### A new number 3 in Marketcap. After the hard market crash that can actually be called a total reset, today when I look at the coinmarketcap app, I see one thing that gives me the idea that many people are not so comfortable at the moment. Bitcoin's market cap has remained unchanged at number 1. The number 2 has also been the same for ages, and it says Ethereum… but when I look at the number 3, suddenly there is another one.

Tether

BNB has been at number 3 for a long time with Dogecoin just behind at number 4. If I look today, then suddenly Tether has become number 3. Which for me indicates that many people are not reassured about the situation. And be afraid of a new dump, or a lot of cash flow has been brought into the crypto in order to ensure that they are not dependent on exchanges that do not work at crucial moments in the next dip. Make sure they have cash flow on hand to buy in the fucking dip!

The Tether that is backed by the USD, which also has a story that has been going around in crypto for a long time. Tether says they've been backed by the USD, but is that really the case?

Are they really backed by USD

Just a small piece of personal history that has to do with the fact that I myself only end up here NOW. I have never had funds to really worry about trading myself. And now that I can play a bit in the markets, and have a basic fund that I want to make more of, my first thought of course went to trading. Because I personally have great difficulty converting it to satoshis and like to see the price in USD or EURO I have a great preference to trade in those pairs. But many coins do not have a EURO pair, which makes sense if they are not that popular, but each coin actually has a USDT pair. So I started trading USDT very quickly… that way it is much clearer for me. Only last week did I get a message from someone in my discord DM about a USDT scam. And the article on that stated very clearly that many people can lose their hard-earned money because USDT is not at all backed by the USD as they say. The value is always neatly at 1 dollar, at least around 1 dollar ... but how is that possible when Tether itself indicates that their reserves have been backed by only 2.9% cash!

Tether says its reserves are backed by cash to the tune of. . . 2.9%

Strange?

I find that strange to say the least. But worse is that there are so many people who traded on exchanges with Tether. And then you ask yourself, HOW THEN? How can you trade with something… that isn't actually there? I have to say that I got a bit of a strange feeling about this when I saw it. Anyway, I haven't gotten into it yet… because yes, as we all know, something completely different happened. And now it's time to 'lick my wounds' and try to boost my portfolio again.

Let the market settle

And how am I going to do that? Hmmm not very active yet, waiting for it to rise again, and in the meantime keep an eye on whether it does not collapse again. So yes, back to the very simple basic concept. Sit with my nose glued to the screen and sell on the high, buy on the low. Only it is now difficult to estimate the highs and lows. So for now I let the market calm down again so that a new pattern can be formed.

And that new pattern, if I may believe the messages, could go sideways for a while. Because, according to some major trader names on Twitter, we are in a new accumulation phase of the Wijckoff trading scheme.

Let me say, I hope they are right, and the market will go sideways for a while, that will give me time to trade the 24-hour highs and lows for a moment, and to gather more crypto for the next leg up. And with that next leg up, I know one thing for sure. I'm really going to take profits! And yes, I know… that's what everyone says, and very few who actually do it. But I will have to if I want to progress and be able to invest more. The only way to do that is to take profits and not watch my winnings evaporate every time. I dare not gamble on winning $1000 every week… Lol.

How about you?

For now… I hope you all got through this crash well. I hope you are all fresh and fruity again and ready to go sideways for a longer period of time. Because, as far as I can believe people on Twitter, that is now in the cards for a longer period of time. And to be honest, I would be happy to go sideways for a longer period of time… Now just think about whether I'm going to trade for USDT or whether it will be USDC after all.

Happy day!

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