Bitcoin exchange rate growth is artificially slowed

27-05-2020

Contrary to logic, the value of the most popular cryptocurrency and gold is not rising, although this is usually the expected behavior in times of crisis. This is due to the manipulation of the stock markets.

During the research, which was conducted by CryptoMarketRisk, transactions on exchanges for March were studied. This period is characterized by the use of the pump and dump scheme with respect to copper futures. Quite large orders on gold and bitcoins were also noticed.

The overall complexity and tightness of the economic situation make it much more difficult for regulators to quickly track down and buy these kinds of violations. Researchers believe that the beneficiaries are the holders of dollar assets.

Carol Alexander, professor of finance, is convinced that BitMEX exchange is responsible for the manipulation of the cryptocurrency market.

The trend was revealed in comparison to 2008 when there was a crisis. Back then, the correlation between the S&P 500 and gold on the exchange was negative. But this spring the correlation was +20%. The correlation to bitcoin was +63% in March and 40% in May. Because of this, there is a threat that investors may liquidate these positions.

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