The chart shows the price and the Tether (USDT) supply, i.e. the number of USDT coins in existence, in blue.
As you can see the supply of Tether was increased by 20% in mid-August 2018. This was to provide liquidity to allow insiders to swap their for USDT for the final exit at 6k. One months later, just days before the massive price spike and Tether price on 15 October 2018, they started quietly swapping their USDT for real money ($$$) via the Bank of Tether thus cashing out of crypto.
During this period the supply of Tether dropped -40%. That was approximately $1.8 billion dollars. All the time the price of was maintained stable at about $6400 on average. This was so that insiders (scammers, criminals and assorted scumbags) could continue to sell their for Tether at a good price.
The only instability was an intraday spike to almost $8000. This allowed insiders to load up shorts, but otherwise the price of was stable until the insiders were finished cashing out of crypto in mid-November (bottom of red arrow). THEN and ONLY THEN did the price , IMMEDIATELY.
WHAT A MIRACULOUS COINCIDENCE.
Interesting is that the Network hash rate (yellow) peaks when the the Tether supply (blue) peaks, i.e. before the price (candles) crashes.
Published at Thu, 11 Apr 2019 19:01:27 +0000
