To those holding Crypto: It might be time to diversify your holdings. Probably into cash. If the Tether story gains steam - and it seems to be doing that - then the whole system could implode... and quickly. About as quickly as it takes to process your transaction (so that’s.. well a week or so, thanks Crypto Kitties..)
If Tether really has propped up BTC - and that is rapidly moving from unlikely to plausible - then the fallout, inc for all other altcoins, will be massive. Some predict -80%, others less.
Regardless, if a correction occurs, it may stay down for a lot longer than anticipated - liquidity will definitely drop in the short term, not just because of the removal of Tether, but because investors won’t re-enter the market as they won’t want to be burned again. Investors who believed in decentralized currencies, controlled by no-one... who won’t take too kindly to finding out that the currencies have been ‘propped up’ the whole time by a very centralized group of controlling people.
