Several coincidences have occurred within the date range of today’s Bitfinex and Tether CFTC subpoena news. At 10:52 AM MST on January 30th, 2018, Bloomberg Business published a story about a subpoena delivered to Bitfinex and Tetherby the United States Commodity Futures Trading Commission. One hour and 4 minutes later, the original Bloomberg Business article was updated with one minor (yet massively important) detail changed.
The change in the article was the date of the delivery of the subpoenas. The original article did not include a date, while the updated article suggested that the subpoenas were sent all the way back on December 6th of 2017. In the time between the publish of the original article and the update, the price of one Bitcoin had fallen nearly $500 USD.
— Cody [BAT] (@OddStockTrader) January 30, 2018
Above you’ll see the important bits of the Bloomberg Business article pointed out by cryptocurrency trader @OddStockTrader, AKA Cody. Next you’ll see a few items pointed out on a chart of Bitcoin prices over the past several months. This information comes from DJ Thistle, another crypto trader / shady business investigator.
That's some pretty funny stuff. And by funny I mean shady. "Coincidence" that the day the subpoena was delivered & the day (like 7 weeks later) that it was made public that the price is almost equal. look at the sell volume too. exit p&d for insiders there. pic.twitter.com/5IoHd4ecyf
— dj Thistle (@DJThistle01) January 30, 2018
The price of Bitcoin goes up significantly on the date the subpoena was apparently delivered. That in and of itself isn’t too surprising since Bitcoin pricing was already on the rise at that time. It’s just a few days later when the drop starts to happen. There you’ll see a spike in activity (circled by Thistle,) dropping the price of BTC vs USDT.
Fast forward to the BREAKING NEWS as delivered earlier today, and things are a little spooky. This is the first relatively stable week for Bitcoin pricing VS USDT in quite a while – and it just so happens to be leveling out at right around the price the coin was back when the subpoenas were delivered.
Causation is not correlation, but the simplest explanation is usually what’s most correct. The numbers don’t lie, and there’s no way this situation went like it did without some sort of good reason. There’s too much money at stake for this to all be a set of coincidences with no connection.
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