At this point in time, I would advise anybody involved with cryptocurrency to... well, either get out altogether, or reduce your "exposure" to something that won't hurt you at all. Getting into Bitcoin or Ethereum or Dogecoin as a lark or as a joke or even as an experiment is one thing - getting into it as a serious investment is another thing. This feels like it's going to pop like a whale cadaver on a beach, and soon.
Maybe things will have settled down in a month; maybe they won't. But Bitfinex sounds like one of the most fradulent securities companies ever. They would make Mike Milken and Kenneth Lay proud.
"While Bitfinex insists all new “USDT” are backed by real dollar deposits, new Tether issuances have coincided with dips in the price of bitcoin."
That should be clarified as: While Bitfinex insists all new “USDT” are backed by real dollar deposits, new Tether issuances have coincidentally followed dips in the price of Bitcoin, and after the Tether issuance a subsequently coincidental increase in the price of Bitcoin.
Without the in-out funds using BTC as the turnstile to enter-exit altcoins, BTC collapses and takes the whole crypto complex with it. IMO. Wash trades galore I reckon.
As for the Jap exchange repaying $600 million they were hacked, that's hilarious, never gunna happen, they ain't got da Yens. BEWARE the Snake Pits.
