Is manipulated the price of Bitcoin? A new study suggests that the suspect and bring this to the crypto-currency Tether. However, as the Stablecoin can push the Bitcoin so much?
The allegation of price manipulation in crypto-currencies, especially Bitcoin, is almost as old as the Blockchain technology itself. Again and again the authorities to pursue and future infringements to prevent a try – how about most recently in the United States. The most recent example of how companies get into the suspicion of Manipulation, delivered this week, the Exchanges, Bitstamp, Kraken, itBit, and Coinbase, the load of the CFTC. Also the Launch of Bitcoin Futures last December is critically. The trade with options is accused of the rate fall in February to engage in.
Tether: The Stablecoin of Bitfinex
Scientists at the University of Texas have published a study on the topic of price manipulation in the Bitcoin price. The Finance professors John Griffin and Amin Shams make the Stablecoin Tether responsible, which is issued by the Exchange Bitfinex. Under the title,”Is Bitcoin Really Un-Teathered?” according to the two scientists, the question of whether there is a mechanism that allows it to Tether, the price of the other crypto-currencies to rise or fall. To do this, they analysed data from CoinAPI, coinmarketcap.com, blockchain.info, omniexplorer.info and CoinDesk.
Tether, whose rate maps always tries the value of the US dollar 1:1, according to the analyzed data, a very strong correlation with the price increase of Bitcoins. Whenever a significant number of units of the crypto-currency Tether was paid out, to a large extent on the exchange value of Bitcoins. Let us look at the analysis of the data in the study. In the report it is stated:
“From the 1. March 2017 to 31. March 2018, increasing the actual Bitcoin price of 1,190 U.S. dollars to 7,000 dollars – a return of 488%. In contrast, the price series ends, excluding the 87 Tether-related hours, with about 4,100 US dollars, an increase of 245 percent. Therefore, the hours with the strongest Tether-Flow, which make up less than 1 percent of the period seem to be with 50 percent of the Buy-and-Hold income of Bitcoin.“
So it was about the Exchange Bitfinex, especially in the case of courses given a cash flow of Tether in Bitcoin. Then, marked price again increases. It smells so according to a Manipulation of the Bitcoin price by the crypto-exchange, Bitfinex, and less than one percent of the time for an entire year ranged interval.
Other Coins have been pushed
But not only the price of Bitcoin seems to be in this way, the amount has not been driven. While Tether-activities about 50 percent of the Bitcoin rise condition, the Altcoins on an average as much as 64 percent. The most striking is the correlation in Zcash (82 percent). On the other hand, Dash (42 per cent) compared with other Coins almost moderate.
How exactly these accusations, the scientists will have an impact on the future of the Bitcoin rate Exchange Bitfinex and crypto-currency Tether, is still unclear. The entire crypto market has lost in the last few days, again drastically reduced in market capital. So he fell under a total market capitalization of 275 billion dollars.