I would be surprised if the price of bitcoin was not manipulated - Macroeconomist Forbes

I would be surprised if the price of bitcoin was not manipulated – Macroeconomist Forbes

By

I would be surprised if the price of bitcoin was not manipulated – Macroeconomist ForbesIn a column for Forbes macroeconomist Peter Tchir said that he would be surprised if he learned that the course of bitcoin is not influenced by manipulators.

“Whether this activity corresponds to the legal definition of manipulation, or whether it can lead to criminal prosecution, remains to be seen, but I would be shocked if no manipulations were made. Never forget the second of the “Three rules of bitcoin”: no rules! “- he writes, referring to one of his past publications.

According to Tchir, “whales” and miners have a personal interest in the growth of bitcoin prices. Miners, for example, tend to increase their income from the production of cryptocurrency, while “whales” act on the principle of large players in traditional markets, accumulating a large part of assets.

Nevertheless, Tchir does not take into account that whales can also win during the depreciation of bitcoins, opening short positions and buying up the cryptocurrency at lower prices, thus strengthening their position in the market.

A week ago, Bloomberg published an article in which he talked about the ongoing investigation of the US Justice Department and the Commodity Futures Trading Commission. The authorities suggest that traders can enter fictitious transactions in the cryptocurrency market in order to create the appearance of active trade and induce buying or selling assets of other market participants.

Tchir also draws attention to the weak regulation of this segment and notes that the market “stalled” because of a series of problems hampering the distribution of cryptocurrency. In addition, in his view, the unrealized predictions about potential growth against the backdrop of the Consensus conference further cooled the enthusiasm of traders. According to Tchir, the combination of these factors has shaken the confidence of investors in the market.

Leave a Comment

Your email address will not be published.

You may also like

Hot News