Published
5 years ago on
October 11, 2018
“As of June 2018, over 80% of #Bitcoin mining is performed by six mining pools and five of those six pools are managed by individuals or organizations located in China.So this is really worrying. And $BTC maximalists must look at this as a huge threat. China controlling BTCâ€Bitfinex The relationship between Tether and Bitfinex has come out with some interesting developments over the past few days. After showing signs of trouble, Noble Bank halted their services for Bitfinex and Tether. This led to a loss of trust in the exchange and a stablecoin leading to funding withdrawals. The past month saw half of the Bitcoin deposited in the Bitfinex cold wallet flowing out and an additional 100 million USDT leaving circulation. The stock market crash In the beginning, Bitcoin was initially seen as a hedge against the risk of the stock market since its price movements seemed to almost ‘defy gravity’. But with the slide of the Dow Jones Index by a thousand points, within days saw rekindled fears for the traditional world of finances. Mainstream markets are still lacking exuberance and a need for investments, so the leading cryptocurrency may have to, once again, wait for an inflow of institutional money. What are your thoughts? What do you think caused the markets to crash today? Let us know what you think down in the comments below! References: CryptoVest
