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It could be possible, but I doubt it. Here is the growth of Bitcoin before Tether was created [0]. Within 3 years, the price went from $0.05 to $1177 and then s
by andreygrehov 7y ago
It could be possible, but I doubt it. Here is the growth of Bitcoin before Tether was created [0]. Within 3 years, the price went from $0.05 to $1177 and then settled at $220. I remember there was an article claiming that even this growth was caused by a single whale [1], but again, was it really? In comparison, here is the price of Gold within the last 40 years [2]. Looking at this chart, one could say that the price was also artificially inflated during those years. And if someone chimes in claiming that of course it was, then, well, is it the nature of markets?
[0] https://imgur.com/a/D5NrGok https://imgur.com/a/D5NrGok
[1] https://techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/ https://techcrunch.com/2018/01/15/researchers-finds-that-one...
[2] https://imgur.com/a/JPOVkSk https://imgur.com/a/JPOVkSk
- empath75 7y agoThe run up to 1100 was also due to rampant fraud and theft on mtgox