Researchers Find That Tether Manipulation Pushed Up Bitcoin's Price
According to a new study published by University of Texas at Austin professors, John Griffin and Amin Shams, the U.S. dollar-pegged tether has been used to support bitcoin's price during market downturns. The published study states that the researchers used algorithms to analyze the blockchain data, and were able to find that purchases with tether were timed following market downturns and resulted in sizable increases in bitcoin prices. This produced a clear link between the printing of new tether tokens and bitcoin's price increases following bear runs, according to the study.
