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Bitcoin now hovers around £4,700, but not long ago it had spiked to nearly £15,000 per coin. Sceptics have wondered how such a rise was even possible, and a paper authored at the University of Texas suggests a fairly reasonable answer: price manipulation!
Specifically Amin Shams and Professor John Griffin’s 66-page paper looks at the relationship between Bitcoin and Tether, a “stablecoin” supposedly backed by and pegged to the US dollar. The paper, as summarized in the New York Times, “identified several distinct patterns that
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