Tether pumps $250 million into the Crypto Market

Tether has pumped another $250 million into Cryptocurrency Market. This may give the Crypto market a small bump in the short run but I don’t think it gives Tether or the Crypto Market a good look. There are many critics who already think that Tether pumps the crypto market to keep it afloat or artificially pumps it higher whenever there is opportunity or it looks like Bitcoin is in trouble. Now, a research paper conducted recently has poured cold water on that theory by showing that the amount that Tether influences the price of Bitcoin is only $4 every $10,000 meaning that it raises the price of Bitcoin from $10,000 to $10,004, which is basically no change at all. Still, this gives fuel for the haters to claim that Tether, pumping $250 million at a time when Bitcoin is at its 6-month low, is artificially inflating the price of Bitcoin. Bitcoin was already recovering a bit before the Tether news came out late Yesterday or Early today and I do not think an injection of Tethers was necessary and I do not think it is a positive thing for Bitcoin in the long run.

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