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Market manipulation was key factor in Bitcoin's bull run, researchers say

2 monthes ago   |   By The Next Web

According to a new paper by University of Texas finance professor John Griffin, and graduate student Amin Shams, Bitcoin's price may have been artificially inflated in its run-up last December to nearly $20,000 per coin. It was just seven months ago that some of the internet's most insufferable assholes told anyone that would listen about the newest force in the global currency market. It was a coin, made of digital 1's and 0's, that would disrupt the very idea of currency, a project so revolutionary that we'd all be rich, if only we had the resolve to “HODL.” And some...
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Bitcoin's rise might be linked to price manipulation, study indicates

Bitcoin's rise might be linked to price manipulation, study indicates

2 monthes ago   |   By The Verge

The rise of cryptocurrency prices last year, including bitcoin, ethereum, and altcoins, could have been largely caused by price manipulation, according to a paper published today by researchers at the University of Texas at Austin. The paper, co-authored by a finance professor who is known for catching fraud in financial markets, reveals several distinct patterns in trading that suggest several people or a person at the major cryptocurrency exchange Bitfinex inflated virtual coin prices.
The 66-page report states that Bitfinex might have used the virtual coin Tether, which it owns, to...
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