Bitcoin exchange rate depreciate manipulation and scandals cryptocurrency
Stock Markets Group – bitcoin exchange Rate today, 14 June, increased slightly, but is still below the psychological mark of 6 500.
The Bitcoin price throughout yesterday’s trading session at the moment have reached level 6$ 200, that was the first time this year. After the February low, could not resist in the future we can expect new failures, even considering a short stay.
Most altcoins first tier show moderate growth. So the Bitcoin exchange rate Cash increased by 2.31% and is at level 862$ 895 capitalization of 14 billion dollars. Course Ripple rose by 2.86% to reach 0.54$ at market capitalization 21 673 billion. Ethereum strengthened down 1.54% and reached 483$ in market capitalization 48 649 billion.
12:20 a.m., the main cryptocurrency platforms display these values of the rate BTC/USD:
Bitstamp – $ 6 522 (+3.27%)
Bitfinex – $ 6 520 (+0.5%)
Coinbase – $ 6 524 (+3.1%)
The market capitalization of Bitcoin at the moment is $111 323 billion Total capitalization of the stock market 279 294 billion.
The bitcoin exchange rate and the manipulation of the Tether
In the next issue of the New York Times, researchers from the University of Texas John M. Griffin and Amin Shams have found that to support the exchange rate of bitcoin and manipulate the cryptocurrency used Tether. This is evidenced by the algorithmic model of transactions, in the period of active growth of the most popular cryptocurrencies.
“The active growth of bitcoin in December of 2017, when cryptocurrency reached $ 20,000, was connected with the Tether and the Issuer of the token Bitfinex”
“Using algorithmic analysis, the blockchain network, we found that active buying bitcoin for Tether, be in periods of falling home currency. Transactions conducted on the network using a Tether associated with a 50% growth rate of bitcoin and 65% growth of other cryptocurrencies”
As noted in the New York Times, this study gives reason to assume that the growth rate of bitcoin was caused by the manipulation of several big players, and not the real market demand from the investors.
Besides Tether is not the first time gets to a similar history, since the end of last year, when the additional issue of bitcoin has led to a sharp change in the value of bitcoin on the market.
Studies that provided by John M. Griffin and Amin Shams, give rise to doubt in the true leadership in the world of bitcoin, and once again confirm the hypothesis of a “bubble” that will burst sooner or later. Or maybe he had already burst, and many just don’t want to admit?
Bitcoin exchange rate today
A small increase, caused by fixation of profit on another important level, 6 500$, we do not consider as a signal for the price reversal.
Moreover, recent days have caused too many ripples no doubt the bitcoin whales regarding the advisability of investing in cryptocurrency, which is first controlled by a small number of owners and miners. And secondly exposed to the open manipulation causing sharp movements, often not in favor of the investor.
Today, the price of the most popular cryptocurrency is still under level 6 $ 500, what for some participants of the market looks like hope at the beginning of growth.
However, in range yesterday, has been a lower level of 6 200$-6$ 100 and it is a clear signal for the bears, on the prospects of Bitcoin.
The collapse of the cryptocurrency market, the main theme of the last week, that’s according to experts like the dot-comas. And don’t forget that in the end we got such it giants as Google and Facebook. Therefore, to put the predictions on what will happen if the situation happens again no one can.
We assume a small growth rate of bitcoin is above 6,500, but long quotes will not stay at this level.
Market analyst cryptocurrency
Stock Markets Group™