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BCH Hash Wars and Tether Manipulation: Not a Good Look for Cryptocurrency

Bitcoin Cash (BCH), Cryptocurrency, Tether (USDT) –On a day when cryptographic markets are finally seeing scarce amounts of green, after one of the sharpest rating declines to punctuate the bear cycle of 2018, investors still have to contemplate the impact of the most controversial cryptocurrency projects: Tether and Bitcoin Cash.

Bitcoin Cash, which seemed to have spurred some investment in the encrypted markets in the days before the heavy blow of November 15, as eroded the goodwill of the investment base from a furious conflict between the factions of the now divided currency. While both sides seek to gain legitimacy in the eyes of the community, the cryptocurrency investment landscape has suffered in the meantime. The price pump driven by the greed of Bitcoin Cash, like all hard forks, has pulled out the carpet from underneath cryptocurrency, causing a fall in prices that has most of the public opinion listening to the opinion of many external analysts.

While the Bitcoin Cash saga is underway, with the coin creating a storm of uncertainty in the vitriol back and forth between Bitcoin ABC and Bitcoin SV of Craig Wright, Tether's controversy continues to find new life. On November 20, when Bitcoin fell below $ 4500 and the crypto market hit the lowest point of the year, Bloomberg reported on a new development by the US Department of Justice to open an investigation into Tether, the parent company behind the USDT stall. While the accusations against Tether and its somewhat troubled relationship with the Bitfinex exchange have been a longstanding black mark in the cryptocurrency register, the most recent investigations of the possibility that the currency has played a role in the huge bull of BTC.

Tether, which produced $ 1.81 billion, had to answer repeated questions about the legitimacy of 1: 1 support for the stablecoin. While the company claims to hold a US dollar in reserve for every newly coined USDT, setting the price at a stable value, investors are still skeptical about the exact nature of Tether's holding, despite the banks changing company in the US dollar. ;last month. Instead of trading its $ 1 historian, the USDT slipped to $ 0.98 in the price crypt, indicating that investors are not yet fully trusting the currency to safeguard their funds even if the crypt markets they continue to collapse.

According to Bloomberg, the Tether survey concerns the intricate relationship between USDT, Bitfinex and the timely nature of BTC price pumps,

While federal prosecutors opened a vast criminal investigation into cryptocurrencies months ago, they recently came under the suspicion that an intricate network involving Bitcoin, Tether and the cryptographic exchange of Bitfinex could have been used to illegally move prices, three people said who are familiar with the question … Some traders – as well as academics – have claimed that these Tethers are used to buy Bitcoin at crucial moments when the value of the most thrown ubiquitous digital tokens. JL van der Velde, managing director of Tether Ltd. and Bitfinex, previously rejected these claims.

With prices that continue to show uncertain stability, investors can only hope that the industry moves towards more positive news and developments and poses ongoing controversy in the past.

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