Bots are increasingly manipulated exchange rates of cryptocurrencies. Should you be afraid of?
Source:
In cryptocurrency market are many scams. Participants with varying degrees of success trying to get unscrupulous players, but this time the blow came from where did not wait. It turned out that along with the crooks of large funds use bots and automated trading system for the manipulation of the exchange rate of Bitcoin.
Automated trading systems — a common phenomenon for both cryptocurrency and traditional financial markets. They allow you to pre-set rules on the purchase or sale of assets and seriously simplify the work of the trader. However, such systems can be used for manipulative purposes.
theWho influences the exchange rate of Bitcoin?
Bots operate freely in the market because of the lack of laws governing the industry. Co-founder and President of a startup CoinList Andy Bromberg said that now the market is thriving precisely this type of fraud. Activity bots harms the entire industry and individual investors, he added.
The Foundation's Representative Virgil Digital Capital with a volume of $ 80 billion said that the company has to fight with bots for operations on the market. Once the Fund lost a large amount because of the actions of automated trading systems.
Strategy bot was similar to "spoofing" — the practice in which investors place a lot of orders with a view to their eventual elimination. Other market participants see the demand for the coin and also start to buy it. This strategy was declared illegal in the U.S. stock and futures markets in 2010, but in the stock market it has been used successfully.
Another example was developed by trader software Quatloo Trader, which he calls the best tool for manipulating the stock market. According to the developer, to prohibit the manipulation of meaningless reports . Unscrupulous parties will find ways to manage the exchange rates of the coins and the demand for them.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Down with centralization: how the new algorithm ProgPoW will help in the fight against ASIC mining
the Team EOS Classic recently reported on the status of implementation of the algorithm ProgPoW in Geth, the official Go client for the Ethereum. It happened almost immediately after the head of security Ethereum Foundation Martin...
on the Eve edition of the Wall Street Journal in its investigation cryptocurrency exchange ShapeShift is one of the biggest culprits in laundering criminal money through coins. A few days later the CEO of trading platform Eric Voo...
recently, the customs departments of Australia and New Zealand came into force new restrictions for entering the country. Now the customs officers will be forced to select passwords from smartphones and laptops. Those who refuse t...
The developers Siacoin will hold hardwork against ASIC miners from Bitmain. But not so smooth
the Developers of the coin Siacoin (SC) announced a hard forks for exclusion from the network ASIC miners from Bitmain and Innosilicon. The upgrade to version 1.3.6 is scheduled on 31 October, said in a statement. Originally, the ...
Analyze graphs: should I buy Ethereum Classic this week?
Ethereum Classic soon may rise against the dollar. At least, this is indicated by technical indicators 1-hour chart of cryptocurrency. the Overall situation looks like this: the the the price of the asset konsolidiruyutsya just a...
Mont crypto: in Paris opened an exhibition of the tenth anniversary of Bitcoin
Bitcoin will Soon be 10 years old. In honor of this event, artists from around the world arranged the first exhibition dedicated entirely to cryptocurrencies. It will be held in France. About it writes . the Exhibition opened on 2...
Over the past couple of years, mining has evolved considerably. Now this is not just an interesting hobby for the geeks, but also a promising business direction. Now in the niche is born a lot of really cool projects for mining ma...
Good dog: Dogecoin is preparing for a new leap to the moon
Even if the previous week did not bring us any interesting news with trading Dogecoin fronts, from that day things can change. Dogecoin managed to please investors with unexpected growth, but the coin still have potential bullish ...
Monero launch website to protect against covert mining. How it will work?
the Developers of the coin will launch a new educational website which will help data center owners and others to protect their money from scammers and to calculate and malware on your computer or smartphone. This writes with refe...
A Chinese billionaire has ceased to invest in the ICO and blockchain startups. Why?
Chinese billionaire and founder of the venture capital Fund BitFund Whether Saali ceased to invest in the blockchain startups and ICO projects. He stated in his blog platform Weibo. The message drew the attention of the employees ...
The release of xRapid. What was the reaction rate of the Ripple?
After several months of development team Ripple has finally unveiled one of the most anticipated products — xRapid. Now the cryptocurrency can be used more effectively for cross-border payments. In addition, xRapid should be the m...
The end of mining? The government wants to establish a norm for consumption
Russia may be a social norm of electricity consumption, above which the cost of energy will rise sharply. This is stated in the project of the Ministry of energy and Ministry of economy, which has endorsed Deputy Prime Minister Dm...
To sum it up: the best and worst investments September
September was a good month for the stock market. After a slight pullback in mid-August, things became worse, and cryptocurrency rushed to search for a new bottom. September 12 was the worst day in 2018 — then the market capitaliza...
Ripple rocket: when a coin jumps to one dollar?
From a fundamental point of view, Ripple, experienced a lot of events in the upcoming month. Also this month will release xRapid, and the cryptocurrency even appear on the Forex market. A detailed analysis of the market status of ...
Pirates for joy: for distributing files via BitTorrent will give tokens Tron
it Seems that the BitTorrent purchase was not in vain to organize Tron Foundation. After another update p2p client users torrent will be able to get the crypt for distributing files. About it writes . How to easily earn bitcoin th...
When will be the growth rate of Bitcoin? An expert forecast
Bitcoin is ready for growth, and the bulls will come on the market in the near future. This was stated by the founder of the Bank Galaxy Digital Mike Novogratz, his words are quoted . the Analyst said that the growth may begin in ...
Revolution: Binance working to create its own decentralized exchange
the Largest crypto currency exchange Binance will launch its own decentralized marketplace (DEX) to the end of the first quarter of 2019. We will remind, earlier CEO Binance, Chanpen Zhao that decentralized exchanges are the futur...
Analyze graphs: whether the rise of Bitcoin this week?
the Symmetrical triangle on 4-hour chart, it seems, is the key impediment to Bitcoin. the Overall situation looks like this: the the the price of bitcoin has broken the upper line of the triangle, but again fell back down to test...
Comments (0)
This article has no comment, be the first!