The price of Bitcoin is manipulated with Tether

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2018-06-14 20:30:04

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The price of Bitcoin is manipulated with Tether

Market makers used the tokens Tether for artificial pampas of Bitcoin prices in 2017. The investigation into the manipulation of the cryptocurrency held professors of the University of Texas John Griffin and Amin Shams. It is reported .

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Tether inflates the bubble crypt

His thoughts researchers published a 66-page report titled "is Bitcoin independent of the Tether?". A coin with a straight peg to the dollar was used repeatedly for the sharp UPS and downs of the cryptocurrency rate.

In General, the Tether has a significant impact on the entire stock market. Coin and is now used for long-term manipulation of the price of Bitcoin. Less than one percent of all transactions Tesera in the short term associated with the sharp rise of the main cryptocurrency and altcoins.

The assumption about the inflow of new investors and Griffin Shams reject. According to them, pouring new coins in the USDT market capitalization has nothing to do with the investment. In fact, the coin is not even fully backed by the dollar.

In proof of his assumptions, Professor lead price movements of Bitcoin over the past few months. This year, dramatic changes in rates of cryptocurrencies practically coincide with the release of new coins USDT. That is first produced is not supported by the new dollar coins to support Bitcoins, and then merges the cryptocurrency for new recruits, the dollar reserve of the company.

Earlier, Tether time and again in opaque schemes issue of new tokens. In December of this year the company came under the scope of the CFTC. The regulator had intended to open an investigation about the connections USDT manipulation on Bitfinex exchange.

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