Monday morning the price of Bitcoin surged to as high as $7800. At the same time, the price of the stable coin Tether tumbled. Normally always valued at $1, Tether was suddenly worth only $0.80 on some exchanges.
With the spike of Bitcoin, the price destroyed the resistance of the triangle and the descending wedge, resulting in a “breakout”. I don’t want to call it a breakout yet, first I want to see it confirming and see a clear explanation of Bitfinex on the Tether situation.
Be careful out there.
#Bitcoin #Tether #cryptocurrencies
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