After yesterday's pumps of bitcoin, everything gradually returns to its place - the players do not yet believe in further growth.
Against the background of a long fall in the market, another not very positive news came from England: “Barclays postponed the launch of a cryptocurrency trading platform until better times. Barclays, the largest UK investment bank, froze a project to launch a cryptocurrency trading desk amid a prolonged bear market, which weakened the interest of customers and investors in the new asset class.” No case, no trial.
In general, recent events make Bitcoin mathematics not very convenient. If the real price to the dollar at Coinbase is now $ 6,420 (you must admit, they didn’t grow much), then on the same Bitfinex cue ball costs $ 6,698 USDT. Let's add here some more new stablecoins, which are also traded with some difference to the dollar, and we get a total confusion.
By the way, another very interesting event happened - a strong dump of Tether (USDT), for example, on the Poloniex exchange, its course to another stablecoin, USDC, at the time fell almost 2 times. What was the reason?
And the fact is that against the background of yesterday's pump, it all looks like a well-planned scenario. See for yourself: the news about the financial problems of Noble Bank in early November, then Bitfinex suspended the withdrawal of Fiat, then there was news that Tether scam and will be delisting it with Binance, then pump Bitcoin and dump USDT. After that, there is official information from Binance, Bitfinex, and everyone quietly calms down = profit. That was such a funny story.
What conclusion can be made from this? Too rough game Bitfinex has led to the fact that now the price of Bitcoin on different exchanges is different in one direction or another. Bitfinex itself, along with its Tether coin, one way or another will suffer a reputational loss in the crypto community, which could result in investors and traders going out of the USDT and switching to other stablecoins. And the faster this process takes place, the better for the entire market. Of course, price manipulations will not go anywhere, but they will become costlier and riskier.
What about “to the moon”? For now there will be no “to the moon”. Now that the dust has more or less subsided, you can look at the graph on the same Coinbase or Bitmex:
There was no breakdown of a large triangle, we still remain inside in the range of $ 6,000 - $ 6,800, and the outset can calmly continue until mid-November.