On October 29th, NIA alerted its members about $25 million in new counterfeit U.S. dollars being printed in Cryptocurrency units called Tether (USDT). NIA explained that when these USDT tokens get issued, Bitcoin always rises afterwards as a result of these counterfeit Crypto U.S. dollars getting lended out on margin. By overwhelming Cryptocurrency exchanges with excess liquidity any time Bitcoin shows weakness, Bitcoin traders are always ready and willing to “buy the F’N dip” and drive Bitcoin prices to new record highs.
The shocking truth is, there are no U.S. dollars backing these tokens! At some point in the near future, the Cryptocurrency community will realize this reality when they try to exchange USDT tokens for fiat U.S. dollars but get rejected by Tether, causing the majority of today’s fake $200 billion in Crypto wealth to immediately get wiped out!
After the printing of $25 million in new USDT tokens on October 28th, Bitcoin rallied from $5,709 to a high on November 3rd of $7,500 for a gain of 31.4% in six days. As soon as Bitcoin began to show weakness by dipping to a November 4th low of $6,994, another $25.05 million in new USDT tokens were printed. Afterwards, Bitcoin immediately began to explode, reaching a new record high only 36 hours later of $7,590!
Instead of rallying to $8,000, Bitcoin once again showed weakness by dipping early Tuesday morning to a low of $6,957. Last night with Bitcoin at $7,011, another $20 million in new USDT tokens got printed, causing Bitcoin to explode back up to $7,450 within 8 hours!
If you look at NIA’s exclusive 2017 chart of Bitcoin vs. USDT tokens outstanding, every single time that Bitcoin dips, these counterfeit Crypto U.S. dollars get printed continuously until Bitcoin prices find a bottom and bounce higher!
Between January 5, 2017 and January 31, 2017, a total of $15 million in USDT tokens were printed. Afterwards, Bitcoin rose from a January 31st price of $959 to a March 7th price of $1,232 for a gain of 28.5% in 35 days.
Between March 7, 2017 and April 18, 2017, a total of $40 million in USDT tokens were printed. Afterwards, Bitcoin rose from an April 18th price of $1,263 to a May 24th price of $2,349 for a gain of 86% in 36 days.
Between May 24, 2017 and July 18, 2017, a total of $260 million in USDT tokens were printed. Afterwards, Bitcoin rose from a July 18th price of $2,222 to a September 2nd price of $4,516 for a gain of 103.2% in 53 days.
Between September 2, 2017 and September 14, 2017, a total of $120 million in USDT tokens were printed. Afterwards, Bitcoin rose from a September 14th price of $3,386 to an October 28th price of $5,709 for a gain of 68.6% in 44 days.
Since October 28th, an additional $70.05 million in USDT tokens have been printed, causing Bitcoin to gain an additional 30.5% to $7,450 in only 11 days!