When TetherUSD Spikes, The Market Dives
Just something I've been noticing lately. Whenever the price of Tether compared to USD has a spike above $1.00075, the entire market will dive a minute later. The symmetrical dive of every token is obviously in response to one temporarily neededing less USDT to buy every token.
Is this an opportunity for those with custom bots to craft an algorithm to close all the trades when this is detected. Something, as it is indeed a repeating trend.
Is Tether at fault for not balancing their coin fast enough to stop this. It obviously triggers bots to sell, which causes more bots to sell, which then causes humans to sell... And then whales to buy.
Let me know what you guys think? See for yourselves ; the finer the definition on the chart, the clearer it is to see. Happens at 12:37am.
Cheers!
Is this an opportunity for those with custom bots to craft an algorithm to close all the trades when this is detected. Something, as it is indeed a repeating trend.
Is Tether at fault for not balancing their coin fast enough to stop this. It obviously triggers bots to sell, which causes more bots to sell, which then causes humans to sell... And then whales to buy.
Let me know what you guys think? See for yourselves ; the finer the definition on the chart, the clearer it is to see. Happens at 12:37am.
Cheers!
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