Published on July 13th, 2018 | by bitcoin0
Bitcoin price statistics manipulated by Tether in 2017
In practice, just as Bitcoin, all the Tether transaction chain or ledger is public and can be accessed through https://www.omniexplorer.info.
In the following plot I show the Tether printing events (gray vertical bars) corresponding from March 2017 to July 2018, together with the cumulative printed Tether in red, the Bitcoin price evolution and the Bitfinex/Tether subpoena issuance the 6th of December of 2017.
Bitcoin prices have been obtained as 1-h candlesticks from the Coindesk Bitcoin Price Index.
Therefore, the idea is that the Bitcoin bubble, that reached almost 20k in value, was a consequence of a synchronized orchestra of Tether printing and Bitcoin buying events in response to transient Bitcoin price dips.
Conclusions and personal opinionIn this article we have explored the effect of Tether printing in the manipulation of Bitcoin price.