BITCOIN PRICE RALLY IN 2017 CAUSED BY ONE WHALE?! | Stellar Lumens (XLM) Crypto Supply Manipulation?

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Last year, two academics concluded that the Bitcoin price rally in 2017, when BTC hit the all-time high, was caused by manipulation. Now the research authors figured out that the surge was likely caused by a single entity. University of Texas Professor John Griffin and Ohio State University’s Amin Shams shared their updated research paper with Bloomberg where they double down on past claims that Tether, the biggest stablecoin issuer, was the sole reason the Bitcoin price surged to its insurmountable all-time high of $20,000 at the end of 2017. Now, the academics claim that a single Bitfinex whale was actually responsible for fueling Bitcoin’s rocket to the moon. “Our results suggest instead of thousands of investors moving the price of Bitcoin, it’s just one large one.”

In other cryptocurrency news today, a few hours ago the Stellar Development Foundation burnt 50,000,000,000 XLM. Ripple XRP has also been fiddling with Crypto token supply recently in a possible ploy to inflate token prices. Stellar Lumens pumped 25% on the announcement and XRP also got a lift, but are they connected?

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Show Notes / News Resources:
https://bitcoinist.com/bitcoin-2017-surge-caused-by-single-entity-bloomberg/
https://u.today/bitcoin-price-rally-in-december-2017-was-orchestrated-by-one-whale-research
https://twitter.com/crypto/status/1191235935314284544
https://twitter.com/gaborgurbacs/status/1191321315870945280
https://twitter.com/AriDavidPaul/status/1191333924821229569
https://www.newsbtc.com/2019/11/05/has-stellar-xlm-followed-ripple-xrp-with-massive-crypto-supply-manipulation/
https://twitter.com/meinharrd/status/1191494531184611328
https://twitter.com/Josh_Rager/status/1191509625822208000

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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Post Author: CoinCryptoNews