Bitcoin is not experiencing its best year, with a notable drop in value since the beginning of the year. Things could get worse for the company, though. The U.S. Department of Justice has initiated an investigation to see if there have been any manipulations in the price of currency and other cryptomoney. Some suspicions that take a long time.
For months now, there have been reports of illegal practices in the kryptonite market that alter their value. Something that looks like it might be true. At least this is what this research seeks to prove.
Bitcoin Research
Several techniques have been detected that altered the value of Bitcoin in the market. One of them called spoofing, which sought to flood the market with fake orders so that other investors would believe there was movement in the market. Also wash trading, in which an investor traded with himself to make others think that there was demand in the market.
These are some of the techniques used to generate greater demand and changes in the price of Bitcoin. The investigation has just begun, so it is not known how long it will last, nor what they will find. But it could be a big blow to the cryptomarket.
At the same time, however, it highlights once again the need to introduce regulations in this market. This is something that groups are already promoting after the beginning of this investigation. So we could soon see major changes in this market.
Source
Bloomberg