NEW FUD IN THE MAKING in $USDT
DEAR FELLOW TRADERS,
THERE are reports of US govt crackdown on Tether (USDT)'s parent company.
The cryptocurrency market is very delicately poised right now with $BTC BTC and$ETH ETH just hitting fresh highs for 2024 and most ALT coins have had a phenomenal run upwards.
If this report from JP MORGAN is to be believed ... Tether (USDT) which is the largest stablecoin in this space will face troubles going forward.
The FUD this news will create will send ripples through the entire cryptocurrency space and might lead to a fall in all cryptocurrencies as well. This news also makes total sense as JP MORGAN itself is planning to launch its own stable coin and would want the biggest stablecoin (USDT) to loose it's lustre for them to excel.
IN the long run this news will make people run to buy the larger cryptos which they trust.
To cut the long story short we might witness unprecedented volatility in the market and that can lead to melting a lot of portfolios.
CAUTION IS ADVICED
TRADE SAFE TRADE SMART
DYOR
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