Can USDT lose its value?

Could you please elaborate on the potential for USDT to lose its value? I've been hearing a lot about the stability of this cryptocurrency, but I'm also curious about the risks involved. Given the volatile nature of the crypto market, I'm concerned that USDT might not be as stable as it's purported to be. Could you explain what factors might affect its value and whether investors should be cautious when holding USDT? Thank you for your insights.