Bitcoin has been all the rage in recent years for anyone
interested in the so-called “dark web” or in making a quick buck. However the
value of bitcoin isn’t always what it appears to be. The New York Times article
Bitcoin’s Price Was Artificially
Inflated, Fueling Skyrocketing Value, Researchers Say (https://www.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html) reports on University of Texas finance professor John Griffin and graduate
student Amin Sham’s paper on the artificial inflation of bitcoin value. The
report found that “much of
Bitcoin’s skyrocketing gain last year was caused by the covert actions of a few
big players, rather than real demand from investors (Popper).” These
under-the-table price hikes “may have accounted for at least half of the
increase in the price of Bitcoin (Popper).”
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