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    [Daily Discussion] Friday, April 26, 2019 Bitcoin Markets

    April 26, 2019

    [Daily Discussion] Friday, April 26, 2019 Bitcoin Markets

    [Daily Discussion] Friday, April 26, 2019

    Posted: 25 Apr 2019 09:05 PM PDT

    Thread topics include, but are not limited to:

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    [Altcoin Discussion] Friday, April 26, 2019

    Posted: 25 Apr 2019 09:06 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

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    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
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    Bitfinex goes insolvent around the time of the April bubble, coincidence? No.

    Posted: 25 Apr 2019 07:04 PM PDT

    This is Willybot all over again.

    CryptoTrading claims 850mil is "seized" by officials. Bitfinex/Tether co obtain a 900mil line of credit with a 6.5% interest rate. Markets see unprecedented buying action, with Bitfinex as the leading exchange, leading to the 20k USD bubble.

    You can't tell me that the timing of this is all coincidence. This is the exact same thing that happened with MtGox and it's market manipulation effort to pay back its losses.

    On March 29, after further discussions, the representatives disclosed in a letter to the AG that the credit line had been closed and "during November 2018, Tether transferred $625 million held in its account at Deltec to Bitfinex's account at Deltec.

    Ergo, Tether is not currently backed by a reserve (unless they have access to another credit line we aren't aware of, seems unlikely though). In other words a portion of this market is currently propped up by money that does not exist. So people can stop saying that this news "shouldn't impact Bitcoin", because it clearly should and will.

    submitted by /u/whyubreak
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