Bitcoin’s Price Unmoved By Tether Troubles, Only 462 BTC Needed For 1% Price Change

As the end of the year approaches and Bitcoin’s price shows no signs of slowing down, many are wondering what will happen to the cryptocurrency in 2018. While some say that BTC is a bubble that is about to burst, others believe that the cryptocurrency is here to stay.

One thing is for sure, BTC is Volatile. In the past week, Bitcoin’s price has dropped from $17,000 to $13,000 and is now slowly climbing back up. These quick and drastic changes in price are often attributed to FUD (fear, uncertainty, and doubt).

One event that caused a lot of FUD in the past week was Tether’s announcement that they had lost $30 million worth of their USDT tokens. USDT is a “stablecoin” that is pegged to the US dollar and is often used to trade other cryptocurrencies. The announcement caused many to question the stability of USDT and other stablecoins.

Despite the Tether drama, Bitcoin’s price has remained relatively stable. It would take a buy or sell order of just 462 BTC to move the market by 1%.

Bitcoin’s price is unmoved by Tether troubles

When it comes to BTC, it seems that nothing can faze its price. Despite the recent issues surrounding Tether, Bitcoin’s price has remained relatively unaffected.

Tether is a cryptocurrency that is pegged to the US dollar, meaning that each Tether is worth $1. Recently, there have been questions raised about whether or not Tether has the US dollars to back up all of the Tethers in existence.

If Tether were to collapse, it could hurt Bitcoin’s price. This is because many people use Tether to buy BTC. However, it seems that the market has already priced in the possibility of Tether collapsing, as Bitcoin’s price has not been affected by the news.

There are several reasons why BTC’s price is more resilient than other cryptocurrencies. Firstly, Bitcoin is the most established and well-known cryptocurrency. This gives it a level of legitimacy that other cryptocurrencies don’t have.
Secondly, BTC is decentralized, meaning that it is not controlled by any one person or organization. This makes it much less susceptible to manipulation than other cryptocurrencies.

Finally, there is a limited supply of BTC. There will only ever be 21 million Bitcoin, which gives it a scarcity value. In contrast, fiat currencies may be produced at whim by central banks.

All of these factors combine to make BTC a very stable cryptocurrency. Amid Tether’s troubles, Bitcoin’s price has remained unmoved, showing that the market has faith in the world’s leading cryptocurrency.

Only 462 BTC are needed for a 1% price change

Bitcoin’s price is seemingly unperturbed by the recent controversies surrounding Tether. Tether is a digital currency that is pegged to the US dollar, and it is allegedly backed by dollar reserves. However, doubts have been raised about whether these reserves exist, and Tether has been accused of being used to manipulate the price of BTC.

Despite these concerns, the price of BTC has remained relatively stable. In fact, according to data from Bitfinex, only 462 BTC are needed to move the price by 1%. This is a relatively small amount of Bitcoin, and it suggests that the market is not overly concerned about the Tether situation.

It is worth noting that the price of BTC is still highly volatile, and a 1% move is still a significant change. However, the fact that such a small amount of Bitcoin can move the price by 1% shows that the market is not as worried about Tether as some might think.

Bitcoin is a resilient system

When it comes to cryptocurrency, there is no system more resilient than Bitcoin. Despite the recent problems with Tether, BTC has remained unphased. This is because BTC is not as reliant on Tether as other cryptocurrencies. Only 462 BTC is needed for a 1% price change. This shows that Bitcoin is a much more stable system.

Bitcoin is often referred to as the most resilient system due to its ability to withstand attacks. For example, in 2014 Mt. Gox, once the largest BTC exchange, was hacked and lost 850,000 BTC. The price of BTC dropped from $1100 to $500. However, it quickly recovered and even reached a new all-time high within a year.

This event showed that Bitcoin is not only resilient but also has a large community behind it. The Mt. Gox hack resulted in the community coming together to find solutions. This is one of the key strengths of BTC – its community.

The community is one of the main reasons why Bitcoin has been able to survive for 10 years. They are the ones who push for the adoption and use of BTC despite its volatility. They are also the ones who develop new solutions to problems.

It is this community that will continue to make Bitcoin the most resilient system. Cryptocurrencies may come and go, but Bitcoin is here to stay.

