USDC SHORTUSDC has just DE pegged, and in my opinion will experience a full on crash this coming week.
UDCUSD trade ideas
USDC is now de-pegged from $1 - Ugh OH!!!
Reveling they had 3.3 billion exposed to Silcon Valley Bank.........................................
USDC De-peg could Crash DAI, USDD, & FraxI want to share my thoughts on the current situation with stablecoins, specifically USDC, DAI, and FRAX. It is my belief that if USDC were to collapse, DAI and FRAX would follow suit, causing a significant crash in the entire crypto market.
Recent developments support this concern. Binance has paused the automatic conversion of USDC to BUSD due to high inflows and the increasing burden of conversion support. Additionally, Circle has burned over $1.6 billion USDC in cash over the past few hours, resulting in a decrease in the total supply of USDC from 43.55 billion to 42.3 billion, down $1.2 billion in just a few hours. Up to 25% of all USDC is uninsured in the SiVB (Silicon Valley Bank) collapse, only $250,000 is guaranteed recoverable. FDIC assumed receivership of the banks $197 BN remaining assets. 50% of all start ups in the US are said to have some exposure to SiVB, either directly or indirectly. Circle group is facing potential bankruptcy if the run on USDC is not staved off....
Furthermore, only Tether is currently above a dollar, with only five of the 13 stablecoins trading at 99 cents USD. Even FRAX, which is backed by USDC, is currently trading at 0.92 USD.
The general concern for all stablecoins may prompt investors to move their funds into BTC/ETH, causing a significant shift in the market.
As always, it is important to stay informed and monitor the situation closely. Stay safe and make informed decisions.
USDC price prediction 2021USDC price prediction 2021: It will go straight up to $1 dollar and back down to $1 dollar every day till perpetuity because Kevin O'Leary - Mr. Wonderful from Shark Tank told me so. As you can see on the chart there's an inverse cup and handle pattern, most likely pointing to a spilled cup of coffee along the 100SMA trendline. Also, if you look really close and squint your eyes, you can see the invisible Casper the ghost pattern. I'd jump right on this trade before this ship sails and goes to the moon because it's pointing North, South, East and West. Just be careful to exit the trade while the Doji candlestick does the Macarena and before it does the limbo. Oh yea, AND HAPPY APRIL FOOLS! Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. This is for educational and entertainment purposes only. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
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