Yes if it falls, it WOULD take a massive dump on the entire crypto market.
However, on a longer time frame (probably 2 decades), Bitcoin would recover and surpass its current valuation due it's limited supply.
The article is correct in stating no one in crypto cares about the Tether issue.
This is absolutely true, we could not care less.
I'm nearing 9 years of experience with Bitcoin and other crypto currencies.
I've heard this same type of FUD literally every time the market dumps 50% or whatever for the better part of a decade now.
Almost starting to sound like the new fake climate change hoaxes pushed every decade.
And yet here I am, 9 years later doing just fine.
I will say this though, BTC is clearly positively tied to S&P500 and if traditional markets tank, I would expect to see BTC to get smoked into oblivion (actually this time).
We saw this happen when corona first shut down the US and traditional markets tanking brought BTC down 50% in a single day.
Was one of the worst days in crypto history and many of us (myself included) thought it was the end of BTC and crypto.
So if you REALLY want to short Bitcoin (because you hate BTC or whatever), wait for trad markets to tumble first.
I would recommend taking these types of articles with a grain of salt.
Long time crypto guy here (bought BTC in 2013)
Yes the Tether issue has always been around.
Yes if it falls, it WOULD take a massive dump on the entire crypto market.
However, on a longer time frame (probably 2 decades), Bitcoin would recover and surpass its current valuation due it's limited supply.
The article is correct in stating no one in crypto cares about the Tether issue.
This is absolutely true, we could not care less.
I'm nearing 9 years of experience with Bitcoin and other crypto currencies.
I've heard this same type of FUD literally every time the market dumps 50% or whatever for the better part of a decade now.
Almost starting to sound like the new fake climate change hoaxes pushed every decade.
And yet here I am, 9 years later doing just fine.
I will say this though, BTC is clearly positively tied to S&P500 and if traditional markets tank, I would expect to see BTC to get smoked into oblivion (actually this time).
We saw this happen when corona first shut down the US and traditional markets tanking brought BTC down 50% in a single day.
Was one of the worst days in crypto history and many of us (myself included) thought it was the end of BTC and crypto.
So if you REALLY want to short Bitcoin (because you hate BTC or whatever), wait for trad markets to tumble first.
I would recommend taking these types of articles with a grain of salt.