Tether FUD Brings Bitcoin to $7,800, Altcoins Follow, Crypto Market Adds $20 Billion

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Tether price is down by 2.5% and is changing hands at $0.96. Tether price continues to fall as traders are selling USDT and are buying Bitcoin or other cryptocurrencies which made the prices go up for bitcoin at $7,800 and almost all the Altcoins followed by an increase of 10-15% adding to the crypto market another $20 billion capital.

What happened to Tether? Why exchanges are taking USDT down?

Kocoin has suspended USDT trading. They announced in a tweet that deposits and withdrawals are suspended.

What traders and investors in cryptocurrency are concerned about Tether?

There are concerns that tether might not be backed by real dollars as they claim and they failed to provide valid evidence of their holdings. Also, some argue about tether being tied to Bitfinex.
One of the biggest opponents to the cryptocurrency Nouriel Roubini tweeted:

Do you think it is just FUD about Tether or the Tether scam is busted? Feel free to post your opinion in the comments below.

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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