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Perspective. We didn't know it at the time, but looking back it's pretty obvious. Once the issue of the forks and the SegWit activation was cleared, the price r
by josu 8y ago
Perspective. We didn't know it at the time, but looking back it's pretty obvious. Once the issue of the forks and the SegWit activation was cleared, the price rose relatively fast.
And I'm talking in relative terms; it was undervalued relative to what happened next.
- Jasper_ 8y ago> Once the issue of the forks and the SegWit activation was cleared, the price rose relatively fast. Yes, we know the ship is unsafe because otherwise the front wouldn't have fallen off! We know the price rose. This article is suggesting that the price rose not because it was undervalued, but because it was manipulated upwards by people pumping it up with fake numbers.
- josu 8y agoNo, that's not what the paper states. >From March 1, 2017 to March 31, 2018, the actual Bitcoin price rises from around $1190 to $7000 for a 488% return. In contrast, the price series without the 87 Tether-related hours ends at around $4100, a 245% rise >These 87 events account for less than 1% of our time series (over the period from the beginning of March 2017 to the end of March 2018), yet are associated with 50% of Bitcoin’s compounded return They don't claim that all the price increase is correlated with Tether, but that it was certainly a big factor.
- pbhjpbhj 8y agoSurely the price rose because people thought it would, self-fulfilling prophecy. Done of those people thought it would because that's how they were trying to pull the market. The people behind articles like this are presumably short on BTC.