The Par
#VES /
#USDT continues to fall in Venezuela, reaching 450 Bolívares per USDT 🔥
1. The end of the "Panic Bubble"
At the beginning of January, the price of USDT soared (it reached absurd peaks of up to 900 VES per dollar) due to political uncertainty and news about the capture of key figures. Many people ran to buy dollars out of fear, which artificially inflated the price. Now that the tension has eased a bit, the price is returning to more "real" levels.
2. Injection of dollars from
#BCV It was reported that the Central Bank of Venezuela (BCV) injected a record amount of foreign currency into the banks. This makes more physical dollars available and forces the price of the "parallel" or crypto dollar to drop in an attempt to narrow the gap with the official rate.
3. Profit-taking and liquidity
Many traders who bought USDT cheaply and saw it rise so much began to sell to take their profits. With more people selling USDT on Binance's P2P, the price naturally falls due to the law of supply and demand.
4. Adjustment of the Gap
The market is looking to stabilize within a more manageable range (around 340 VES per USDT according to the latest closures), trying to eliminate the exaggerated markup that occurred in the first week of the year.
Watch out for this: Even if you see that it is falling, don't let your guard down completely. In
#venezuela , these moments of "exchange peace" tend to be short-lived.
If you need to exchange for operating expenses, it might be a good time before any other political news triggers volatility again.
your thoughts? Leave your comments and share 👇🏻