The bears
are firmly in control of the cryptocurrency market, as Bitcoin and all the other coins have been on a free fall since Sunday. All tokens have been losing value consistently since late May, and there’s no telling when the bleeding will stop.
More disturbing, a new study now claims that Bitcoin’s incredible bull run last year was the result of manipulation via the use of a different token called Tether, which has seen its own share of controversies since its emergence.
For those of you not familiar with Tether, it’s a token meant to help traders buy and sell cryptos for US dollars across exchanges and increase the speed of transfers. Rather than worry about fiat transfers, you can convert your money into Tether, and then do whatever you want with them in the crypto world. Every single Tether should always be valued at $1, and each Tether should be backed up by a real dollar. That sounds great on paper, and it’s supposed to provide security to Tether users.
That’s because Tether should not be affected by bull or bear runs that routinely affect the crypto market. In fact, Sunday’s bloodbath did not affect the digital currency. So that’s all great news, yes?
More here,
http://bgr.com/2018/06/13/bitcoin-price-today-vs-ethereum-vs-ripple-vs-eos-manipulation/