November 4, 2019 One entity manipulated Bitcoin’s 2017-2018 increase, an academic paper argues.

In a peer-reviewed, updated article to appear in the Journal of Finance, Drs. John Griffin and Amin Shams of Texas and Ohio State Universities conclude that bitcoin (BTC) purchases on the Bitfinex exchange increased whenever the price fell by specific increments, based on a study of tether and bitcoin transactions made from March 1, 2017 to March 31, 2018. The results suggest a single large investor moved the period’s 2,000% increase, rather than many, claim authors. Bitfinex continues to deny that the paper’s claims have merit; Bitfinex General Counsel Stuart Hoegner released a statement denouncing the study’s methods and motivations.