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It is proven that Bitcoin's 2017 price spike was an artificial manipulation linked to another coin, Tether. Tons of outlets are reporting this shameful, damaging story, which according the the crypto subs, is good for Bitcoin.
This is a complicated story, but there is a coin called Tether which is supposed to be a more "safe" way of exchanging cryptocurrencies because the company claims that each Tether coin is backed by their massive reserves of US dollars. It's been common knowledge for a long time that these reserves do not exist, and therefore Tether and its parent company, Bitifinex, are committing some serious fraud. After Tether was raided by the authorities a few months ago, anyone with two brain cells to rub together could see this meant Tether was a big old illegal scam. News outlets are now running a story about how the 2017 price spike that propelled Bitcoin into the mainstream was likely due to Tether fraud
The 66-page report states that Bitfinex might have used the virtual coin Tether, which it owns, to generate fake demand for bitcoin by buying up the virtual currency and keeping its price up while it sank at other exchanges. The paper found that the more Tether entered the market, the higher cryptocurrency prices would rise, “similar to the inflationary effect of printing additional money.” By using algorithms to analyze the millions of transactions listed on public ledgers, the researchers discovered that half of bitcoin’s price increase last year occurred hours after Tether was passed along to several other exchanges. Tether usually exchanged hands when bitcoin’s price was flagging. Although the report can’t confirm price manipulation, it does point to suspicious patterns. Exchanges that had support for Tether saw the prices of coins like ethereum and Zcash rise higher than on exchanges that did not support Tether. And the report found that this year, after Bitfinex cut the supply of Tether short, the pattern ended
So now we have academics writing hit pieces about Bitcoin? Let's get this straight... A professor and a graduate from the University of Texas, finance department, felt it necessary to write a detailed 66 page analysis of the role of Tether in the 2017 rise of Bitcoin. The paper is quite polished; it must have taken at least five or six months. Further, there's at least 5 "contributors" mentioned below the abstract. Where is the transparency regarding the motivations of Mr John Griffin and Amin Shams? Who financed this project? How is this any more than a glorified "academic" hit piece, arguably just as manipulative as the practices it condemns?
Should we make a paper with media manipulation to break btc support? So tether FUD is really back? Some stupid university made a paper about it and people believe it? Based on lots of assumptions without any evidence.. really? Maybe we should create a paper about media manipulation acting together with whales to break btc support?
source For my last link, I give you this post where a dude writes a wonderfully cringey screed that calls the Tether fraud "no big deal"
So I see that everyone and their grandmother is talking about BTC again. Is this just like 2017 when your Uber driver tried to explain BTC to you just prior to the crash or is this actually mainstream acceptance leading to sustained/increasing price levels? (x-post from /r/Bitcoin)
In 2020, one of the most popular investments in the financial world has been cryptocurrencies such as Bitcoin. In 2017, most cryptos increased their prices several times over, and now it’s high time to consider what virtual currencies deserve attention in 2020.
Bitcoin price is still rising. Experts predict the future rise for Bitcoin price as in 2017. 4 June 2019 $7,750 The price of bitcoin fell by more than 10%. 15 June 2019 $8,700 The price of BTC has risen above $ 8,000. Experts claim that the 2015 pattern is repeating. 16 June 2019 $9,311 Cryptocurrency updated the annual maximum at around $9000 Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. Skip to content. Prices. Products. Company . Earn crypto. Get $171+ Sign in. Get started. Price charts Bitcoin price. Bitcoin price (BTC) Add to Watchlist $ 13,070.01 +0.56%. 1h. 24h. 1w. 1m. 1y. all. $0.0000 January 1 12:00 AM. 10:56 AM 3:06 PM 7:17 PM 11:27 PM 3:38 AM ... A Bitcoin wallet can be a lot safer than a bank account. Cypriots learnt this the hard way when their savings were confiscated in early 2013. This event was reported as causing a price surge, as savers rethought the relative risks of banks versus Bitcoin.. The next domino to fall was Greece, where strict capital controls were imposed in 2015. On 1 September 2017, the Bitcoin Price passed US$5,000 for the first time, topping out at US$5,013.91. 12 September 2017: $2900: Bitcoin Price dipped harshly from China's bitcoin ICO and exchange crackdown. 13 October 2017: $5600: Bitcoin Price shot back up as the world moves on past the incident following China's crackdown. 21 October 2017: $6180 Bitcoin Price hit another all time high as the ... Bitcoin's price started the year off by crossing $1,000, culminating with a run that brought it close to $20,000.
Where do I think bitcoin will be in December 2017. hopefully a lot lower than it is today so I can buy more for less. Anything heres a historical analysis us... Monte Carlo simulation of the Bitcoin price up to April 2017 Normal distributed with drift. Bitcoin is in a consolidation triangle. The question is: will it break to the upside or to the downside? My account on steemit is @myfinanceteacher. To ring in the new year, today I discuss what I believe to be the most valid price prediction for 2017, along with some of the headlines I look forward to fo... BITCOIN PRICE HASN'T DONE THIS SINCE 2017! BTC SIGNALS THE BULLS ... The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price price moves very in a ...