Don’t use those Bitcoin/USDT (Tether) charts for tradingsteemCreated with Sketch.

in #bitcoin • 7 years ago (edited)

Tether loses its dollar peg in times of high volatility. This clearly impacts charting.

This is the BTC/USD pair on Bitstamp for the last 5 days. Notice the completed A-B-C correction.

image

This is the BTC/USDT (Tether) pair on Poloniex for the same time period. There’s no completed A-B-C correction because Tether lost its peg (ie it was worth more than a dollar because of extreme market demand) during the first selloff.

image

#cryptocurrency #chart
7 years ago in #bitcoin by
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