Remember Bitcoin’s inflated price surge last December? Well, according to a University of Texas study, authored by John Griffin and Amin Shams, later reported by the New York Times, half of that price surge was due to price manipulation.

Fraud in all its various forms has been a consistent feature in the history of finance, and so why shouldn’t it be expected in this new and emerging form of alternative money? However, this calls into question whether the 2017 price spike was truly due to investor demand.


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