The idea that Bitfinex propped up bitcoin to rally up to 19k is well, a load of crap. They may have attempted to manipulate the price of bitcoin but the effect would have been barely detectable. Even if every single Tether coin was created with no dollar backing (and no one is claiming that) and every single Tether coin was used in an attempt to prop up bitcoin the effect on the bitcoin price would have been minimal. The total market capitalization of Tether is barely over 1 percent of the market capitalization of Bitcoin even at the current price. So the math is obvious. Tether and Bitfinex are not valuable enough to effect the price of bitcoin to any significant degree.
I really find it funny to hear government regulator types and wall street money scammers warn us little people about the dangers of bitcoin. Meanwhile big wall street firms manipulate the price of stocks and run high speed trades in microseconds using algorithms run on super computers every day. Does that sound like a level playing field to you? Aren't you glad these types are looking out for you? lol
“big wall street firms manipulate the price of stocks and run high speed trades”
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That may be, but it didn’t reduce the value of the dollar by 40 percent.
Bitcoin isn’t hardly on any govt’s threat radar. Maybe when your average 47 year old joe can walk into a Wendy’s or a Target & swipe something to pay instantly with bitcoin..... or when your average 34yo mom of three pops into a gas station on their way home & grab 4 gallons of gas paying instantly with a bitcoin card..... yeah THEN the govt will feel some kind of threat. As it stands 99% of the public who could own bitcoin or cryptocurrency neither does nor wants to.