[CyberDildonics]

That happened over the course of a year and I don't think there was a massive (enough) run on tether while it was low, since it didn't stay at that price for very long. There just isn't as much activity when bitcoin is low which I think also works in tether's favor. I think they do have significant btc backing them, just no USD.

I actually wrote a comment about their dynamic two years ago when this happened.

https://news.ycombinator.com/item?id=18222578

[thebean11]

It crashed from its peak to $6k in 2 months. The bear market lasted a long time, the initial crash was pretty fast when it first happened..

[kgkyltpgllg]

It stayed at $3k for 4 months in 2018.