Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash

Re:Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash by sparkie on Friday November 17, 2017 @02:20PM (#15725125)

Bitcoin is not in a stable state. Price rises every time Tether decides to fabricate 20-30 million dollars they don't have, which coincidentally happens every time bitcoin starts to lose steam and the price drops a little.

> no major exchange going under

Not yet, but every exchange trading Tether will probably sink, along with the price of bitcoin, when Tether (aka Bitfinix) can no longer keep up their fraud.

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Re:Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash by ericb on Friday November 17, 2017 @05:19PM (#15726468)

I thought I saw some threads a while back saying that tethers had been audited, and the speculation that they were not actually backed wasn't true. Am I imagining that?

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Re:Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash by charlesdm on Friday November 17, 2017 @03:02PM (#15725520)

Can $20m really push up the price that much, when talking about a $125bn market cap? Seems like a pittance.

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Re:Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash by maxerickson on Friday November 17, 2017 @03:46PM (#15725822)

The market cap isn't the right benchmark, there are too many friction points in trading bitcoin for any holder to respond to any buy offer.

Ideally you'd measure the liquidity of individual markets and between them.

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Re:Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash by sparkie on Friday November 17, 2017 @03:10PM (#15725586)

It's 20m every couple of days now. over 200m printed in the past month.

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Re:Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash by charlesdm on Friday November 17, 2017 @03:14PM (#15725611)

Which exchanges does one use if you want to avoid Tether? Gemini? Gdax?

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