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Bitcoin’s value was artificially inflated final 12 months, researchers say

A concentrated marketing campaign of value manipulation might have accounted for at the least half of the rise within the value of bitcoin and different large cryptocurrencies final 12 months, in line with a paper launched on Wednesday by an instructional with a historical past of recognizing fraud in monetary markets.

The paper by John Griffin, a finance professor on the College of Texas, and Amin Shams, a graduate scholar, is prone to stoke a debate about how a lot of bitcoin’s skyrocketing acquire final 12 months was brought on by the covert actions of some large gamers, reasonably than actual demand from buyers.

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