Thread by @BryceWeiner

This drop is nothing.

It's a setup for a parabola.

Remember: there is no resistance at these levels and the sell side orderbooks are shit. If the price stalls out that's the motion of whales in the ocean painting charts.

Everyone who watched CNBC today and has no brain is seeing this as an entry.

The doomers are hilarious tho.

This 👇

https://twitter.com/gonzoucab/status/1331821753304281088

Kinda cool the UK short sellers won't be able to add to downward pressure come the second week of January.

I didn't realize it but BVI has been governed by US and UK financial regulations since 2015.

This may very well be a blow to Bitfinex.

https://twitter.com/benmickcom/status/1331814708765204482

Expect Bitfinex to be leaving BVI for Gibraltar.

Nvm Gibraltar has also been infected by OECD.

Bitfinex might be out of places to escape to.

Malta flipped anti-crypto during the last election, so they are out.

Macao just announced their intention to comply w/ OECD not a couple weeks ago.

This feels like an endgame move suddenly.

If you follow @mattysino you know that the Chinese are bonkers for USDT because it's like having USD inside of their closed economy.

If Bitfinex gets caught in a pincer move between the US and UK regulators .. Chinese retail might be the biggest loser. No fun for Finex c-suite😂

Bitfinex's current TOS is a self-own.

Let's assume this is Bitfinex's last hurrah in the markets because they will no longer be able to offer derivatives, which is their jam.

They will ride this out all the way until the 6th where they will cause longs to get rekt with a price collapse ala 2018.

The market will act erratic at first until people realize USDT wasn't worth shit to begin with and its still not worth shit and they never could swap it for actual cash so nothing actually changed.

I suspect Binance will take over USDT management.

Pure speculation: with control over CMC and USDT CZ will consolidate his powerbase completely, which shall sow the seeds of his own destruction.

Absolute power corrupts absolutely.

What would be hilarious is if Binance does take control of USDT management and forms a "management board of trustees" and then we've come full circle and re-invented the Fed.

Who better to manage USDT than the member exchanges which offer it am I right?

What I'm saying is Bitfinex might collapse, but USDT will not.

The price will suffer while folks learn the new normal and then the game resumes.