The situation on Wednesday: Bitcoin – the new Stable Coin?

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This Headline of course is meant tongue-in-cheek – the independence of Bitcoins is not on the game. However, the Bitcoin has exchange rate behavior in the past week, actually more stable to the US Dollar, the US Dollar figure on the Tether. Ever, the Bitcoin shows – in comparison to various Altcoins – and, increasingly, fluctuation resistant. What may sound from an investor’s point of view, boring, could provide for the long-term adaptation but the benefits. The situation on Wednesday.

A 24-hours-Minus a half a percent, a weekly decrease of 0.2 per cent – these figures do not describe about the “stable” Stable Coin Tether (USDT), but the industry leader is Bitcoin. The Tether data for the same period of time in a 24-hours-Plus of 1.5 percent, which may not, however, make the weeks-Minus of 1.7 percent in betting. Crazy times, you might think – but it’s not just the Chaos in order to Tether and Bitfinex plays a role in this bill. The remarkable stability, which has placed Bitcoin, the last of the day, contributes its part.

Bitfinex and the unstable Stable Coin

The Exchange Bitfinex is at the Moment not a good figure. First of all, the crypto-exchange with the accusation to be confronted, there is not enough money in reserves to haveall customers pay. In this picture fit in with that, a few days later, Fiat deposits on Bitfinex blocked . The mass of the deleted Reddit Posts had to look deep.

Also, Bitfinex, and Brock Pierce, published Tether crashed at the beginning of the week and was unable to maintain its US Dollar bond. For the controversial Bitcoin exchange is the Tether expiry some more bad news. A run by investors in other crypto currencies is – the main thing is the way of Bitfinex.

Bitcoin is more stable than its reputation

Regardless of the destabilization of the Stable Coins Tether, the Trend continued in the last few weeks that Bitcoin can present itself as a crisis-proof crypto currency. So Bitcoin is subject to a remarkably low level of price fluctuations. The top of the sound already, that both the day – of-week chart, the BTC has only a few small rashes. And this is not a new image.

More striking is this feature, if you, however, the price developments of the Altcoins . Of the Top 10 Coins, the lowest margin was a decrease of almost five percent (XRP), while Cardano and Bitcoin for Cash to the highest rate of loss “to compete” (ten or eleven percent).

So we found ourselves in the last week, the question of whether the Bitcoin in the future, not in a series with the Euro and the US Dollar should, as with Ether and Monero. The decline in volatility would vote for that. For Bitcoin adaptation that is good news. Finally, the basic idea of the crypto-currency is a Peer-to-Peer payment system and currencies, as an Alternative to the Fiat and is not the of a novel asset class.

This will certainly also see Jimmy Song. This was just in the last week for some attention, as he Bitcoin holders use a credit card to the payment processing recommended. A disservice to crypto-currencies, however, the context should be considered to be.

China: a risk for the Bitcoin market?

In spite of all stability, the Bitcoin should not weigh-in-Community too much. If you are a number of FUD-Broadening gives the warning of an imminent attack by China on the global Bitcoin Ecosystem believe. With the combined Power of the Chinese Miner and an army of 51 percent of the attackers of the Bitcoin, therefore, would be forced into the knee – so far, so FUD.

Why it is a bad idea, any distribution of “Fear, Uncertainty and Doubt” for cash to take, and why at this point prefer to “Do Your Own Research” should stand for, our Analyst Dr. Phillip Giese clearly in a two-part series .

And finally…

…is worth a little bit of happy guesswork still. In the last week we reported in detail about the on the Internet that is circulating on the treasure hunt, the winner a price of 310 Bitcoin prospect of. The main price was relatively rapidly cleared, one of the consolation prizes to a value of 0.31 BTC is, however, at the present time, still to have. Has lost the majority of the treasure hunters ‘ interest, as the 310 BTC changed hands? Every little helps, so once again firmly in the hands spit and go…

BTC-ECHO

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