Follow-up to https://manifold.markets/duck/will-tether-usdt-ever-trade-under-0 which was for 2022
Question resolves to YES if at least one candle's lowest price on CoinGecko (https://www.coingecko.com/en/coins/tether) goes under 0.7 USD.
Dec 15, 5:48pm: Will Tether (USDT) trade under 0.7 in 2023? → Will Tether (USDT) ever trade under 0.7 in 2023?
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No. Coingecko deliberately manipulates their stablecoin pegs to remain solid even during massive tubulance by swapping out their sources for the data with ones closer to the peg. It's almost impossible for a USDT depeg to occur on Coinbase of that degree unless USDT is completely imploding that is.
@duck you should not use a different source, since that would change the market by a lot and it has already been set up.
@BowTrix USDC's depeg has been accurately reflected by the CoinGecko price. I don't think changing the data source would change the market by a lot.
@BowTrix OK, I won't change it. Can you please suggest another reliable source to use in the future? Any just out of curiosity, do you think there are people for whom the choice of Coingecko affected what they will bet on this market?
Newest WSJ article on Tether: https://www.wsj.com/articles/rising-tether-loans-add-risk-to-stablecoin-crypto-world-11669875590
