Tether (USDT) Is Too Dangerous To Hold, Says Peter Brandt

The crypto market is awaiting some massive moves these days as the final countdown to the Bitcoin halving has begun.

We’re just a few days away from the massive event which is scheduled to take place on May 12.

At the moment of writing this article, Bitcoin is down by more than 4% and currently, the king coin is trading in the red.

BTC is priced at $8,673.55.

Despite the massive fall in price from March 12, people are still seeing Bitcoin as a safe haven.

Analyst Peter Brandt became extremely popular when his prediction that BTC was at the start of a massive correction back in January 2018 turned out to be accurate.

Peter Brandt warns trader against holding USDT

Now, he is warning traders against holding the leading stablecoin Tether.

He shared a few tweets in which he told traders that they should not be holding USDT – this is designed to be pegged to the price of the US dollar.

He said that the stablecoin is not safe due to a lack of consistent regulation and oversight as well.

This is the most widely traded crypto.

Brandt made sure to highlight that people are not right to slam the US dollar, but keep their wealth in Tether.

As you probably know by now, there are a lot of crypto traders who are exiting their speculative positions in exchange for USDT in order to sidestep market volatility.


Coins Mentioned

BTC

Bitcoin

Companies Mentioned

CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1763 Articles

Top Exchanges
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CEX.IO

3

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Coinbase

2

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Binance

1

Website

Top Casinos
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7bitcasino

4.20

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BitStarz

4.93

Website

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FortuneJack

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Top Sportsbook
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1xBit

4.03

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Nitrogen Sports

4.73

Website

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SportBet.io

4.60

Website

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