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Bitcoin exchange rate Manipulation: a Single whale should have triggered an all-time high

The price of Bitcoin has reached in December 2017 be an all-time high of just under $ 20,000. According to the new information for a single "BTC whale is about

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Bitcoin exchange rate Manipulation: a Single whale should have triggered an all-time high

The price of Bitcoin has reached in December 2017 be an all-time high of just under $ 20,000. According to the new information for a single "BTC whale is about to be" out of the haze of the circle of crypto-market square, BitFinex, and stablecoins Tether (USDT) responsible.

By Phillip Horch
4. November 2019 BTC $ 8,224.55 -3.72% part Facebook Twitter LinkedIn xing mail

Update at 6. November: article to quote from John Griffin added.

That there should be, Bitcoin price Manipulation, is already been discussed for a Long time. Published by John Griffin of the University of Texas and Amin Shams from the States University of Ohio to 2018 in a scientific Paper, in which they found the crypto-exchange BitFinex under the suspicion of the Bitcoin rate to manipulate.

Bitcoin price Manipulation in the Tether-haze

The Stable Coin Tether, which is closely linked to the stock market crash, is suspected to influence the crypto-market. As it says in the study:

By using Algorithms to Blockchain-analyze data, we have found out that Tether purchases with declines in the markets fell together, and in the rise in the Bitcoin exchange rate resulted.

As you can read on the BTC ACADEMY in Detail, the promise of Stable Coins how to Tether especially, a fixed value map. A unit Tether (USDT) is therefore equivalent to one US Dollar – so the promise of the Tether Limited. This combines the advantages of Cryptocurrency with the stability of state currencies: stablecoins you can act quickly, without a loss of Value to fight. In short: Tether is good to go in a short period of time between crypto-currencies and the U.S. Dollar.

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on the Other hand, Tether is at least as well, in order to influence the Bitcoin rate. Due to the fast exchange between the US Dollar and the BTC you can. the market in a short time with Sell and Buy Orders flooding, which, in the end, purchase-signals of interest

Tether is printing dollars in a matter of seconds

The Problem: Tether may Tether, theoretically, in a matter of seconds to print. Although it provides according to ensure that for every digital printed Tether a US Dollar in one Form or another, is deposited. On the actual cover, and legality of the Stable Coins, however, there was always a doubt. Accordingly, it is said in the scientific Paper to create a Bitcoin-price-Manipulation by Tether:

The pattern [suggest] that it is not investor demand, but unsecured, digital money that is the crypto-inflates prices.

in other words: John Griffin and Amin Shams from both of them, that Tether is not covered, as well as the company, therefore, influences the Bitcoin price.

Bitcoin price Manipulation by an entity

As Bloomberg now reports, the Paper an Update soon. The Explosive: The Bitcoin price Manipulation to be a single entity, a Bitcoin whale. Bloomberg quoted Griffin as follows:

Our results indicate that instead of Thousands of investors, only a single influence the Bitcoin rate.

Further, all the way to the fact that the transactions would fall under the Radar of the stock exchanges. It is said in the new study, according to Bloomberg:

This pattern is only available in periods after the pressure of Tether available, powered by a single large account holders and under the Radar of other exchanges. Simulations show that these patterns are most likely coincidental. This is a great player, or this company was either a clairvoyant market timing, or had a extremely large influence on the Bitcoin price, which is not observed in the total of other smaller traders flock to.

Tether have denied the accusations to the Bitcoin-rate Manipulation immediately. The news magazine further reported, that according to Tether lawyer Stuart Hoegner an attempt to support a "parasitic suit". The study itself was based on a lack of data. The growing Tether needs to be rather the result of a growing interest of the Public.

At the request of BTC-ECHO John Griffin responded to the Tether accusations:

There are no shortcomings in our study. In the past, it was always that scammers are facts, not attacking until it goes.

BitFinex is A Bitcoin exchange in the grip of the authorities

the argument about The Bitcoin exchange BitFinex, which is staffed and organizationally tight with the Tether, not tear off under the. In addition to the current allegations to the Bitcoin price Manipulation of the crypto-trading space compared to a lawsuit to have 850 million US dollars in client funds misappropriated. In addition, it is due to massive market manipulation in court.


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