Economist and capturador Alex Kruger held in his Twitter a survey among 3619 parties relating stablon Tether (USDT) and bitcoin (BTC). The results were quite unexpected.
It turned out that respondents see significant mutual dependence between these digital assets. For example, 38% believe that the collapse of the Tether will cause the temporary collapse of bitcoin.
Question by Alex Krueger was: «What will happen to bitcoin will collapse if Tether?». The reaction of the cryptocurrency community was the following:
What would happen to $BTC if the Tether goes under?
— Alex Krüger (@krugermacro) November 7, 2019
24% – «bitcoin will continue to grow»; 15% «bitcoin will first rise, then fall»; 38% – «will be a temporary collapse of bitcoin in the 10% -40%»; 23% – «there will be a crisis of bitcoin and new lows».
One commenter quite rightly asked:
«But don’t people transfer their investments into bitcoin to get away from [shooting] the Tether?»
Commentators also noted that the recent collapse of the Tether, when it fell below $1, has had the opposite effect on the price of bitcoin and it traded at $6500.
At the time of preparation of this post, according to CoinMarketCap, bitcoin was trading for $9194,21 (-1,08%) with market capitalization of $165.8 billion, and stabilin Tether (USDT) cost of $1.00 (+0,20%).