tdtwedt wrote:A single anonymous market manipulator caused bitcoin to top $20,000 two years ago, study shows
https://www.cnbc.com/2019/11/04/study-s ... 20000.html
A forensic study found that tethers, a digital currency, being traded for bitcoins, revealed a pattern of manipulation during the 2017 cryprocurrency boom.
“Almost the entire price impact can be attributed to this one large player,” finance professors John Griffin and Amin Shams wrote.
“One of the SEC’s top worries is that crypto is subject to manipulation. This study appears to lend credibility to that argument,” Cowen analyst Jaret Seiberg said on Monday.
Imagine if you could print unlimited dollars, or euros, or yen, or literally any other national currency that is backed by absolutely nothing and costs near zero to print. And you took that worthless currency and bought the only major international currency with a Stock to Flow ratio that will be equal to gold by May 2020, and will be 100:1 in 2024.... which still has a market cap of less than $200 Billion. The real question is, why aren't more countries doing it now (or are they?) and who are the smart ones doing it under the radar?
Don't get distracted by the white noise. Stack the sats.