Crypto News 

Price manipulation campaign inflated BTC price in 2017, research finds

“Alongside BTC coin, the report also suggests similar patterns in Zcash and Ether, which experienced even faster price increases, coinciding with the decline in price trends” writes Ed Drake for coingeek.com. New research has confirmed the BTC market was manipulated in the run up to its all-time highs in 2017, accounting for as much as 50% of the price growth over the period. Source: coingeek.com Share This:

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Academics Claim Tether Used to Pump the Price of Bitcoin on the Bitfinex Exchange

“Several attempted audits of the Tether company have failed in the past year and Tether has never proven its reserves” writes Cali Haan for crowdfundinsider.com. The Tether company and the Bitfinex exchange share the same CEO, Jan Ludovicus van der Velde.The flow clusters below round prices, induces asymmetric autocorrelations in Bitcoin, and suggests incomplete Tether backing before month-ends.A finance professor at the University of Texas experienced in fraud detection has alleged that a focussed campaign to inflate the price of Bitcoin and other cryptocurrencies occurred on the Bitfinex exchange last…

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Professor Who Rang VIX Alarm Says Tether Used to Boost Bitcoin

“It fell 1.4 percent Wednesday to $6,441.17, according to price data compiled by Bloomberg” writes Matthew Leising for bloomberg.com. The analysis showed a pattern of Bitcoin price support, Griffin said.When Bitcoin’s price fell, purchases with Tether tended to increase, helping to reverse the decline.In the cases examined, new Tether had been issued within the prior three days, and Bitcoin’s price had fallen in the prior hour. Source: bloomberg.com Share This:

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Bitcoin is slipping after study claims its 2017 bull run was driven by market manipulation

“Tether issuances cannot be used to prop up the price of Bitcoin or any other coin/token on Bitfinex.”” writes Oscar Williams-grut for businessinsider.com. The price has rallied slightly since then and bitcoin is down 1.5% against the dollar as of 11.25 a.m.Tether is a cryptocurrency supposedly backed by the US dollar one-for-one, offering the stability of the currency but the flexibility and functionality of cryptocurrency.Prominent sceptic Bitfinex’d, an anonymous Twitter user, has long argued that Tether was being used to manipulate the price of bitcoin by propping up demand. Source: businessinsider.com…

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Bitcoin trading volume hits record high

“Volume records were taken out on Thursday, when the No. 1 digital currency rose more than 15%, trading to $8,000 for the first time in two weeks” writes Aaron Hankin for marketwatch.com. After some consolidation, the price of bitcoin steadied just below $8,000, last at $7,689.00, up 10.8% on the day.The price of bitcoin BTCUSD, +1.20%  moved from below $7,000 to above $8,000 shortly after 7 a.m.This was up until yesterday the total number of open bitcoin short positions on Bitfinex reached a 6-month high of 40,000 open shorts, while…

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Coinbase says it will roll out support for a Bitcoin network update called SegWit to all customers by next week; Bitfinex announced support for SegWit today

“Coinbase, one of the most popular cryptocurrency exchange platforms, just announced it is rolling out a bitcoin network update called SegWit” reports ibtimes.com. Bitfinex, another leading bitcoin exchange, also announced upcoming SegWit support on Monday. “The SegWit implementation means Bitfinex users can benefit from lower BTC withdrawal fees (approximately 15 percent) and improved processing times on transactions across the Bitcoin network,” the Bitfinex team said in a blog post.So the bitcoin community rejoiced when Coinbase tweeted plans to launch SegWit support for all their customers by next week.The bitcoin network…

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Bitfinex to Build Decentralized Exchange EOSfinex on the EOS.IO Platform

“EOS.IO and Bitfinex have partnered up to build the first decentralized exchange to be built on the EOS.IO technology” reports financemagnates.com. The partnership between the proven and reputable cryptocurrency exchange Bitfinex with EOS.IO serves to prove the potential of the platform.The new project is said to deliver an “on-chain” exchange designed to offer a fast, transparent and trustless platform for the trading of digital assets.Commenting on the announcement, the CEO of Bitfinex, J.L. van der Velde, said: “We are excited to leverage EOS.io to further advance the field of high…

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