Quote:
Originally Posted by Jewish Rabbi
Absolutely. This tether fiasco getting resolved one way or another is the best thing that could possibly happen to crypto.
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If Tether doesn't even have ALL cash reserves, then it's bad. All it takes is negative press to hurt speculation. And if they are legit broke then it could be super bad bad. Not 80% of the value bad, I don't buy that. But certainly a huge huge dip that could last for a while. It could really hurt the momentum and give people a bad taste in their mouth. The Mt Gox thing happened on a smaller scale and while Bitcoin & crypto wasn't well known to almost anyone and it still crashed like a mofugger.
If Tether proves dollar for dollar cash reserves, we could see a boom. At least that is my best guess.
In hindsight, I wish I would have sold most of mine at 20k BTC and waited until the the dip to re-invest.