Could The Latest BTC Pump Be A USDTragedy?

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Since the 29th of April 2020 BTC has been on a tear up from its 7k to over 9000 and that's when the moon boys come out to play singing its praises, everyone with a crypto YouTube channel starts pretending to be bullish so they can shill their affiliate links again and all is right and scammy in the world of crypto promotion.


Aside rant: - Crypto is meant to be about freedom, freedom of money, choice knowledge and information and you to take personal responsibility and eliminating the middle man yet a large percentage of people get their information from crypto YouTubers who are only mouthpieces. They pull together articles that are a combination of press releases and content from journalists who do actual research and then blurt it for 10 minutes to hit monetization guidelines and then either actively or passively shill some affiliate link.

Is this really where you should be getting your crypto info from? Think about it, use it don't use it, may as well leave your crypto on an exchange if you're going to leave your brain at the door but okay that's just my thinking on this.


Image source: - beincrypto.com

The price is right

If all you care about is the price, then the price going up is always the right price for you. I don't mind people being bullish, I mind people being full of bullshit. So many people are looking at the rise and thinking hey this is pre halving fomo and people want to get in cheap and yes that could be a reason for people buying but I doubt its enough t offset those selling as the majority of those selling are those who got in 6 months or less, you can check the chain analysis on that.

The vast majority of people are HODLing they sticking to positions, some may be adding but if you're already HODL'ing longer than a year I doubt you're staking up massively now.

Do you know who is staking massively?

USDT go bbrrrrrrr

I decided to check out good old coingecko@coingecko to see what's up and found something pretty interesting. Remember earlier I mentioned BTC started pumping around the 29th of April? Well 7 Days before that around the 22nd of April USDT minted 1.4 billion new USDT tokens, hmmm that sounds interesting.

Could that be enough to perhaps buy up enough BTC to trigger a rally in the market of 20 billion? If you don't know USDT has been one of the shadiest tokens in the crypto space with constantly being in trouble for one or other issue. So if they have a history of bad behaviour and the have the power of governments to print money at will, why wouldn't they use it to be a market maker in these crazy times?

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The dumb money

Bitcoin pumps aren't always a 1 reason wonder and the mainstream crypto space many of which are exchange sponsored mouthpieces want you to believe this is all legit but I have a strange feeling this is more artificial than natural. The USDT cartel is using the having narrative and their ability to mint to start a run and when all the dumb money starts pilling in they can skim profits in this pump and dump.

Have your say

What do you good people of HIVE think? Do you this is a fake pump or is this all real gains baby, the world waking up to crypto in a time when no one has a job, hmmm, think about it.

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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