{"id":6738,"date":"2018-06-21T00:00:00","date_gmt":"2018-06-21T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/06\/21\/tether-use-bitcoin-manipulation\/"},"modified":"2018-06-21T00:00:00","modified_gmt":"2018-06-21T00:00:00","slug":"tether-use-bitcoin-manipulation","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/tether-use-bitcoin-manipulation\/","title":{"rendered":"Tether was used to manipulate the price of Bitcoin according to a recent study"},"content":{"rendered":"
If you\u2019re one of those patiently holding your Bitcoin, waiting for the next race that gives you a great benefit, that may be a long time coming. This is because there have been insinuations that the Bitcoin market could be manipulated. A team of researchers are saying that the steep rise in value experienced by Bitcoin may have been as a result of behind-the-scene activities of market manipulators.<\/p>\n
With Bitcoin down to about 50 percent of its December value, there has emerged indications that the coin rise to prominence in 2017 was as a result of manipulations with the stable currency, Tether which was created by Bitfinex<\/a><\/strong>, an exchange registered in the British Virgin Islands.<\/p>\n Nouriel Roubini, an economist called it \u201cthe mother of all crypto scams\u201d<\/em><\/strong> and wondered when investigators will do the job of sending those involved to jail. The first allegation about Tether <\/a><\/strong>appeared last year when a blogger with the pen name of Bitfinex\u2019ed<\/em> alleged that the cryptocurrency was being printed \u201cout of thin air\u201d contrary to the impression that every tether is backed by a dollar.<\/strong> With $2.2 billion worth of tether in circulation, the so-called stable currency should have equivalent value in the bank.<\/p>\n