| CRYPTOCURRENCYA single anonymous market manipulator caused bitcoin to top $20,000 two years ago, study shows|
PUBLISHED MON, NOV 4 201912:02 PM ESTUPDATED MON, NOV 4 201912:20 PM EST
Michael Sheetz @THESHEETZTWEETZ
A forensic study found that tethers, a digital currency, being traded for bitcoins, revealed a pattern of manipulation during the 2017 cryprocurrency boom.“Almost the entire price impact can be attributed to this one large player,” finance professors John Griffin and Amin Shams wrote.“One of the SEC’s top worries is that crypto is subject to manipulation. This study appears to lend credibility to that argument,” Cowen analyst Jaret Seiberg said on Monday.
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A forensic study on bitcoin’s 2017 boom has found that nearly the entire rise of the digital currency at the time is attributable to “one large player,” although the market manipulator remains unidentified.