The researchers figured out does the Tether on the price of bitcoin

0

The researchers figured out does the Tether on the price of bitcoin

A month ago a study was published on Tether (USDT), which the authors tried to prove that stablon was used to manipulate the price of bitcoin and other cryptocurrencies. However, the new work does not confirm this statement and presents new evidence.

Many have noticed that the price of bitcoin was somehow connected with the trading volume of the Tether, and came to the conclusion that stabilin inflates the price of the home currency. In a paper published in January 2018, this view was also maintained, and in addition, it was alleged that the company “printed money out of thin air” with the aim of Pampa bitcoin.

Lecturer in Finance UQ Business School Wang Chun Wei found that these assets really are not related. The only fact that links them together is that the volume of stocks of Tether increases when the price of bitcoin is declining, but this is nothing new.

On the other hand, it seems that the next day after the issue Tether increase overall trading volume.

By the way, the author could not confirm (and deny) that USDT is fully supported real’s reserve account, according to the company Tether. In the report he writes:

In our study, no emphasis on whether or not the coins of the Tether supported by the dollar or “created out of thin air”. It is the responsibility of regulators and auditors. We focusareas on the impact of emissions Tether on the value of bitcoin. Given the low liquidity of the Tether relative to Vietnam currencies, we assume that the increase in inventories Tether eventually leads to more investment in bitcoin.

We summarize the main conclusions of the researchers:

issue Tether not connected with the growth of bitcoin prices;
they can lead (and lead) to increased trade USDT and some other cryptocurrencies for a short time;
the reduction in the price of bitcoin becomes a prerequisite for the release of Tether, as argued Professor University of Texas John Griffin and Amin Shams on the results of its June survey.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.