Nubits was another "pegged at a dollar" coin that used some trading bot to maintain its peg, it got hammered hard and went down to 40ish cents lol, it's at 45.8559 cents right now. I think bitusd at 1.06 right now is a combination of people not wanting to get taxed by going to centralized exchanges, and them never having read https://prestonbyrne.com/2017/12/10/stablecoins-are-doomed-to-fail/
Well waking up to these prices sucks, but I guess the long game is in mind for individuals like yourself and I'm sure actual fiats have a lot to fall with all the printing that went on.
Pegging is for regulated markets.. crypto is anything but.. lol. Hmm can't say for sure, i might even lose it all tomorrow, but whatever.. i think crypto has more upside and won't totally die off
Unfortunately unless someone has total insider information at both the exchanges and Tether and all the central banks of the world it's hard to tell what will happen to prices in general... well, even so I can see crypto perhaps losing some energy as speculation dies down and excess money from the high liquidity/easy credit period goes away, but recovering a lot and maintaining a strong baseline when sovereign nations start to experience credit crises and talks of haircuts to debt or straight up defaults take place. But then it's up to where one lives because individual countries will assess how strong/weak they perceive themselves to be in the face of crypto as a new capital flight tool, just my thoughts on how it might play out.