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Suspicious Trading May Have Boosted Bitcoin Value from $150 to $1,000

11:53 am on Jan 16, 2018 (gmt 0)

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Researchers into Bitcoin price manipulation point to suspicious trading activity that may have boosted Bitcoin's value from $150 to $1,000.
“This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin currency exchange, in which approximately 600,000 bitcoins (BTC) valued at $188 million were fraudulently acquired,” the researchers wrote. “During both periods, the USD-BTC exchange rate rose by an average of four percent on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, the paper demonstrates that the suspicious trading activity likely caused the unprecedented spike in the USD-BTC exchange rate in late 2013, when the rate jumped from around $150 to more than $1,000 in two months.” One Person May Have Boosted Bitcoin Value from $150 to $1,000 [techcrunch.com]

I'm not surprised by the idea of bad actors taking advantage in this way.
7:13 pm on Jan 19, 2018 (gmt 0)

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How surprising, people manipulating a completely unregulated market, through an exchange that is notorious even by the standards of that market. No one ever saw that coming.
8:32 pm on Jan 19, 2018 (gmt 0)

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Wow that's a big number