the major "holders" of Tether, but yet there was no response.
As Modern Consensus writes, if within a few days the bank's management does not find a way out of the situation, Noble Bank threatens to close.
Tether Ltd. may also face other problems. It was reported that recently some owner of USDT was unable to find a buyer for some a huge amount "tens of millions of tokens".
Let's note that last year the American bank Wells Fargo without any explanations has suspended service of Tether accounts.
Previously well-known trader and analyst Ton Weis already was predicting the disappearance of USDT stablecoin and his opinion is not exclusive. Nonetheless, Tether still stays one of the main entry points in the crypto world and till this point its team managed to handle well all similar accusations.
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