Due to Bank Withdrawal Problems Price of BTC is Exteremely High on Some Places
Lately i wrote about Latest Issues With Top BTC Exchanges with KYC/AML/Banks seems i was right on the alarm.
First it was issue with USDT which is a pegged to 1 USD asset withdrawable as USD. This went into trouble. BFX issues this tokens and currently you cannot deposit and withdrawal BTC there. This made big price spike on the exchange which trades premium over 60 USD right now.
Notice that all USDT markets are now premium because USDT lost its way of withdrawals.
Today due to premium over the market issues BFX was removed from BitcoinAverage because it was manipulating the price.
Notice that Poloniex and Bittrex who are top STEEM exchanges are also having this issue due to USDT.
OKCoin Stopping USD Deposits
Another huge exchange has stopped USD deposits.
Possible Outcomes.
If this issues gonna keep going and banks will be stopping exchanges - some of them may go down (lack of new funds for trading and making money on fees) so its suggested to currently buy altcoins on those involved and move out. Of course you can also stay in cheap USDT [below 1 USD] and count for things to normalize and then take profits. Up to you to decide which route to take.
Wirex also has a horrible exchange rate right now. They cite issues with Bitgo. I am not paying 10% to exchange Bitcoin. Going to hold for now.
Coinbase.com
Thanks for sharing. I will keep an eye on usdt :-)
India again has problems and people are turning to bitcoin. Check it out in www.news.bitcoin.com
I sense a bubble about to burst, and its not the alternative bubble.
http://www.coindesk.com/okcoin-bitcoin-freeze-us-dollar/
more and more... not good.
kingscrown, you rule ;)
Hmm.. might be worth buying USDT if it drops to a few cents..
yeah worth watching
It's time to switch to alts then?
Seems like the demand is increasing.