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Tether is a minor player in the grand scheme of things

When it comes to BTC, Tether is a minor player in the grand scheme of things. As of August 19th, Tether’s market capitalization was $1.83 billion. That might sound like a lot, but it’s only a fraction of Bitcoin’s total market cap of $269 billion. In other words, Tether only makes up about 0.68% of BTC’s market.

Tether’s influence on Bitcoin’s price is also quite small. For Tether to have a 1% influence on Bitcoin’s price, only 462 BTC would need to be traded for USDT. That’s a minuscule amount compared to the total amount of BTC that’s being traded every day.

So while Tether’s recent troubles may have caused some short-term volatility in the cryptocurrency markets, it’s nothing that BTC investors should be too worried about. Tether is simply too small of a player to have a significant impact on Bitcoin’s price in the long run.

Bitcoin’s price is a function of supply and demand

When it comes to Bitcoin, supply, and demand are what drive the price. The current supply of BTC is just over 18 million. However, the actual number of available Bitcoin is much lower. This is because many Bitcoin is lost or cannot be accessed. This leaves around four million BTC available to be bought and sold. The demand for Bitcoin comes from two main sources. The first is investment demand. This is when people buy BTC to hold it for long-term gain. The second is transactional demand. This is when people use BTC to buy goods and services. The price of Bitcoin is a function of how many people want to buy it and how many people are willing to sell it. When more people want to buy BTC than sell it, the price goes up. The price of Bitcoin falls when greater numbers of individuals want to sell it than purchase it. The recent troubles with Tether have not had much impact on the price of BTC. This is because the demand for Bitcoin is not driven by Tether. The demand for BTC is driven by people who want to invest in it or use it to buy goods and services.

Tether cannot print more USDT without BTC

Tether, the largest stablecoin by market capitalization, is in hot water. The New York Attorney General’s office has opened an investigation into the company behind Tether, and the findings could have major implications for the digital currency.

The Attorney General’s office is investigating whether Tether was used to manipulate the BTC market. If Tether was used to artificially prop up the price of Bitcoin, it could have serious implications for the digital currency.

Tether is an electronic currency backed by the US dollar. One Tether is worth one US dollar. Tether is different from other digital currencies, like BTC, because it is designed to be a stablecoin. That means that it is meant to maintain its value at one dollar, regardless of what happens in the market.

In theory, this makes Tether a safe investment. You can put your money into Tether, and know that it will be worth the same amount when you want to cash out.

However, the recent investigation by the Attorney General’s office has called into question whether Tether is backed by US dollars. Tether’s website claims that each Tether is backed by a US dollar held in reserve. But the Attorney General’s office is investigating whether Tether has the US dollars to back up all of the Tethers in circulation.

If Tether doesn’t have the US dollars to back up all of the Tethers in circulation, it could mean that the digital currency is worthless. That would have serious implications for the BTC market, as Tether is often used to buy Bitcoin.

It is still unclear what the findings of the Attorney General’s office will be. But if Tether is found to be manipulated

Bitcoin is the most desirable cryptocurrency

When it comes to cryptocurrency, Bitcoin is in a league of its own. The original and most well-known cryptocurrency, BTC is seen as the gold standard when it comes to digital currency. And, unlike other cryptocurrencies, BTC is not simply riding on the coattails of its predecessors – it is the trailblazer that has paved the way for others.

What makes BTC so desirable? First and foremost, it is decentralized, which means it is not subject to the whims of governments or financial institutions. Secondly, it is secure, thanks to cutting-edge blockchain technology. And last but not least, it is scarce – there will only ever be 21 million Bitcoin in existence.

Due to all of these factors, Bitcoin is the most desirable cryptocurrency on the market today. And, as its price has shown, demand for BTC is only increasing.

Despite recent troubles with the popular cryptocurrency tether, BTC’s price has remained relatively steady. This suggests that Bitcoin is becoming more resistant to price shocks from individual coins or tokens. However, it is important to remember that BTC is still a volatile asset, and even a small change in BTC price can result in a large percentage change. For example, at the time of this writing, 462 BTC is worth approximately $2.8 million. This means that just a 1% change in Bitcoin’s price would be worth over $28,000.