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Last year, two academics concluded that the Bitcoin price rally in 2017, when BTC hit the all-time high, was caused by manipulation.
Now the research authors figured out that the surge was likely caused by a single entity. University of Texas Professor John Griffin and Ohio State University’s Amin Shams shared their updated research paper with Bloomberg where they double down on past claims that Tether, the biggest stablecoin issuer, was the sole reason the Bitcoin price surged to its insurmountable all-time high of $20,000 at the end of 2017.
Now, the academics claim that a single Bitfinex whale was actually responsible for fueling Bitcoin’s rocket to the moon.
“Our results suggest instead of thousands of investors moving the price of Bitcoin, it’s just one large one.”
In other Cryptocurrency news today, a few hours ago the Stellar Development Foundation burnt 50,000,000,000 XLM.
Ripple XRP has also been fiddling with Crypto token supply recently in a possible ploy to inflate token prices.
Stellar Lumens pumped 25% on the announcement and XRP also got a lift, but are they connected?
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