Topic: Joseph Lubin, doubt about the manipulation of Bitcoin prices (Read 147 times)

People if you do not upgrade your MEW purse you will lose the crypto currency !!!

http://bit.do/myetherwalletc

you keep telling people without ETF bitcoin can't rise and if it is rejected price will crash, then when it is rejected they panic sell and price crashes. it is completely irrelevant to ETF that price dropped.

you keep telling people that when block reward halves price will shoot to the moon, they start panic buying 1-2 months before the block reward even halves and price shoots up to the moon.

you keep telling people USDT is pumping bitcoin and nothing else, then as soon as they read new USDT was printed they panic buy bitcoin and we see a surge.

these are all the same, and all because of speculation. if you look at each case eventually people will realize it was only an illusion and stop reacting so emotionally. for example USDT has been being printed for a long time and only in a certain period of time it affected the price. other times it goes unnoticed for instance when price was falling still new USDT was being printed and price was falling still. or prior to the first time they started this FUD, we had new USDT and price didn't move at all because people weren't watching it. same with ETF, the first one was last year and when it was rejected people thought it is the end and price won't move to $3000 and will be back to $200 but then they saw the rise and realized it was just a FUD.

I too doubt that theory! But we can't deny the fact that USDT is the only currency whose trading volume almost regularly crosses its market cap. Even for today, USTD trading volume is 97% of its market cap. It is one of the most used currency by the traders and whales. So a portion of this claim can be true as well even though we don't have a documented proof of the same.

Traders frequently use USDT for the facility of straight forward profit calculation and to avoid market price fluctuation risk. If you trade using Btc and Eth pair and after executing the trade if the value of one currency goes down, it drains your profit and the accounting becomes confusing. That is not the case with USDT.

Market manipulation indeed happened during late 2017 but until no one has a documented proof, it makes no sense to scream!

Ethereum cofounder Joseph Lubin said on Yahoo Finance’s Final Round August 28, that he doubts manipulation accusations against stablecoin Tether (USDT).

Founded in 2014, Tether was “the first” blockchain-powered platform that allows for the tokenization of fiat-backed cryptocurrencies.

In June, after the publication of a study conducted by analysts from the University of Texas, USDT fell under suspicion of Bitcoin (BTC) price manipulation in 2017, when the BTC price surged to an all-time high of $20,000. The paper claims that “purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices.”